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Old 07-27-2019, 08:55 PM   #1
reynolds
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Default The Fleecing Machine: Our Entire Economic System Is A Giant Ponzi Scheme

Our Entire Economic System Is a Giant Ponzi Scheme

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There are several articles on this subject, and more recently we could add Ponzi Schemer - Jeffrey Epstein to the list. Epstein, like Jew Bernie Madoff produced nothing - consumer-wise for the economy. And The Deutsche Bank which loaned Epstein the money, is not doing so well now either. And the 2008 recession started by Lehman Bros also produced nothing, but defaulting customers.

Ever-increasing amounts of debt, taken on by those least able to pay it back. As the current Everything Bubble inflates to ever-more-absurd levels, larger loans must be sold to people who have almost no chance of ever paying them back. Who eventually pays for these sure-to-default bad loans? You do. Or your grandchildren will. Its a perfect fleecing machine. A mortgage broker selling a zero-down, interest-only mortgage can instantly earn five figures as soon as the shady deal is done. And the loan he sells is federally guaranteed; when it defaults, taxpayers foot the bill.

In the meantime, those terrible loans are packaged by Wall St., who earn enormous fees for doing the dirty work and creating investments that are then sold to unsuspecting investors (Citigroup specialized in selling such trash to small Norwegian towns). And what happens when even Wall St. gets so greedy theyre caught in their own trap? They get bailed out. By taxpayers. Ever larger bubbles. Ever greater crashes. Eventually, the contagion will not be limited to Wall St. It will spread to the US government and the faith in the US dollar itself.

Our economic system is effectively a Ponzi scheme
: the operation of the economy relies on the constant creation of low-grade debt in order to finance consumption and income shortfalls among some members of the economy, using the massive surpluses earned by other members of the economy. So its not just debt burdens that expand. Debt ownership also expands, and the debt deteriorates toward progressively lower quality. Read more ...

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