Thursday, January 29, 2009

Obama and His Giant Ponzi Scheme

I keep wondering how is Obama's "stimulus" (or rather "porkulus") scheme any different from a Ponzi scheme? A Ponzi scheme is a fraudulent operation that gives the beneficiaries money paid by subsequent investors rather than from profit. It's exactly what all these bailout and government spending plans are. They pay you know based on the assumption that it will get money later... then pay those contributors again, expecting even more investments.

First they give out 350 billions, then another 350, then 890 billions, "knowing" like any Ponzi schemers that they'll keep getting money in the system to pay out the "investors". Bernie Madoff and other pyramid scheme scammers did it until they didn't get any more money to pay off the earlier investors. What will happen when Obama runs out of money? Well, who cares, these schemes usually run for more than 4 years, so it won't be his problem anymore. Nobody will take him to jail for it, because you know... if the President does it, then it's not illegal.

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