Debt


In at least one respect, Social Security is even worse than a traditional Ponzi scheme:

 

Describing the Irish financial collapse:

A few months after the spell was broken, the short-term parking-lot attendants at Dublin Airport noticed that their daily take had fallen. The lot appeared full; they couldn’t understand it. Then they noticed the cars never changed. They phoned the Dublin police, who in turn traced the cars to Polish construction workers, who had bought them with money borrowed from Irish banks. The migrant workers had ditched the cars and gone home.

From today’s edition of The Wall Street Journal, one more thing for which to be thankful:

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Voters who are frustrated with California’s recurring multi-billion dollar budget deficits are going to be apoplectic when they realize the even greater problem of unfunded state pension liabilities.

Linked below is a great video parody of the state pensions: Genius.

This would be a much better world if more married couples were as deeply in love as they are in debt.

— Earl Wilson

“We got ourselves a mortgage broker. The waiter down at the Cracker Barrel restaurant said he could work wonders.”

— from the movie “The Last Days of Lehman Brothers”

Better check on who’s directing investment of your retirement funds!

A UK chocolate atelier is cashing in on its customers’ sweet tooth by offering high-interest bonds where dividends are paid in chocolate instead of money.

“It’s an alternative way of raising development funds for my company,” said Angus Thirlwell, CEO of chocolate atelier Hotel Chocolat. “Effectively, what we’re offering is a return which is paid out in chocolate instead of in the normal way of paying the return out in money.”

via UK chocolatier issues bonds with dividends in chocolate | Australian Food News.

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