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      11-19-2013, 08:36 PM   #1
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Insurance fraud

Insurance fraud: who can commit it with out going to jail. POTUS
Ponzi scheme: who can commit it with out going to jail. POTUS
Product fraud: who can commit it with out going to jail. POTUS

Any comments?
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      11-20-2013, 01:27 AM   #2
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I haven't fallen victim of any ponzi scheme under any president's tenure. I haven't been the victim of any sort of insurance or product fraud either, for that matter.
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      11-21-2013, 05:36 PM   #3
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I haven't fallen victim of any ponzi scheme under any president's tenure. I haven't been the victim of any sort of insurance or product fraud either, for that matter.
You don't pay into SS?
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      11-21-2013, 05:55 PM   #4
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You don't pay into SS?
Is SS going away?
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      11-21-2013, 06:20 PM   #5
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Is SS going away?
Yes.

Depending on who you ask, it'll be gone between 2025 and 2060. The US Government has over 90 trillion in unfunded liabilities ahead of it, much of which is dedicated to social benefits (SS, medicare, etc).

As much as I don't care for our current POTUS, I certainly won't even to begin to pin that issue on him. The Federal Reserve is way, way, way more responsible for our financial conundrum than BHO.
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      11-21-2013, 06:53 PM   #6
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Is SS going away?
Yes.

Depending on who you ask, it'll be gone between 2025 and 2060. The US Government has over 90 trillion in unfunded liabilities ahead of it, much of which is dedicated to social benefits (SS, medicare, etc).

As much as I don't care for our current POTUS, I certainly won't even to begin to pin that issue on him. The Federal Reserve is way, way, way more responsible for our financial conundrum than BHO.
Not Obama's fault but a POTUS fault none the less. It was at one time up to one of them to be able to use the SS funds for other stuff.
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      11-21-2013, 06:56 PM   #7
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You don't pay into SS?
Is SS going away?
Also, you do know what a Ponzi scheme is right?

Since there is no account or reserve that holds the benefits owed the people who paid into it their whole life it is by definition a Ponzi scheme.

The only reason it hasn't failed (yet) as others do is because people are forced to keep throwing money at it.
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      11-21-2013, 08:15 PM   #8
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Also, you do know what a Ponzi scheme is right?

Since there is no account or reserve that holds the benefits owed the people who paid into it their whole life it is by definition a Ponzi scheme.

The only reason it hasn't failed (yet) as others do is because people are forced to keep throwing money at it.
Good point. By that definition SS technically is a ponzi scheme.

Do you think they'll just let it fail one day or do you think they'll just increase taxes accordingly in the future?
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      11-21-2013, 11:16 PM   #9
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Not Obama's fault but a POTUS fault none the less. It was at one time up to one of them to be able to use the SS funds for other stuff.
SS was first raided by POTUS in WWll to help finance the war along with war bonds. BTW: this was the same POTUS that created it
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      11-21-2013, 11:22 PM   #10
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Also, you do know what a Ponzi scheme is right?

Since there is no account or reserve that holds the benefits owed the people who paid into it their whole life it is by definition a Ponzi scheme.

The only reason it hasn't failed (yet) as others do is because people are forced to keep throwing money at it.
Good point. By that definition SS technically is a ponzi scheme.

Do you think they'll just let it fail one day or do you think they'll just increase taxes accordingly in the future?
I'm a little cynical. I think at some point we are going to default. We could stop it with major spending reform but I think default is more likely, which is sad.

The main thing keeping us from defaulting (in my opinion) is our massive debt. It will wreak havoc on the world economy.

Hard to predict what is gonna happen when the stakes are so high.
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      11-22-2013, 03:04 PM   #11
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Quote:
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Good point. By that definition SS technically is a ponzi scheme.

Do you think they'll just let it fail one day or do you think they'll just increase taxes accordingly in the future?
The US is facing over $100 trillion in future unfunded liabilities. You can raise taxes all you want, but there isn't enough money in this entire continent to cover that.

The US is going to default, and the dollar is going to crash. This is going to happen in my lifetime.

Again, I won't blame BHO for starting this trend. He certainly hasn't done anything to stop it though, or even slightly slow it down. He basically got behind the wheel of an already speeding car and floored it.
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      11-22-2013, 03:24 PM   #12
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The US is facing over $100 trillion in future unfunded liabilities. You can raise taxes all you want, but there isn't enough money in this entire continent to cover that.

The US is going to default, and the dollar is going to crash. This is going to happen in my lifetime.

Again, I won't blame BHO for starting this trend. He certainly hasn't done anything to stop it though, or even slightly slow it down. He basically got behind the wheel of an already speeding car and floored it.
Someone on this forum said some time ago that the US is like a car that has already crashed through the guard rail and is starting it's free fall decent to the canyon floor. And we're all on board.
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      11-22-2013, 04:46 PM   #13
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Someone on this forum said some time ago that the US is like a car that has already crashed through the guard rail and is starting it's free fall decent to the canyon floor. And we're all on board.
That's a pretty good analogy.
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      11-23-2013, 08:04 AM   #14
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The US is facing over $100 trillion in future unfunded liabilities. You can raise taxes all you want, but there isn't enough money in this entire continent to cover that.

The US is going to default, and the dollar is going to crash. This is going to happen in my lifetime.
Yep, but first they'll inflate, inflate, inflate (as they already are) and screw over everyone who wasn't game for just living off government programs and collecting their Obamaphones instead of working.

I want to get out of the states in the next few years. Although people point out that a lot of other places aren't exactly "free" either, at least they don't advertise that they're the freest country in the world and then anal probe you for rolling through a stop sign and make you pay for it.
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      11-23-2013, 09:23 AM   #15
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Yep, but first they'll inflate, inflate, inflate (as they already are) and screw over everyone who wasn't game for just living off government programs and collecting their Obamaphones instead of working.

I want to get out of the states in the next few years. Although people point out that a lot of other places aren't exactly "free" either, at least they don't advertise that they're the freest country in the world and then anal probe you for rolling through a stop sign and make you pay for it.
The dollar is going to experience hyper-inflation, and I think it's going to be pretty soon. In my opinion, the Federal Reserve is the root of the majority of the problems in this country. It's the enabler of sooooo many things that are driving this country into the ground. What's disturbing to me is how ignorant most people are of the Federal Reserve; many don't know it even exists. I'm sure this is just how the government wants it too.

I'm with you on bailing out of the US. I've been looking at Canada, and possibly South America as possibilities.
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      11-23-2013, 11:40 AM   #16
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I'm with you on bailing out of the US. I've been looking at Canada, and possibly South America as possibilities.
It always looks greener on the other side of the fence, but seldom is.
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      11-23-2013, 09:12 PM   #17
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New Zealand. Lil chilly though.
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      11-23-2013, 10:00 PM   #18
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New Zealand. Lil chilly though.
Brazil maybe? It's warm, and they have an F1 race
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      11-26-2013, 11:51 PM   #19
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I hate threads like this. Getting my green card was not easy. Now I have to move again?
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      11-30-2013, 04:14 AM   #20
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New Zealand. Lil chilly though.
Canada is cold and heavy socialism bordering communist. Belize ? Panama?
Where can we take our assets without getting robbed on the way ie guns ammo food gold etc
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      02-15-2014, 11:23 PM   #21
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      02-23-2014, 06:14 PM   #22
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New Zealand. Lil chilly though.
NZ prob won't let you in - they heavily restrict immigration...

Since this is a car thread, how about the Chevy Obama - I mean Volt? It cost every tax paying US family $680 - are you enjoying yours?
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