Today, I had a conversation with an economic college (university) professor.
Professor: What book are your reading?
Me: The Wolf of Wall Street.
a few minutes later …
Me: What’s your opinion on this Wall Street Ponzi scheme?
Professor: It’s the 2nd largest Ponzi scheme in the United States of America.
Me: (Think John what was bigger, damn I don’t know …)
Professor: Let me give you a hint. All of your Boston real estate blog readers are victims of the biggest Ponzi scheme in U.S. history.
Me: (Stalling for time …) How ’bout those Patriots?
So, can you guess what he is talking about?
The answer, after the jump.
The university professor says he believes the biggest Ponzi scheme in US history is Social Security.
He has a point. We’re all paying into the system, yet only those who are currently getting benefits are guaranteed any payments.
Kind of makes you wish you were at least 65-years old, doesn’t it?!