you’d think that people would be a bit more discerning

maybe

or not

with the right smile, in the middle of a bubble economy, you could sell shares in “Ponzi’s Investments” and half of the suckers in this country would never make the connection

I haven’t studied economics, but I’ve run across some economic history in my reading. the recent collapse of a bubble economy doesn’t seem all that different than any other bubble failure

people get caught shoveling money into investments they have no clue about, based on the idea that they can sell the investment for twice the value in the near future

ever read about the San Francisco stock market in the 1800s, or the Los Angeles real estate booms ???

it’s all so predictable …

I personally think it goes to this con-job that the oligarchs have been playing on the populous.

As an example I work with a father/son team of former mortgage broker/closer. Both now work for less than $10/hr. The father has owned several businesses. He actually commented the other day that the Rich should get privileges that the rest of us don’t because of all they do for us????? He actually sited “trickle down” as one reason.

Poor guy doesn’t understand what end of the food chain he is on, and always has been.

(BTW, both are great people who will help ANYONE out, just confused as to cause and effect)

What stoned animals do.

CNN had a *really* weird interview segment on this morning about some older woman in Florida currently living in an unbelievably well-furnished co-op?apartment? and she was wearing this exotic floor-length at-home gown and she’s standing on the balcony with a killer view of whatever city it is. Turns out she and the hubby got taken to the cleaners in some Ponzi scheme and they’re gonna be foreclosed on tomorrow. She talked about how now when she’s got and about and she see homeless people living under bridges or people holding “will work for food” signs beside the highway, she thinks to herself, “That’s gonna be us tomorrow”.

Would the thought EVER have crossed her mind a year ago, “That could be me”…….when she had the money to actually help such people? But now she’s crying in her beautiful home that will belong to somebody else tomorrow. I’m not a nice person…….could not manage to squeeze a drop of sympathy out of my heart for her plight.

P.T. Barnum was right …

Boxturtle (Who’s done more for accounting: Ponzi or FASB?)