What's this guy shooting up?
If it's not a Ponzi scheme, lets see those on SS actually live on what they've paid in plus interest.
Being that they'd be living in a cardboard box and eating graham crackers, it takes several of us to support one SS beneficiary and it's only getting progressively worse.
That is the classic definition of a Ponzi scheme, where those at the bottom of the pyramid pay for those at the top - that is until the house of card inevitably falls apart. "Private" ponzi schemes are far more moral, because most of us can and will avoid them. This public ponzi scheme however is forced, with the ultimate end of refusing to partipate is having your life ruined by those running it.
But the good news, according to the author is that they are "sitting on $2.5 Trillion of US Treasury IOU’s"
That just warms my heart.
What's this guy shooting up?
Of course its a Ponzi scheme, but its not technically bankrupt since they haven't written down the IOU's to their real value yet.