Government Ponzi Schemes

In South Africa a Ponzi Scheme is an Investment Scheme or Trust [often fraudulent] that runs on a pyramid style offering to pay very high interest on investments and the Top guy [s] siphon off great sums of money into private back pockets whilst paying the high interest rates from the cash flow generated by new investments.

 It works much like Democracy in America.  A career in Politics pays better than drug trafficking or crime combined.

 In South Africa we have gone one step further though I believe that then Americans are learning real fast and are catching up on us.  There was a time in Capitalism that the entrepreneur was the highest earner, obviously as a natural award for risking his own money and bonding his personal assets, but in our New Democracy Government salaries are now way ahead of entrepreneurial income levels.  Parliament first set the example but they were soon overtaken by 8 to 5 Municipal Managers [“Executives”] now “earning” the big bucks, driving the luxury cars and living the high life in the Mansions built for Kings.  Screw the “low-down” working poor and the unemployed, has become the slogan; “let them bake their own cake and eat it”, whilst reducing the smaller entrepreneur to the poor working class and taxing him to pay for the extravagances of the New Rich.

 It works like a Ponzi scheme; the only difference is that their one is legal.  Is it not ironic that it seems to surprise them when a private individual starts a small scheme of his own?  Out comes the law: freeze the bank account of the intruder; strip him of his assets; fast act, get him out of the way in no time at all.  They don’t suffer competition easily; after all they are in the Big League and intend to retain the leadership role.

 Read some more about one of my favorites; well I was a favorite of them too until I withdrew my investment support:

 http://www.censorbugbear.org/africa/south-africa/tussle-for-telkom-top-job

 [To be continued]

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4 Responses to “Government Ponzi Schemes”

  1. The Nation’s Ponzi Scheme | Mike's Place in Cyberspace Says:

    […] Government Ponzi Schemes (ikejakson.wordpress.com) […]

  2. Ike Jakson Says:

    Thanks Mike

    I shall be looking into your Site soon.

    ikejakson@gmail.co.

  3. Justin Swinford Says:

    First of all I want to say great blog! I had a quick question
    which I’d like to ask if you don’t mind. I was curious to know how you center yourself and clear
    your head prior to writing. I’ve had a tough time clearing my thoughts in getting my thoughts out. I do take pleasure in writing but it just seems like the first 10 to 15 minutes tend to be wasted simply just trying to figure out how to begin. Any suggestions or hints? Thanks!

    • Ike Jakson Says:

      Justin

      Thanks for dropping by; yiou are most welcome. I dropped into your Blog quickly and my first impression is that you have it well organized.

      My Post that you visited was based on actual experience that made it easy by walking back in time. I am rather pressed this morning but I shall get in touch with you again.

      IkeJ

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