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"If you put the federal government in charge of the Sahara Desert , in five years there'd be a shortage of sand."

marcuss LIBERALS ARE IDIOTS 2011/01/25 00:44:48
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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.Some of you know this. But not enough of you. Madoff
did to his investors what the government has been doing to us for over
70 years 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 you need a side-by-side comparison here? Well here's a nifty little chart.

BERNIE
MADOFF

SOCIAL SECURITY

Takes money from investors with the promise that the money will be invested and made available to them later.

Takes money from wage earners with the
promise that the money will be invested in a "Trust Fund" (Lock Box) and made available later.

Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts.

Instead of depositing money in a Trust Fund the politicians transfer it to
the General Revenue Fund and use it for general spending and vote buying.

When
the time comes to pay the investors back Madoff simply uses some of the
new funds from newer investors to pay back the older investors.

When
benefits for older investors become due the politicians pay them with
money taken from younger and newer wage earners to pay the older
geezers.

When Madoff's scheme is discovered all hell breaks loose. New investors won't give him any more cash.

When Social Security runs out of money the politicians try to force the taxpayers to send them some more; or they cancel S/S to all those who paid into it.

Bernie Madoff is in jail.

Politicians remain in Washington .. with fat medical and retirement benefits.

'The taxpayer: That's someone who works for the federal government but doesn't have to take the civil service
examination.'

~ Ronald Reagan



"If you put the federal government in charge of the Sahara Desert , in five
years there'd be a shortage of sand."

~ Milton Friedman

+19
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  • FairLady 2011/02/09 03:47:47
    FairLady
    +1
    Exact the same result will be if the Sahara Desert becomes communist". LOLOL

    Proof: Venezuela. They used to be the biggest coffee exporter. Now they import coffee. LOL
    reply
  • Annette 2011/01/25 16:39:06
    Annette
    +1
    Truer words are rarely spoken. Great post!
    reply
  • Matt 2011/01/25 15:11:08
    Matt
    At least Bernie Madhoff did not sign a slew of unfair trade agreements that guaranteed the demise of our economy ! I drink a lot of beer and recycle the cans. I get a better return on my investment than either of them !
    reply
  • onetirednurse 2011/01/25 13:02:53
    onetirednurse
    +1
    Term limits for crooks... uhh... I mean Congress.....
    reply
  • steph ♥ 2011/01/25 06:59:54
    steph ♥
    +1
    Great post. Amazingly simple. They are both crooks. Bernie had investors and the Government has slaves.
    reply
  • NidStyles 2011/01/25 06:48:10
    NidStyles
    +2
    Ahh Friedman, always a voice of reason.
    reply
  • Captain Kirk~POTL 2011/01/25 05:45:35
    Captain Kirk~POTL
    +2
    Your exactly right,that`s what it is!!
    reply
  • Radlad 2011/01/25 05:41:41
    Radlad
    +2
    Yep, the politicians should be in jail for the scam.
    reply
  • wtw 2011/01/25 05:31:39
    wtw
    +1
    You hit the nail on the head--absolutely true! Therefore we need to take most of the politicians repub and dem and put them in prison--I have no problem with that!!
    reply
  • Pat 2011/01/25 05:30:43
    Pat
    +1
    Amen!
    reply
  • not u 2011/01/25 04:22:36
    not u
    +2
    reply
  • Fearless Valor 2011/01/25 04:15:53
    Fearless Valor
    +2
    What I would like to know is how stupid were these people who invested their money to some Crook whose last name was Madoff? When this story first broke and I heard the name the light bulb went off immediately. Duh! He made off . Frankly, the pig should be hung! People pay attention. Names can give one away.
    reply
  • Fearles... Fearles... 2011/01/25 04:17:37
    Fearless Valor
    +1
    Hell, I think I messed up. LOL. Oh well. Enjoy it anyway. Lmao!!! No I have not been drinking.
    reply
  • wcake 2011/01/25 04:09:34
    wcake
    A good comparison, It sounds not much different..... One thing I already knew about politicians have life time benefits which is no different than oweing union's similar pensions that last them for life time, than in the private sector. Plus,the politicians voted a private bill for automatically increasing their salaries. Washington D.C has been plagued with apply to " Me " for a long time.
    reply
  • Fillmore 2011/01/25 04:04:31
    Fillmore
    +1
    This is a good post and couldnt you say the federal reserve has been/is running the same scheme?
    reply
  • belle 2011/01/25 03:08:56
    belle
    +3
    good post. Milton Friedman is so right on,
    reply
  • srini belle 2011/01/25 03:15:00
    srini
    +2
    I remember an analogous quote being printed in a Calgary paper in 1982 (specifically about the misgovernment of Trudeau and Lalonde).
    reply
  • Chokmah 2011/01/25 03:05:28
    Chokmah
    +1
    Economist John Williams of Shadowstats.com predicts a financial meltdown even if QE2 is extended. Williams said, “I think you will see much greater economic and systemic-solvency troubles ahead than commonly are expected. Accordingly, I would expect a QE3, or an expansion of QE2 before it is scheduled to have been run through.”

    I can’t imagine how the U.S. could stop printing money in June and then turn around and ask the world to start buying our debt again at a rate of $75 billion a month. Of course, we would want to pay discount rates in order to keep mortgages affordable and real estate prices from crashing. There would be no legitimate buyers unless we were paying much higher interest rates. Higher rates are the last thing the Fed wants to see because it would kill what little is left of this so-called “recovery.”

    This will surely mean an imploding U.S. dollar and exploding inflation. This is scheduled to happen by the end of June, making this the most predictable financial calamity in history.
    reply
  • NidStyles Chokmah 2011/01/25 06:47:36
    NidStyles
    +1
    Didn't Bernanke announce an increase of the weekly amount under QE2 last week?

    Well they did predict the crash in 1929 something like four years beforehand. At least Mises did.

    I think Mr. Williams is correct though. The estimated M3 values he has posted are looking rather dismal, and the M1 values are still curving down. The only upside is the M2 values have stopped doing the yo-yo, and steadily increasing. I guess there are enough folks paying attention and are preparing to weather the storm the best they can.
    reply
  • The Missus JR 2011/01/25 01:59:12
    The Missus JR
    +3
    Spot on comparison. Too bad there are too many sheep to ever realize it the significance of it.
    reply
  • Arizona1950 2011/01/25 01:54:03
    Arizona1950
    +1
    Love the comparison. Very easy to understand and very valid in its interpretation. Can't dispute that the Feds have stolen our money and are still doing it today while they tell us they are trying to figure out a way to fix.

    My suggestion keep your hands off of it and it will begin to regroup and fix itself.
    My suggestion if you can't keep your hands off it, then admit it and pick a date, then no longer mandate we are to pay into it. If this is the best course of action, then let us invest our own money or keep it in a cookie jar. But it stays with the person who earned it.
    reply
  • Theresa 2011/01/25 01:45:27
    Theresa
    +3
    The comparison is valid! SS is a government ran Ponzi scheme!
    reply
  • DG.= Political Athiest = An... 2011/01/25 01:38:36
    DG.= Political Athiest = Anarchist
    +2
    funny, sad & true all at the same time.
    reply
  • Andrew1554 2011/01/25 00:53:35
    Andrew1554
    +3
    They should be subject to the same laws as everyone else. When they bribe someone to vote for a bill with some pork they should go to jail for bribery like the rest of use would.
    reply
  • Farnsworth 2011/01/25 00:52:58
    Farnsworth
    +2
    up in arms?

    Bernie? YES
    Government? NOPE
    reply
  • Allbiz - PWCM - JLA 2011/01/25 00:51:44
    Allbiz - PWCM - JLA
    +3
    Great job. You could be a Constitutional lawyer at Harvard.
    reply
  • Faith † 2011/01/25 00:50:03
    Faith †
    +2
    wow.. sad but true.
    "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."
    -Thomas Jefferson
    reply
  • Alex Oger 2011/01/25 00:47:26
    Alex Oger
    +2
    phucking hahahahahahahahaha you are so right
    reply

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