

Nassim Taleb: "The Government Debt Is Becoming A Pure Ponzi Scheme" - startuprules
http://www.zerohedge.com/article/nassim-taleb-government-debt-becoming-pure-ponzi-scheme#comments

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rskar
_Sigh_ Just because something is nothing more than a scheme of money
redistribution doesn't make it a Ponzi scheme. Loans and insurance, for
example, are legitimate and legal schemes of money redistribution. A Ponzi
scheme is an act of fraud where a money redistribution scheme masquerades as
an investment scheme. A Ponzi scheme involves confidence tricks and mis-
representation.

"Social Security" - technically FICA, the Federal Insurance Contributions Act
tax - is an insurance scheme, principally of OASDI (Old Age Survivorship and
Disability Insurance) and Medicare (a health care subsidy for old people).
Call it mismanaged or misguided or even "un-American" if you like, but it
isn't fraud, and it isn't a Ponzi scheme.

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russell
The real story:
[http://www.businessweek.com/investor/content/jul2010/pi20100...](http://www.businessweek.com/investor/content/jul2010/pi2010078_530571.htm)

The blog adds nothing.

