Saturday, August 29, 2009

Governments are running Ponzi Schemes Nouriel Roubini



Doctor Doom Nouriel Roubini in his recent article on Forbes entitled The Spend And Borrow Economy dated 08.27.09 explains elegantly the governments deficits and over spending "When governments reach the point where they are borrowing to pay the interest on their borrowing they are coming dangerously close to running a sovereign Ponzi scheme." he said , I could not agree more ...
Read the entire article here:

2 comments:

Shane Merritt said...

Technically, the very structure of Social Security is a Ponzi Scheme. I don't think we can depend on them to turn themselves in when the ponzi is up though... America is mesmerized by hopenosis and partisan politics.

zip90210 said...

nah, nah, nah...not so fast, there Roubini. Don't blame the governments. Blame the people who own the governments, which would be the privately owned central banks, which act on the governments like the mob does. With them it's pay or no play. To blame the governments is to prep us for the logical conclusion: let's get rid of the governments and create a new world order. You are talking like you are turning up the heat on a bunch of frogs in hot water.

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