I received this from a friend of mine this AM and I thought I would share it with you. Before I forget, I am heading to Dallas this morning for a wedding and will be gone for 5 days. I may be posting if time permits & I can find a Internet connection.
See ya when I return.
|Why did Bernie Madoff go to prison? To make it simple, he talked people into investing with him. Trouble was, he didn’t invest their money. As time rolled on, he simply took the money from the new investors to pay off the old investors.
Finally, there were too many old investors and not enough money from new investors coming in to keep the payments going. Next thing you know, Madoff is one of the most hated men in America and he is off to jail.
Too few people realize this, but Madoff did to his investors what the government has been doing to us with Social Security. There is no meaningful difference between the two schemes. . . except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions.
Do we need a side-by-side comparison here? Well here’s a nifty little chart.