[R-G] [BillTottenWeblog] Borrowing from Peter to Pay Paul

[aaron doncaster]

Hey, I am a little confused. I am trying to figure out the difference
between hedging and derivatives,or are they one in the same?? any good
reading material to understand the different tools that these scam
artists(bankers and investors)use to make their money??

Aaron

On Mon, Jan 5, 2009 at 9:41 AM, Intense Red <intnsred at golgotha.net> wrote:

>   An excellent article, full of info and interesting ideas. Sadly, I don't
> see such a system emerging. The ruling class will try to fix the existing
> system and barring a larger collapse, there exists no large social
> movements
> to pressure the gov't to reorganize the system.
>
>   I would disagree with one point in the article:
>
>  > Interestingly, Social Security and Medicare themselves are in some sense
>  > Ponzi schemes, since earlier retirees collect their benefits from the
>  > contributions of later workers. These programs, too, may soon be facing
>  > bankruptcy, in this case because their mathematical models failed to
>  > account for a huge wave of Baby Boomers [...]
>
>   While those programs have been expanded somewhat, the increase in
> lifespans
> and retirement of the baby boomers have long been calculated and modeled.
> This was the key reason for Carter's series of large increases in FICA
> taxes.
> He wanted to start saving for their retirement. The key problem was that
> the
> SS trust fund money was spent by Reagan, Bush Sr., and succeeding
> presidents.
>
> --
> George Bush said the US was "addicted" to oil. Remember, addicts have been
> known to commit murder to feed their addiction.
>
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