Peter Schiff, Ron Paul, Max Keiser - Social Security Ponzi Scheme

[Song4Alex]

peter schiff mocks occupy wall street though

i agree with him on everything else

[jmck53]

I wish all these right wingnuts would just die and go to Hell with Ayn Rand.

[david52875]

@jmck53 Your comments score:

Arguments: 0

facts: 0

logic: 0

hate: 1000

stupidity: 10000.

sorry, you fail.

try again later

[jmck53]

@david52875 You just keep eating that neoCon libertarian bullshit.

[xXMetalMeltdownXx]

@jmck53 - Most libertarians generally hate neo-conservatives. Neo-cons are Keynesians. Libertarians are Austrians. Neo-cons are pro-war. Libertarians are anti-war. Neo-cons are socially statist. Libertarians are socially libertarian.

[biggerturtle]

@xXMetalMeltdownXx and you are an idiot

[xXMetalMeltdownXx]

@biggerturtle - NO U!

I expected an actual argument. Point out where I am wrong in how I said that libertarians oppose a great deal of what neo-cons propose.

[biggerturtle]

@jmck53 let the old people die Too bad they were lazy freeloaders HAHAHA

[elnik32]

it's funny how some here say that SS didn't start off as a Ponzi scheme, it just ended up this way. Well, funny how this same comment could be made about so many government ment ideas. take the dept of energy, the us imports about 70% of its oil compared to around 50% when it was created. Anyway, I'm sure it's all a coincidence...

[JojozDad209]

Social Security did start as a ponzi scheme. The idea behind was thoughtful for people of that time.

Great video! Thanks for posting.

RP12

[af62250a]

Seems to me that Social Security didn't start off as a Ponzi Scheme just ended up that way.

[2237lemon]

explained in real terms as usual.... good video... when the lower tier has less payers than some of the top layer tier because of the baby boomer generation and severe unemployment for a sustained time than it eventually collapses because the base is smaller than the top.. the pyramid scheme becomes a diamond on end waiting to tip over and collapse.. the diamond then looks the cubic zirconia it is.

[vinny1010]

2045? lol The US Economy won't last even after 2015, it will collapse

[bellcord]

Stop this lying horseshit artist Schiff..Social Security is sound for 4 or 5 decades in the future..we foresaw the Baby Boomers hitting the system way back in '83 for fuck's sake and raised Soc Sec to it's current 7.38% of every paycheck you earn with your employer paying in an equal amount as well..Couse scumbag brokers like Schiff would sure like to get their hands on these $Trillions..

[Greyhawkism]

@bellcord You are so full of shit! Are you truly as stupid as you seem? The Government changed this from a voluntary thing into mandatory. They've been jacking us all around for decades! Why do you think our Government had JFK killed? He was an honorable man and was against this activity.

When I was young, my dad could fill a station wagon with groceries for $50.00. Try to do that today and you'll get laughed out of town!

[dukee155]

We should raise interest rates and have people save rather than spend.

[AtlasShruggery]

Republican Jesus says: "Who needs Social Security? Are there not homeless shelters for the elderly poor?"

[fieldman07]

@AtlasShruggery

A smart jesus would say: "social security?

Isn't that a scam?"

[WSidis]

The only valid argument against social security is to argue against social welfare, not the sustainability of the program itself. That argument is incorrect. You cannot win by arguing that it is going broke. But, people like to make sure old people can retire and not starve to death, so you can't appeal to people that way. So, these paleoconservatives make-up stories about it going broke. In 2041? Yeah, right. No real economist is saying that, because it won't happen. Think outside the box.

[DerMetzenger]

@aldenbuzz

We did just fine before 1935 without SS, its not a necessity. And SS would be fine if it were actually an investment instead redistribution of wealth. Didnt you listen to anything he said?

[aldenbuzz]

Social Security is a necessity.

Do you want Americans never to retire?

Ridiculous.

[911truthseekers]

Rothschild=Hitler=Jews=Israel=­NWO=Illuminati=International Bankers=Rothschilds/Jews with Dual Citizenships=9/11 and False Flag opperations=CFR=Media Coverups=Ron Paul=Audit the Federal Reserve=ending the Federal Reserve=the Chip=mark of the Beast=NWO=Control over Everything and Everyone from Israel=the Pyramid in Israel! Friends of the Rothschilds=Morgans=Tesla Coverups=HARRP=EARTHQUAKES AND FLOODS, MORGANS=CFR, WALLSTREET, PIRATES AND DRUG SMUGGLING, GOVERNMENT CONTRACTS. ROCKAFELLERS=OIL, FRE

[Nintendomanwill]

@911truthseekers

Schiff is too good for you people, you anti-semitic conspiracy theorist nuts.

[WSidis]

This is scary propaganda. Social security has over a trillion dollar surplus. Reagan, Bush, and Bush II are the reasons it's depleted (and they're the reason for the deficit). This video is garbage and doesn't follow common sense.

[ycformosa]

@WSidis

Haven't you gotten the statement from SS office? Read the find print. We are broke!

[WSidis]

@ycformosa And yet, you would rather the wall street bankers who caused us to go broke to be in charge of your retirement? You are fucked up. Social security is the most successful social program this country has ever produced, despite the constant effort by the privatization party to take that money away from the people and put it into the hands of Wall Street brokers. Fuck you, if you believe in that concept.

[biggerturtle]

@WSidis let the old fuckers die They should have prepared It's not up to me to support them FUCK THEM

[Pdrum2]

@WSidis Dude this isn't .propganda,this guy tells the truth, the most honest economist today

[rltmlt]

Gee, I wished all my retirement had been invested in Wall Street !

Stories of all those collapsed retirement funds that were tied to Wall Street investments are probably lies told by the liberal left !

[socialmedic]

I am suspicious because NOBODY is addressing all of the outsourced JOBS as job loss. I think they are skirting the issue and creating a spin on yet another failure of the market to self-regulate, like Enron, by comparing SS to Madoff. Madoff was an operator in the PRIVATE sector. How can they compare that with SS????

[Nintendomanwill]

@socialmedic

Perhaps because government bonds and social security work in exactly the same manner as a Ponzi scheme because rather than taking cash to be repaid from later reducing spending (in order to gain finance for war or whatever) they don't do that, they take the money, and pay people the dividends from bonds or tax, i.e returns are made by taking from Peter to give to Paul. I pay the govt £1, they spend it, take from you and reimburse me. (probably less in real terms than I paid in)

[Gunnarsguns]

Social security is proof positive that the american people have dogshit for brains.You wonder why the politicians rob you?...because you ask them to! Americans are beneath contempt for their voluntary mercenary stupidity.The more of you that disapear in fema camps the better off the world will be.

[karlkarlkarl1234]

Peter Shiff knows his stuff, and even though I'm not American, I would be going out of my way to help getting him into the Senate. You guys badly need someone who isn't blatantly corrupt.

[panther9mm]

I guess they are hoping that obesity will work its magic.

[ELGROOVER]

It's baffling stuff to me....all the financial chicanery th@ goes on. From wh@ I can make of this....

....Ponzi ain't cool ;-j

[after1001]

Peter Schiff again delivers a flawless answer to a complicated question. A true genius, we're all indebted to him for giving up his life and running for office.

[WSidis]

Not really though, considering he's wrong.

[bigmick142]

You can find a detailed rebuttal to the flawed premise of this video at

mickanomics-blogspot-com in the current (5th september) entry.

[jeremyemilio]

You don't know how a Ponzi scheme works. A Ponzi scheme temporarily pays more out than it takes in by expanding with more and more new investors. Ponzi scheme is also called a pyramid scheme because the base (new investors) is much larger than the peak (old investors). What you describe is a steady number of investors with new money paying old. If you can prove that's how SS works to, fine, but then your rebuttle isn't that it's a working Ponzi scheme but that it's not a Ponzi scheme at all.

[starlight1946]

No jobs means no paying into Social Security. I believe this was created to happen to help kill it. The Insiders know darn well what they have done and they want the people to depopulate by not having means to survive.

[TheInflationNation]

Even without this crisis, social security could not survive because of the silver tsunami aka baby boomers. There will not be a labor force big enough to support the baby boomers. This crisis is only going to help end social security sooner. It should never have been started to begin with. The politicians knew it would eventually end like this, but those that put in place helped their career out, and that's all they wanted.

[bigmick142]

Under *any* civilized system, younger workers have to support older non workers. The only alternative is to led the elderly starve to death or make them work till they drop. What other options could there be?

[freedomman121]

bigmick, go back and listen to this vid again.

[NoisemakerArrow]

How about everyone saves money during their working lives instead of blowing it on bullshit like big screen TVs, overpriced "fashionable" clothes and get-rich-quick stockmarket schemes? Then they'd have enough for retirement. Imbecile.

[rltmlt]

Right, your life always goes exactly the way you planned it, nothing unexpected ever happens . . . said the spider to the fly !

[NoisemakerArrow]

That's what friends and family are for, dumbass. There are plenty of people who help strangers and give to charity. You're just an idiot who thinks the government should be chewing his food and wiping his ass for him.

[Vunks2000]

Without a doubt, I guess there is one good thing that will come out of this depression. No more entitlement programs.

[joneselius]

That's common sense, I simply don't understand how people think this can be averted. Are people so utterly brainwashed by this propagated economic system?

Keynesian economics should never have started in the first place. How people even look at money without laughing is beyond me.

I once asked someone to pay me £10, without a promise, I actually wanted £10..... Couldn't be done. Only paper round here too. Ponzi scheme's are seen as legitimate within governments...... Why? Simple profit.

[justgetsome]

Agreed. We are now in a reverse pyramid. We have too many elderly people and not enough able workers contributing into the scheme. It has worked in the past because of a moderate default rate of around 5%. Now that unemployment is 10% and above(real numbers) the numbers just don't add up.

[Vunks2000]

Peter Schiff for Senate!!!

[reprahdm]

Send him some money then..... I did....Lets get off this marry go round of debt and get back to being an Industrial Technical GIANT

[spol07]

I find Max very annoying

[spol07]

@Pdrum2 You're barking up the wrong tree.

[BaronVonKhrispy]

Man, ponzi waas a piker ocmpared to ss

[mustang607]

Social Security is a Ponzi scheme that is legal and enforced. Therefore, says the government, it can not be a Ponzi scheme.