IT'S A PONZI SCHEME!
Johann Wagener 9-15-13
Looks like more Americans are waking up to the reality that our form of capitalism is nothing more than a gigantic Ponzi scheme; Herbalife on steroids if you will.
If you're not a believer yet it just means you're still dozing on Ambien and trying to not wake up or you're one of those at the top hoping that no one wakes up.
Need proof? That's simple. Just compare the American economy to the Ponzi model and then take a long hard look at your life. Ponzis go in cycles. First there's those who put it together; in this case, Wall Street and the banks. The story is always the same. Put your money into (whatever hooks you) and you'll be rich and living the "dream" in no time. The more you put in, the more you'll reap.
In a Ponzi the money flows up, not down. Those at the top hoard most of it and only let a "trickle" of what comes in go out. Just enough to keep the "investors" happy and pull in more suckers. And, you know what they say. "There's a sucker born every second." Easy to do when you consider that your dealing with people that camp out for days in front of an Apple store to get a $600 phone to replace the last one that is the same except it's ???? still a phone.
Ever wonder why Bernie Madhoff was able to operate as long as he did? It's not because no one knew what was going on. It's just that they hung on to the belief that it would not hurt them; just the ones that came in after them. And, to boot, on the surface it looked very much like good old American capitalism at work.
These Ponzi's can only go for so long and historically they just operated on cash. It was not so easy to pull it off when the dollar had to be backed by silver and gold. The gates to Hell didn't open until the dollar went off the gold standard. Then it was just a matter of how many dollars you could print up. Later we began to throw everything but the kitchen sink into these Ponzi's. In the last Ponzi we threw in the only thing left of any real value. Our homes. The last bastion of the American Dream. The bankers had a field day converting our homes into bundles of paper and selling these bundles of junk for enormous sums of money to the suckers from which they made great profits. So much so, they became untouchable. "Too big to fail" and to add insult to injury, conned us into rewarding them for screwing us by bailing them out. How dumb is that?
What will be interesting to see is how the Ponzi crowd will work their next scheme. Especially now that Americans are beginning to wake up
Poll: Number of Americans who self-identify as poor doubles in 15 years