Ponzi Scheme of the Week Award

Fonzie's mug

Ponzi's mug shot

Not so Happy Days
Ponzi is not to be confused with Fonzie of the 1970's sitcom though there are similarities. I have to admit, they do both look happy.  
On the set of Happy Days, Fonzie resided in the Cunningham's garage and worked as a mechanic, but it was his cool "*ness" that got him the chicks.  On the other hand, Ponzi, (named after Charles Ponzi in the 1920s) used money as his "ness."  Like a pyramid scheme, the object is to get investors to "buy in" promising a large profit on the initial investment--say a 30% gain in 30 days.  The percent paid is actually a product of what was invested by those scammed.  Ponzi used International Reply Coupons (IRC) as his get rich quick strategy.  The coupons could be used as stamps and when used in foreign counties, they were like pre-paid postage.  Postage varied from country to country because of economy, the IRCs values varied.  But it really wasn't about the postage, it was about Ponzi hiding behind the postage.  Why, when you think about it Ponzi was an early American Capitalist.  Fonzie, on the other hand, was just an over aged high school flunkie in a leather jacket whose vocabulary was limited mostly to, "Ehhhh."

*"Ness" is a term from the movie, "You, Me and Dupree."  Dupree is played by Owen Wilson.  "Ness", to Dupree, is your inner self, the unique things that make "you" who you are."

What Makes Ponzi "Ness" a Success
"For a Ponzi scheme to be successful in politics and economics it must exploit three tendencies of human nature: 1) envy (I desire what you have); 2) greed (I will do whatever it takes to get what you have); and 3) willful ignorance (I didn't know that minus defense [20 percent], 61 percent of America's debt is entitlements and mandatory welfare spending predicated on the Ponzi scheme of the federal government stealing money from one group of people (the rich) through regulation, Marxism and unconstitutional taxation and giving it to another group of people (middle class and poor) who didn't earn it and doesn't constitutionally deserve it." 
These three things I know are TRUE:  People are envious.  People are greedy.  People play dumb even when they are smart enough to know better.  So should we be surprised when there is at least one new or revealed Ponzi Scheme that makes the news on a regular basis?

Robin Hood or Obama's Hood?

I've heard it said that history repeats itself.  Robin Hood is he story of a Medieval gangster who stole from the rich and gave to the poor.  Well, it's not really stealing, as much as re-distribution of wealth.  Was Robin Hood a "founding father" of Socialism or just a philanthropist who liked to steal?  Is Obama a Socialist, Monarchist or just plain dumb?

This Weeks Award Goes To....
Rick Perry calls Social Security a Ponzi Scheme, "Republican presidential hopeful Texas Gov. Rich Perry won't back down from stating he believes Social Security is a Ponzi scheme '...It is a Ponzi scheme for these young people,' Perry said at a stop Sunday in Ottumwa. 'The idea that they're working and paying into Social Security today, that the current program is going to be there for them, is a lie.' "  Though Social Security is an Oldie but Goodie, Obama keeps on re-inventing.  The Notorious NOPE wins the award!

Social Democracy

I Beg Your Pardon
We were never promised a "Rose Garden" so the irony is just too much.  Yes, he told us there would be bumps in the road but he didn't tell us that we were all going to be part of a Transportation Ponzi Scheme!  "Obama pushed today to continue federal funds for transportation needs; he claims the transportation bill “to protect 1 million jobs.  Those appearing with Obama in the Rose Garden were the AFL-CIO’s Richard Trumka, the U.S. Chamber of Commerce’ David Chavern, et. al."  In Conservative Action Alerts  (August 31, 2011) Kyle Ebersole quotes The Associated Press,  “At issue is the renewal of a transportation spending bill that expires Sept. 30. The House is considering a six-year, $230 billion bill paid entirely with current fuel taxes. The Senate proposal would last only two years and cost $109 billion...For construction workers and their families across the country, it represents the difference between making ends meet or not making ends meet [...] All of them will be out of a job just because of politics in Washington. That’s just not acceptable. It’s inexcusable,” stated Obama.

Furthermore, Ebersole states, "Attached to the current highway funding bill is a 18.4% federal gas tax, which will expire with the bill.  The federally-funded highway program uses '$32 billion each year collected by the gas tax, plus a handful of smaller fees and some borrowing to distribute some $50 billion a year to the states for road construction, maintenance and mass transit projects.' ”

Just Say "NOPE"

WHAT?  That's not "creating jobs," that's STEALING from America taxpayers to fund jobs.  Just last week I read, "Angry Unions Sever Ties With Democrats, Obama."  I was PROUD to read how Richard Trumka, president of the AFL-CIO was ready to start their own party.  After all, they spent over $400 million for Obama's election and what did they get out of the deal?  So the Notorious NOPE had to come up with a new Ponzi Scheme--steal from the tax payers by taxing fuel to create jobs.  "Trumka made it clear that his plan will cost the Democrats both contributions and labor volunteers in many districts almost immediately. That would cripple key Democratic get-out-the-vote efforts in many swing districts on Election Day." 

Put your money where your mouth is Trumka!  If the AFL-CIO wants any HOPE for the American worker, they need to just say "NOPE."  Hey, if anyone is looking for ocean front property in Arizona...maybe the AFL-CIO is buying into that too.

Disclaimer:  Opinions expressed here are solely those of the author unless otherwise stated.  You can put lipstick on a pig but it's still a pig.