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ken_ichikawa

Why The Love Of Ponzi?

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There are often problems on this forum which some people give a rubbish ponzi solution.

I.e. let their children look after them.

Let the young pay more tax

More (un funded) compulsory pension schemes etc.

and so on...

Seriously why does everybody appear to absolutely love ponzi schemes especially when those who pay for it will not receive a penny of the money they pay in back.

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There are often problems on this forum which some people give a rubbish ponzi solution.

I.e. let their children look after them.

Let the young pay more tax

More (un funded) compulsory pension schemes etc.

and so on...

Seriously why does everybody appear to absolutely love ponzi schemes especially when those who pay for it will not receive a penny of the money they pay in back.

Left wing ideas took over the west decades ago and the west has been in decline ever since.

Socialism DOES NOT WORK.

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There are often problems on this forum which some people give a rubbish ponzi solution.

I.e. let their children look after them.

Let the young pay more tax

More (un funded) compulsory pension schemes etc.

and so on...

Seriously why does everybody appear to absolutely love ponzi schemes especially when those who pay for it will not receive a penny of the money they pay in back.

I don't, that's why I support lower state spending, lower taxation and generally am an advocate of personal fiscal responsibility. I wouldn't touch a pension scheme with a shitty stick for the reasons you mention. Haircuts for current retirees where a scheme is shown to be on an unsustainable path is clearly fair, but express the view in public and you get a look like you've been caught engaged in an unspeakable act.

Edited by cheeznbreed

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Left wing ideas took over the west decades ago and the west has been in decline ever since.

Socialism DOES NOT WORK.

Sovereign debts (i.e. the transfer of obligations from one generation to a later one) have been around for a few hundred years.

So have sovereign defaults.

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There are often problems on this forum which some people give a rubbish ponzi solution.

I.e. let their children look after them.

Let the young pay more tax

More (un funded) compulsory pension schemes etc.

and so on...

Seriously why does everybody appear to absolutely love ponzi schemes especially when those who pay for it will not receive a penny of the money they pay in back.

It'salmost like you don't read the threads on here Ken.

Or should I say Detective Superintendant?

Edited by RichB

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Ponzi is speculation, money for nothing.

Can you honestly see the 10 million 'economically inactive' and another 10 million Public sector non-jobbers and FIRE servants' actually doing a days honest work?

There would be riots.

Then they would starve.

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Ponzi is similar to perpetual motion, and I think the same people fall for it! :blink:

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Socialism DOES NOT WORK

Sir,

I must take issue with your comment above. My experience has been that socialism works extremely well if applied in the correct manner.

For example there are many members of my profession and their clients who would be far worse off today were it not for the states willingness to redistribute wealth both generously and widely.

I will concede that socialism in the wrong hands can be a dangerous thing- the wrong sort of people can end up with the money-people whose lifestyle is, shall we say, less 'sophisticated' than one might wish.

But for people such as myself, who are not poor or lacking in financial knowledge I can truthfully say that socialism not only works, but is an essential aspect of today's free market economy- without it I and my peers would be exposed to the unacceptable risk that we might actually lose money in the course of conducting our business, of which risk is an unavoidable aspect.

Not that I am against risk, please don't misunderstand- but I recognise that the risk is best shared out amongst the population as whole rather then being dangerously focused on those directly involved in the transactions.

So while I am of course an ardent supporter of the free market, it's important that this idea not be taken too far- the markets are extremely volatile and easily panicked- and in this context redistribution of wealth is vital to ensure that investors are not exposed to the possibility of loss, with all the market disruption and uncertainty such a possibility can create.

Yours Sincerely,

A. Banker.

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Technically isn't the human raise itself a sort of ponzi? I mean up until recently each couple would have 4+ kids so they could pass on their genes and have someone to look after them, their kids would then do the same etc etc. Having a large family would give you more income as you could all contribute and help, the larger the family the better chance of survival. Come to think of it maybe that's the reason it starting to fall apart. People are not having enough kids so there's no more people to feed into the ponzi that is the human race!

:o

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ponzi schemes are always attractive at first, hence the political ease with which they can be implemented and the support they gain in the early phase.

the fact that they always run out is an issue that the creators of the ponzi seldom have to deal with.

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There are often problems on this forum which some people give a rubbish ponzi solution.

Deficits = ponzi

ergo politics w/o calculator = ponzi

Politics w/ calculator = pipe-dream apparently

Socialism is not ponzi per se, but it is politics, ergo...

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There are often problems on this forum which some people give a rubbish ponzi solution.

I.e. let their children look after them.

Let the young pay more tax

More (un funded) compulsory pension schemes etc.

and so on...

Seriously why does everybody appear to absolutely love ponzi schemes especially when those who pay for it will not receive a penny of the money they pay in back.

Because, dear boy, life itself is a ponzi scheme.

Its based on externalising entropy to the environment (e.g. waste heat from your body keeps your body ticking over but damages the environment), with no thought to the future.

Your circulatory system has 5% capital, and the rest is biological leverage. At any given time 5% of your blood cells are newbies being manufactured in bone marrow and the rest are living on borrowed time. Slight drop of energy and critical mineral, protein input into your delicate frame and bosh, you are biologically bankrupt.

That's why life grows so as to gather more energy.

All life is a ponzi scheme.

Therefore, chill out about ponzi schemes.

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Technically isn't the human raise itself a sort of ponzi? I mean up until recently each couple would have 4+ kids so they could pass on their genes and have someone to look after them, their kids would then do the same etc etc. Having a large family would give you more income as you could all contribute and help, the larger the family the better chance of survival. Come to think of it maybe that's the reason it starting to fall apart. People are not having enough kids so there's no more people to feed into the ponzi that is the human race!

:o

They should limit the population. Every time I hear about new housing being built to suit a rising population (which is actually rare in this country!) I just think... stop breeding!

I don't believe in this continued growth we expect. Why can't we just stay still...?

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Our debt based monetary system is the ultimate ponzi scheme (hence why it's falling apart taking the real economy with it).

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I don't believe in this continued growth we expect. Why can't we just stay still...?

Sorry, that's not possible with a debt based monetary system, it requires growth just to be able to pay the interest to the banksters.

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Sovereign debts (i.e. the transfer of obligations from one generation to a later one) have been around for a few hundred years.

So have sovereign defaults.

A few hundred years ago we had tariffs so we could you know , actually make things to pay off the debts.

UK never had a trade deficit until the 1970s i believe?

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Sorry, that's not possible with a debt based monetary system, it requires growth just to be able to pay the interest to the banksters.

The system totally needs changed. I remember starting on here years ago thinking ''what are they talking about' but I really do believe in a group of powerful people running the place now.

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Sorry, that's not possible with a debt based monetary system, it requires growth just to be able to pay the interest to the banksters.

I see no mathematical reason for it to be impossible. Borrowers pay interest, the bank takes a cut to pay for providing the service, depositors receive what's left (maybe 0 of course). The issue is more a psychological one of expecting to have continually rising living standards. Historically speaking, there have been some quite long periods of more or less zero growth all based on the same monetary system that we have now.

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  • 336 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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