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31 Comments
- Regulator980, on 04/10/2009, -1/+10Usually I bury Askmen for their crappy slideshows and sparse content, but I actually found some of this informative.
Link to the one page version:
http://www.askmen.com/feeder/askmenRSS_article_pri ... - webXL, on 04/10/2009, -0/+6Ponzi Scheme: An investment swindle in which high profits are promised from fictitious sources and early investors are paid off with funds raised from later ones.
Social Security: A sacred government handout for all Americans in which retirement income is promised from insufficient sources of future tax revenue and an increasing amount of retirees are presently paid off with funds confiscated from our paychecks.
"In July 2008 the Office of the Chief Actuary of the Social Security Administration calculated an unfunded obligation of $13.6 trillion for the Social Security program" http://en.wikipedia.org/wiki/Social_Security_(Unit ...
$13.6 trillion
Social Security: The Greatest Ponzi Scheme Ever - factsahoy, on 04/10/2009, -0/+6This article is *****, because it utterly fails to describe pyramid schemes. After saying there's a difference, it doesn't say WTF the difference is.
- oldman, on 04/10/2009, -0/+5Better info is available from http://en.wikipedia.org/wiki/Ponzi_scheme
- vsujohn2, on 04/10/2009, -0/+4I'm more worried about the Fonzie schemes....
heyyy - ConcernedCanuck, on 04/10/2009, -4/+8Also known as Madoff schemes and the federal government.
- inactive, on 04/10/2009, -0/+4I was going to read the article, but then I noticed "America's Hottest College Girl" contest on the right side. So long suckas!
- Uriah, on 04/10/2009, -2/+5Burried due to it being another ***** AskMen link. The least authoritative people on the internet.
- aduzik, on 04/10/2009, -0/+3Computer science nerds: a pyramid scheme is like a tree, and a Ponzi scheme is like a queue.
In a pyramid scheme, you get people to give you money to "invest". Then, you convince them to go recruit other investors/suckers. They get to keep a portion of the "investment" as a finder's fee of sorts, while they pass the money up the tree to the root. The closer to the top of the tree you are, the more money you make. Of course, no legitimate investing is going on, so eventually the whole house of cards comes tumbling down, and the people closer to the bottom of the tree lose everything.
In a Ponzi scheme, money goes in the back of the queue, and early investors can take some of that money, which they are led to believe are the earnings from their investment, out of the front of the queue. The whole thing is predicated on there being more people putting money in than taking money out. As the phony interest accrues, it takes more and more money to pay out the investors who want to cash in, so a Ponzi scheme requires ever more victims in order to keep going. - truebeliever83, on 04/10/2009, -0/+3dugg down for not understanding sarcasm.
- SmartestDigger, on 04/10/2009, -4/+6Social Security is the biggest Ponzi scheme ever foisted on the public by one of our worst Presidents: FDR.
This is about to blow up big time as the baby boomers retire. - Vagabond91, on 04/10/2009, -2/+4"On top of being a clear musical genius and patron of the arts, Lou Pearlman (the man behind the Backstreet Boys and 'N Sync)..."
Really AskMen? - 121GW, on 04/10/2009, -2/+4I am so damn sick of "Ask Men" links. Why do I have to click so much for so little?
- webXL, on 04/10/2009, -0/+2How dare you criticize the greatest President ever! Everything he touched turned to gold: the WPA, Fannie Mae, the A-Bomb, Japanese internment camps...
Only He could put the Great in Great Depression! - verbose, on 04/10/2009, -0/+2This did not convince me that Ponzi Schemes are not Pyramid Schemes.
- Technopundit, on 04/10/2009, -0/+2World Financial Group is all that and worse.
- Bobski, on 04/10/2009, -0/+2Here's an example of the difference:
Amway: Multi-level Marketing
Govt. Bailout: Ponzi Scheme - Piha, on 04/10/2009, -0/+2Ok, so ponzie scheme is not a pyramid scheme... So I guess that's why they have.. er,..
Different Names - mr5150, on 04/10/2009, -0/+2me too!....Heyyyyyy! hold a thumb up like a douche at little school girls at cafes.
- kolobcreek, on 04/10/2009, -1/+3One more thing you didn't know Social Security is a Ponzi Scam. And its going to collapse like Madof's did.
Thank you Federal Government. - lagoamedia, on 05/05/2009, -0/+1Great points. People confuse these three things all of the time. In fact explaining these difference is one of the biggest hurdles for network marketers. This is a useful article for any network marketer.
- inactive, on 04/10/2009, -0/+1Seemed sarcastic to me.
- izikdela, on 04/10/2009, -0/+1Chris Pirillo's wife... we're watchin' you and your devious, schemin' ways.
- Dunnston, on 11/02/2009, -0/+1Same thoughts here.
- sames1, on 08/29/2009, -0/+1Ponzi reportedly took in $1 million in three hours in 1921. How cow.. That's like getting $12,028,100 in three hours in today's dollars.
- Scott
http://www.onlinemlm.com - HarrySeldon, on 06/30/2009, -0/+0What about assurances ? Are they Ponzi schemes ? http://digg.com/d1vKCt
- hrhjudy, on 04/13/2009, -0/+0wow! what can be done to spread some wealth around, well i have joined obama and i am doing my bit with UMBA2 Cloud
- monique75, on 04/11/2009, -0/+0My neighbor unfortunately fell for one of these.
Looking for genuine offers can be tiresome. - SmartestDigger, on 04/11/2009, -0/+0ROFL
It kills me how the left-wing moonbats still try to give credit to FDR for "solving" the Great Depression. FDR is the architect of the Great Depression. It went on and on for 13 long years on his watch, and every time the economy began to recover, he would implement some new highly destructive scheme to destroy the economy yet again. Unemployment went down because he shipped all the able-bodied men overseas to fight in foreign wars he promised to keep us out of.
The economy only really recovered in 1946 after FDR was finally dead.
Social Security was created by FDR and is a far bigger Ponzi Scheme than anything Madoff ever did. This has yet to blow up... but it will, like all Ponzi schemes. - killymckill1, on 04/10/2009, -0/+0"perpetrating the biggest Ponzi scheme in history."
lol the biggest ponzi scheme in history is the fractional-reserve banking we use everyday. - clemson11, on 04/10/2009, -6/+1everyone heard about ponzi schemes a month ago and askmen.com is one of the ***** popular websites..buried
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