<Old folks get something to carp about -- the $770 average monthly payment. Young folks get to tell old folks to shove off: That $770 will be a fortune in Sun City; we need the spare bedroom for a home gym. A huge number of government bureaucrats get a huge government bureaucracy to run. And politicians get an issue that everybody's for and nobody's against.

Definitely a little something for everybody.

In 1916 an Italian immigrant named Charles Ponzi created an investment fund that paid large dividends without making any investments. Money from new investors was transferred to old investors, while the new investors received money from newer investors yet. The system had flexibility and boldness, and worked as long as an ever-expanding pool of suckers could be found.

Interesting.

I believe Signore Ponzi has since been immortalized in email-spam format.

There is a way out of all this, Tom. ...Well -- for a little while, anyway... Retirement at 100.

Thx for sharing,
Dan