Winds: Variable 3
OofU, I’m not so dense that I can’t tell the difference between insurance, an investment, and a criminal act of fraud.
Are you going to answer my question back to you about insurance?
I have asked the same question to you for the last 6 months.
Can we continue to spend in perpetuity?
But I will do you the courtesy of answering since I don't have issues backing up my statements.
Insurance operates much like a Ponzi Scheme in that a pool of cash from buyers pays out those that need it. It is, however, vastly different from a Ponzi scheme in that one there is no con game.
Remember one of the elements of a Ponzi is that it takes a act/con. Insurance is a product that you can freely buy it is tangible and real.
Additionally Insurance is unlike a Ponzi scheme in that it also fails the second element it has no fraudster/con man. Since there is no con game there is no criminal element.
Also that "pool" of cash is no different then your own savings account in that it is there for everyone. Ponzi's pay out based on first in first paid last in not paid. Insurance does not pay out based on order of entrance.
Lastly the last element of a Ponzi scheme the Investors or buyers in this case are simular but with one major difference. Under Insurance you are buying a product with predictable results. Under a Ponzi you are not buying a product but gambling that you will "hit" it big.
So Gort the answer is no, insurance is not a Ponzi scheme only those that would compare the two to try to justify the forced taking of monies by Government for the purpose of redistribution to pay forward those first in think so.
of words but you really didn’t answer my question. I think you answered ‘yes and no’ but it was written with so much gibberish I really couldn’t tell.
It’s this simple. A Ponzi scheme is a criminal act of fraud and has nothing in common with Social Security, Medicare, or the legitimate insurance industry.
let me speak reeeaaaallll slloooowwwlllyyy.
Since you have reading and comprehension issues here let me post it again for you...
The only difference is the fact that Government does it so it's not illegal.
btw-noticed you still failed to answer that little question I have been asking you for months.
Little hypocritical of you to make comments about me not answering questions when you have avoided that one for months don't you think?
your words for me. I understand completely why you want to associate Social Security and Medicare with a criminal act of fraud.
The fact is they have nothing in common.
BTW, are you sure I didn’t answer or just don't like my answers?
all you have to do is quote yourself.
Do you have proof of your statements or an answer yet? No.
Don't worry Obama doesn't know what to do either so you're in good company.
Gort you asked I answered now you are trying to assign ideas not presented so clairvoyant one tell me where all this goes how do we get out of the pit in which we find ourselves still digging in?
OofU, I don’t know what your talking about, I answered you! It was posted Sun, 08/14/2011 - 10:43am. (Box #27 last time I checked)
I’ll tell you what to do. Go to the first page of this topic, select “Control F” and type: “OofU, what! Still not satisfied?” in the Find box and press enter.
BTW, Obama doesn't know what to do? I don’t know about that. At least he knows enough to honor his oath of office and instead of pledging to Grover Norquist. 8 - )
that we either can or cannot spend in perpetuity?
Okay, if you’re not a credible source how about from the mouth of the Teaparty darling, Republican Rep. Allan West, from Florida, at a town hall meeting in his district.
I will take my hands off Medicare and when there is no Medicare, then I will come see you sir.
Scroll down, watch and listen to the video and you can hear him speak for himself.
It certainly sounds to me like he wants to kill it. Does it sound that way to you?
OofU, now matter what you or I say or do, I’m pretty sure the federal government will continue to spend money as long as it exists. So the answer to your question is, yes. Is this not so?
Now how can we do that?
Is your idea like kevink's as long as we can borrow money we can spend or is it that we can just print more money and raise taxes or maybe a bastardization of each principle.
Just wondering and curious how progressives think we can spend and spend and spend with no consequences. I am looking forward to your answer.
btw-Government can only do what WE ALLOW them to do gort. It's called the teaparty you should really look into it.
OofU, you’re welcome. Now answer my question about the GOP killing Social Security and Medicare.
of where, when and who has said they want to "Kill" it.
OofU, if you won’t believe your own word, or the words of your political allies, I’ll conclude that I could never prove, to you personally, the danger the GOP poses to killing Social Security and Medicare.
The fact is, I really don’t have to prove anything to you before I sound the alarm to others. I also knew you probably wouldn’t answer anything you couldn’t cut and paste from your talking points.
See you in the funny papers red nose!
The right wing would void both Social Security, Medicare, and the new Health Plan if that were possible for them.
They want people to invest in the stock market for their pensions---no matter if you only make just enough for the rent and food. Even the part-time and unemployed are supposed to save their money!
Right now just about all cities are in trouble with their employee pension
plans. Why? The stock market has robbed them!
Teacher's pension plans also are in severe trouble and no way to fix them.
Remember when the government allowed the 401-k to be used and that companies did not have to provide a company pension if they used the 401-k way? They had always had to provide a fixed pension amount in order to compete for labor.
I doubt that 25% of those now on 401-ks can retire!
Currently, a full coverage good health Insurance plan for a family costs about $16-17,000 per year!
Our average wage is $46,000! How will that work out if no National Health Plan?
We do not need a huge lower, ill, middle class in poverty---only spells bad trouble, slums, hunger, and riots.
Socialism is not necessary to solve these problems---just put people first.
Round, if you want to see a vision of the new Teaparty America, just Google the words “slum pictures”.
those are today's reality. Seen Detroit lately?
After 30 years of Democrat rule they have turned this city into a third World
OofU, the last time I was in Detroit was 2003. It was terrible. The devil had the people by the throat. Do you remember who was President in 2003?
doesn't run cities.
Governors then Mayors then Commissioners do.
Now look who has been in power in Detroit for the last 30 years. Opps they were democrats, just like in New Orleans.
btw what was the dow doing in 2003-2008?
And what is it today after two years of this administrations manipulations?
OofU, the last time I check, the city of Detroit has been in decline since 1956. As bad as Detroit is now, it would be much worst if the Republican’s got their way on the auto bailout.
You single out Detroit quite a bit on the forum. Why do you take such pleasure in pointing out those peoples misery? You know, you don’t have to drive too far from PTC to see what’s left of busted communities when textile mills closed down or moved away.
The people left behind didn’t have anything to do with the reason the textile mills closed of moved away. The people left behind in Detroit had nothing to do with the reason why the auto plants shut down or downsized.
Get off your high horse.
You get what you vote for gort.
They voted for the Democrats and got what they voted for just like New Orleans and many other States and cities under Democrat control most now facing bankruptcy.
Not my fault they screwed up and screwed up their city.
"Shocking Forbes Report: Bluest/Democrat States are Most Broke & Going Bankrupt; Because of Unions, Pensions, Costly State Programs & Social Services:"