Ponzi Schemes Compared

I received a comment from the fellow who transcribed and first published the 2005 letter to the SEC about Bernie Madoof …and decided (at 4am in the morning…) to review his blog site.

Came across this interesting graphic which compares two Ponzi scheme liabilities…Madoff’s and the Social Security, Medicare, Medicaid Ponzi scheme. Wait a minute!…Social Security, Medicare, Medicaid isn’t a Ponzi scheme is it?….it’s just ‘unfunded liabilities’….now I feel better!

Is America about to become a societal dinosaur?…trying to sell vinyl records in the Internet era.