RSS

Marko On Economics

13 Mar

When a private citizen accepts investment money from people, and uses the cash from subsequent investors to pay out promised gains to the early investors, we call that a “Ponzi scheme” (although that term is likely to be replaced by “Madoff scheme” in the near future.)

When the government accepts investment money from people, and uses the cash from subsequent investors to pay out promised gains to the early investors, we call that “Social Security”.

More here.

Advertisements
 
Leave a comment

Posted by on March 13, 2009 in Humor, Money

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: