Obama's Ponzi Scheme

A reader post from Sidney E. Wing. Quite good, I must say. Thanks, Sidney!

Move Over, Madoff

Obama makes you look like a rank amateur

 

Well, Bernie, a sixty-five billion dollar scam, eh?  Sorry, Pal, you’ve been one-upped! Our new president has devised the mother of all Ponzi scams!  Compared to him, you’re bush-league.  He’s conducting a scam in the trillions of dollars.  Not only is he doing it with adoring masses, abetted by his congressional accomplices - he’s made it legal!

 

When Charles Ponzi brought it to America, who would have thought it would eventually become refined to the level achieved by our President? How has he, perhaps unwittingly, disguised its components? The parts are all there: investment, promise, bait-and-switch, deceit, misappropriation, and return crumbs.

 

Investment. A Ponzi scheme is defined as an investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from any actual profit or results achieved. Obama’s investors are us, the tax payers.  His only investment treatment is to selectively tap bank accounts of the most productive, keeping the number of his biggest victims to a digestable few, not to include or upset his electorate.

 

Promise. Through well documented fear-mongering Obama has framed our national economic challenge as a crisis that only government can resolve.  His rhetoric promises to invest our tax dollars through his stimulus plan to create millions of jobs, restore real estate values for financially responsible home owners, and restore confidence in public markets.

 

Bait and Switch.  Obama and team are consistent in their temerity, “Never allow a good crisis to go to waste.”  Therein lies conclusive evidence that Obama’s budget priorities are a great bait-and-switch. He promises to fix the financial crisis, but his actions are devoted to his long-standing liberal agenda on healthcare, energy and education as the solution, diverting resources and focus from real downturn causes.

 

Deceit.   His scheme is now exposed in the face of his now disclosed social agenda and absence of identifiable strategies and implementations that support the original vision he pontificated.  Having already taken a nose-dive from the ethical highground by blatantly reneging on his oath to eliminate ear-marks, he compounds his masquerade with a disingenuous claim that his signing of an ear-mark laden bill was last year’s business. But therein lies sleight of hand.and underlying dishonesty, so endemic to artful confidence men.

 

Misappropriation.  As investors, we the people have little influence in the near term as our wealth is commandeered and misdirected by Obama and his congressional conspirators.for social engineering. The indications were there, obfuscated by an adoring media.  Too few picked up on his socialist slips of tongue, and too many discounted his past associations and career-work priority, community organizing.  Socialism appears so ingrained that it’s the core of the man. In his righteous conviction, he’s tone-deaf to the damaging effects of his policies.

 

Return Crumbs. Recovery of jobs, mortgage relief, and stock market values will undoubtedly occur over time to some extent as free market forces begin to take hold, notwithstanding Obama’s assault on the private sector.  However slim the results, you can be sure he will rush to the front of any popular recovery parade in an attempt to pose as its leader, recall the direct funding (for one year) of 25 Cleveland police officers, an Obama media event! 

 

The Ponzi scam requires an ever-increasing flow of money from investors in order to extend the scheme. Collapse is assured as the payout is not sustainable due to the drain on finite reserves.   Obama’s plan clearly mortgages America’s future to an unsustainable extent.  British Prime Minister Margaret Thatcher stated in 1975, “The problem with socialism is that you eventually run out of other people's money," a truth even more poignant today.

 

The scheme is usually interrupted as legal authorities suspect the sale of unregistered, or phony, securities. Obama’s phony offering is his alleged commitment to do all necessary to stem the economic tide.  He just needs our assets along with power of attorney to pull it off.

 

Unfortunately, legal authorities are asleep on this one, or worse yet - in cahoots with the perpetrator.  Our only alternative is the vote.  Hopefully, Americans will soon sense the disaster looming on the horizon and retake our national birthright, a free-enterprise capitalistic economy, by neutering Obama and his agenda in the 2010 congressional elections.  Having shown his colors the emperor is now naked, not a presidential leader as was hoped – but a vastly empowered organizer with a not-very-hidden agenda. So, how is he unlike Bernie?  It’s just a matter of scale.