Is the American Economy a Ponzi scheme?

[Delta4Embassy]

Scariest documentary ever is called "End of the Road: How Money Became Worthless (2012)" and depicts the American economy as just that, a massive Ponzi scheme.

Bearing in mind I'm no economist and have very limited understanding in economics, it makes a convincing case that yes indeed, we're headed for an economic collapse since going off the gold-standard in '71. Scary stuff. Kinda paints a very grim picture making everything else we're worrying about seem trivial by comparison. If global markets are all interconnected and the lead one, the US, is a Ponzi scheme and eventually crashes, then those people on 'Doomsday Preppers' migh tbe right afterall.

Stock up on canned goods...

 

[Kimura]

Scariest documentary ever is called "End of the Road: How Money Became Worthless (2012)" and depicts the American economy as just that, a massive Ponzi scheme.

Bearing in mind I'm no economist and have very limited understanding in economics, it makes a convincing case that yes indeed, we're headed for an economic collapse since going off the gold-standard in '71. Scary stuff. Kinda paints a very grim picture making everything else we're worrying about seem trivial by comparison. If global markets are all interconnected and the lead one, the US, is a Ponzi scheme and eventually crashes, then those people on 'Doomsday Preppers' migh tbe right afterall.

Stock up on canned goods...

It's garbage, one of my friend's pleaded w/me to watch it about a month ago. I have an extensive background in both economics and finance, and that documentary is the end result of interviewing alleged experts that really don't have a clue or historical understanding about the nature of money or modern monetary operations. Peter Schiff and G Edward Griffin belong in padded rooms.

My two cents....

 

[jasonnfree]

Scariest documentary ever is called "End of the Road: How Money Became Worthless (2012)" and depicts the American economy as just that, a massive Ponzi scheme.

Bearing in mind I'm no economist and have very limited understanding in economics, it makes a convincing case that yes indeed, we're headed for an economic collapse since going off the gold-standard in '71. Scary stuff. Kinda paints a very grim picture making everything else we're worrying about seem trivial by comparison. If global markets are all interconnected and the lead one, the US, is a Ponzi scheme and eventually crashes, then those people on 'Doomsday Preppers' migh tbe right afterall.

Stock up on canned goods...

Edward Griffin has been predicting doom for decades. After we went off the gold standard when Nixon was president I was hearing this stuff. I've stocked up a few times myself after listening to people like him, and not a bad idea for emergencies or getting laid off work, but some of these guys, it's a business and they just keep cranking out material.

 

[JimmieD]

A ponzi scheme is a very particular kind of scheme. "Ponzi Scheme" it American discourse today has little meaning besides "worthless" or "I disagree."

But please, do explain how the American economy in any way fits the bill of a legitimate ponzi scheme.

 

[Toro]

No.

 

[RandomVariable]

I have not seen the documentary so I can not comment on that directly but I do have some thoughts on the matter, of course. These are just off the cuff, nothing well researched. I did some searches for "economy" on YouTube and got 90% doomsday videos. A quip I heard the other day, "Between conspiracy and incompetency I would go with incompetence." I believe our economic system currently is in a boom and bust dynamic. Businesses are arguing for this undefined concept of "capitalism" which is at the root of this instability. Government regulation should be able to smooth out cycles but we who is stopping that from happening. The boom starts as soon as the average American has enough money to invest in something stocks, houses, whatever, the financial institutions take in every last penny the people can possibly put in. Then the crash and people lost the job, the house, and just about everything else they own. The financial institutions keep all assets in addition to everything else they can pick up on the cheap. One reason for this "incredibly slow recovery" is the Obama administration is trying to break the cycle. Had Romney got elected our economy would be roaring right now, right up to the top of the hill for yet another ride. If a Republican gets elected in 2016 the economy will really take off, and come back down as hard as ever. Every heard the saying, "Buy low, sell high."?

 

[oldfart]

I have not seen the documentary so I can not comment on that directly but I do have some thoughts on the matter, of course. These are just off the cuff, nothing well researched. I did some searches for "economy" on YouTube and got 90% doomsday videos. A quip I heard the other day, "Between conspiracy and incompetency I would go with incompetence." I believe our economic system currently is in a boom and bust dynamic. Businesses are arguing for this undefined concept of "capitalism" which is at the root of this instability. Government regulation should be able to smooth out cycles but we who is stopping that from happening. The boom starts as soon as the average American has enough money to invest in something stocks, houses, whatever, the financial institutions take in every last penny the people can possibly put in. Then the crash and people lost the job, the house, and just about everything else they own. The financial institutions keep all assets in addition to everything else they can pick up on the cheap. One reason for this "incredibly slow recovery" is the Obama administration is trying to break the cycle. Had Romney got elected our economy would be roaring right now, right up to the top of the hill for yet another ride. If a Republican gets elected in 2016 the economy will really take off, and come back down as hard as ever. Every heard the saying, "Buy low, sell high."?

Did you hear they dug up a 5,000 year old Babylonian clay tablet? It said "Buy sheep; sell deer".

 

[RandomVariable]

I have not seen the documentary so I can not comment on that directly but I do have some thoughts on the matter, of course. These are just off the cuff, nothing well researched. I did some searches for "economy" on YouTube and got 90% doomsday videos. A quip I heard the other day, "Between conspiracy and incompetency I would go with incompetence." I believe our economic system currently is in a boom and bust dynamic. Businesses are arguing for this undefined concept of "capitalism" which is at the root of this instability. Government regulation should be able to smooth out cycles but we who is stopping that from happening. The boom starts as soon as the average American has enough money to invest in something stocks, houses, whatever, the financial institutions take in every last penny the people can possibly put in. Then the crash and people lost the job, the house, and just about everything else they own. The financial institutions keep all assets in addition to everything else they can pick up on the cheap. One reason for this "incredibly slow recovery" is the Obama administration is trying to break the cycle. Had Romney got elected our economy would be roaring right now, right up to the top of the hill for yet another ride. If a Republican gets elected in 2016 the economy will really take off, and come back down as hard as ever. Every heard the saying, "Buy low, sell high."?

Did you hear they dug up a 5,000 year old Babylonian clay tablet? It said "Buy sheep; sell deer".

They need to bury that thing back where they found it so that doesn't happen again.

 

[Kimura]

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[Toro]

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