The new money pays the benefits of the old money. It’s an obvious ponzi. Rick Santelli is the only person who tells it like it is, and how screwed this economy actually is.

Both of these guys suck. Santelli is a Wall Street whore, and Friedman of “suck on this” fame is both a warmonger and “free” trade-obsessed moron.
Wonder why the U.S. economy is in the toilet? It’s because of the thinking of “experts” like this

FRIEDMAN: It is pay as we go. Ronald Reagan fixed it. Why can’t we fix it?

If Reagan fixed it, why is it broken?  Because we kept spending the money on other things. Thus, Ponzi scheme.  Duh.

Well, him and Rick Perry.

Friedman is a loon.

Rick santelli is wall street whore who spends more time on his knees to know anything about what is going on in the real world

Ponzi scheme implies it is based on fraudulent, illegal intentions, which it is not. You can say it is mismanaged or not sustainable. That said, I am sure using that term plays well to the teabaggers, as did saying Obama was born in Kenya and is a secret Muslim.

Only two kinds of people oppose free trade:  Union members and xenophobes.

Can you provide this video footage of him on his knees?

The SEC defines a Ponzi scheme: “A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.”
Considering that population growth is not at the rate it was when the boomers were being born it is effectively a ponzi scheme. People around my age, 24, are not going to get the benefits we’re being promised at the rate we’re paying in. If you think that we are, you’re delusional. Most college grads can barely find work, so the next generation for us to pass the ponzi on to is even smaller than mine. 

Like it or not, it’s a ponzi.

Desiring of facts com a lefty loon? Are you on crack? Just kidding. It actually makes me wonder about the argument conservatives view right and wrong via facts whereas liberals see right and wrong via what they ‘feel’ is right.

Thomas Friedman just makes me tired.  He comes on pumping his book and acting like he has these brilliant ideas that no one has ever conceived before.  What a pompous, self-absorbed book pusher.  And then some little CNBC guy dares to challenge him?  Not the great Thomas Friedman!  I watched it live and we all just collapsed laughing at the arrogance of the great Thomas Friedman.  How could anyone question this great and all-knowing man?   

Rick Santelli is the man, he does not worry about being politically incorrect.

It’s a system that relies upon the pay-ins of future investors to fund the fund the pay-out obligations of current investors.  What’s unusual about all this is that people have been calling social security a Ponzi Scheme or Pyramid Scheme for many years.  Why has it suddenly become heretical to say it?

Freidman is an infantile jackass. In otherwords a left wing partisan hack.

It’s not a Ponzi scheme.  The SEC definition includes one word that blows up your interpretation of it: fraud.  There isn’t any fraud.  An unfulfilled promise is not fraud.

we need a lockbox

If by Unions you mean the middle class then sure…because the middle class has been absolutely decimated by so called Free Trade.  It’s where the jobs have gone…simple as that!

Or, you know, people who support human rights.  Free trade isn’t free.  There’s always someone being stepped on.

Democrats want to pretend there is no problem, sort of like the national debt. Politicians hope it collapses after they are out of office.

No fraud=no ponzi.

“In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual”

The personal gain is VOTES. VOTES=POWER

Right now politicians are taking your money out of your paycheck knowing that the system is insolvent, while promising that you will get your payout. Yet, they have no idea where this money will come from. You can argue semantics but that fits the definition of fraud. No private company could pull those tricks. 

This article below show’s why Social Security is worse than a ponzi.

http://reason.com/blog/2011/09/07/mr-perry-social-security-is-no

Excerpt: “Three: When a Ponzi scheme can’t con new investors in sufficient numbers to pay the previous investors, it collapses. But when Social Security runs low on investors—also called poor working stiffs—it raises taxes.”

“In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual”

The personal gain is VOTES. VOTES=POWER

Right now politicians are taking your money out of your paycheck knowing that the system is insolvent, while promising that you will get your payout. Yet, they have no idea where this money will come from. You can argue semantics but that fits the definition of fraud. No private company could pull those tricks. 

This article below show’s why Social Security is worse than a ponzi.

http://reason.com/blog/2011/09/07/mr-perry-social-security-is-no

Excerpt: “Three: When a Ponzi scheme can’t con new investors in sufficient numbers to pay the previous investors, it collapses. But when Social Security runs low on investors—also called poor working stiffs—it raises taxes.”

Common law fraud has nine elements

1. A representation of an existing fact;
2. Its materiality;
3. Its falsity;
4. The speaker’s knowledge of its falsity;
5. The speaker’s intent that it shall be acted upon by the plaintiff;
6. Plaintiff’s ignorance of its falsity;
7. Plaintiff’s reliance on the truth of the representation;
8. Plaintiff’s right to rely upon it;
9. And consequent damages suffered by plaintiff.

Most jurisdictions in the United States require that each element be
pled with particularity and be proved with clear, cogent, and convincing
evidence (very probable evidence) to establish a claim of fraud. The
measure of damages in fraud cases is to be computed by the “benefit of
bargain” rule, which is the difference between the value of the property
had it been as represented, and its actual value. Special damages may
be allowed if shown proximately caused by defendant’s fraud and the
damage amounts are proved with specificity.

http://en.wikipedia.org/wiki/Fraud

Friedman is quite sad, an intelligent man who fails to see the world as it is. Friedman’s trapped within the MSM-EU bubble just can’t fathom the pending worldwide collapse of liberalism and the welfare state. 
He is indicative of many in academia and intelligenca who have worshiped false god’s of a command economy drive by an elite. He continuous praise of China and it’s guided economy is a perfect example. 
So Tom, wake up, the rich are not rich enough to pay for liberalism, no the middle class will have to pay for it and guess what – they don’t want to.
Social Security is a Ponzi scheme, generations of liberals knew it, but refused to fix it because they truly want a dependent class.

Unions have lost jobs because of upper management within unions.

Unions have lost jobs because of upper management within unions.

Or it could’ve been the fact that I was sarcastic and you read into my question too much. :)

To those who say that this isn’t a ponzi because there is fraud, here you go.

“In criminal law, a fraud is an intentional deception made for personal gain or to damage another ”In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual”

The personal gain is VOTES. VOTES=POWER
Politicians are defrauding the public through the social security ponzi. It’s amazing who people willfully blind themselves to this fact. 

To those who say that this isn’t a ponzi because there is fraud, here you go.

“In criminal law, a fraud is an intentional deception made for personal gain or to damage another ”In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual”

The personal gain is VOTES. VOTES=POWER
Politicians are defrauding the public through the social security ponzi. It’s amazing who people willfully blind themselves to this fact. 

What about those funny little treasuries in the fund?  You know the $2.3 trillion in what most congressmen simply call IOU’s…  But they are special, seems that the only place you will find them is in the Social Security Trust Fund.  Seems that the money I paid in is long gone…  Now if my employer did the same with my 401K that would certainly be considered FRAUD, but since the Federal Government did it somehow it is not.  When did our government become immune to the laws that the rest of us are subject to?

Absolutely loved Friedman’s lofty disdain of this carnival barker, whose bad advice is party responsible sheet we’re all in now. This exchange tells us all we need to know about this loudmouth

FRIEDMAN: It is pay as we go. Ronald Reagan fixed it. Why can’t we fix it?SANTELLI: What does Ronald Reagan have to do with my question?What does Ronald Reagan have to do with my question? What does Ronald Reagan who reformed social security, have to do with a a question about social security.You cant make this up. This epic, mountainous ignorance and blowhardism from Santelli.

Who gets stepped on is third world countries trying to industrialize.  A middle class in other countries isn’t created out of thin air, you know.

This is one of the things that bothers me most about liberals.  White liberals get to feel good that they’re not “exploiting” others, while the people who have no work rely on the UN to avoid starving to death. 

Rick Santelli fights for the powerful and rants against hte powerless. He is a crap human being.

It’s no secret that Santelli is a buffoon. No surprise here.

Friedman is a sanctimonious, arrogant, & obnoxious moron!

Friedman is a Zydokomuna.

Friedman also thinks China is just awesome.

Santelli is the son of immigrants who clearly has forgotten where he came from. This unabashed sense of entitlement and that of all other Boomer free marketers is what is going kill this country.

Way to barf out the socialist talking points. Soros must be proud.

He is the American dream of his immigrant parents.  Come here, work hard, get the brass ring. 

An entitlement is something that is given.  A paycheck is something you earn. 

The American dream of being free and making something of yourself without benefit of royal birth or largesse is part of the very foundation as to why this country was created in the first place.

You’ve got it bass ackwards.

Oh I see.  So I can do a Ponzi Scheme as long as I say I’ll fix it?

Congress can’t agree on anything, what makes you think they’ll fix it?

Oh I see.  So I can do a Ponzi Scheme as long as I say I’ll fix it?

Congress can’t agree on anything, what makes you think they’ll fix it?

Rick Santelli is a loudmouth buffoon. Michelle Caruso Cabrera is dumber than the chair she sits on. Thomas Friedman did good today

Exactly. If one of the countries involved isn’t free and uses sweatshops and prison labor, then it’s not “free” trade. It’s taking advantage of human rights abuses to make a buck.

Funny – polls show the public overwhelmingly hates these corporate trade deals. 

Yes, lets blame it on unions who are at an all-time low as far as the percentage of households that have members. We didn’t have this problem of outsourcing when unions had real power.
Would you prefer the U.S. lower its standards to become more like China? 

or correct about anything for that matter. He’s another Wall Street imbecile dedicated to the school of thought that wrecked the economy.

Crap, I didn’t mean to like the above post. I think Rick is an important, intelligent voice that needs to continue speaking out.

You’re right, here are 3 reasons Social Security isn’t a Ponzi scheme (via Reason http://reason.com/blog/2011/09/07/mr-perry-social-security-is-no):

One, a Ponzi scheme collects money from new investors and uses
it to pay  previous investors—minus a fee. But Social Security
collects money from new investors, uses some of it to pay previous
investors, and spends the surplus on programs for politically
favored groups—minus the cost of supporting a massive bureaucracy.
Over the years, trillions of dollars have been spent on these
groups and bureaucrats.

Two, participation in Ponzi schemes is voluntary. Not so with
Social Security. The government automatically withholds payroll
taxes and “invests” them for you.

Three: When a Ponzi scheme can’t con new investors in sufficient
numbers to pay the previous investors, it collapses. But when
Social Security runs low on investors—also called poor working
stiffs—it raises taxes. And given that the worker-to-retiree ratio is expected to fall
from 3-1 today to 2-1 in 2030 (down from 16-1 in 1950) these taxes
will only go up unless the government decides to kick retirees in
their dentures and slash benefits.

The ONLY secret Muslim here is YOU. You use a phony name to hide everything about yourself. You are a liar and a shill for Obama. You may have been born in Kenya? Now go back to herding your goats.

Three definitions here fits the Social Security program:

FRAUD
noun
1.
deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage.
2.
a particular instance of such deceit or trickery: mail fraud; election frauds.
3.
any deception, trickery, or humbug: That diet book is a fraud and a waste of time.
4.
a person who makes deceitful pretenses; sham; poseur.

Both Thomas Friedman’s neo-liberal ideas and Rick Santelli’s faux-tea party populism are equally idiotic.

It is the exact definition of a ponzi scheme.  Look it up.  It’s easier to deflect and call people derogatory names than it is to deal with the truth isn’t it Obama pawn.

Yeah two geniuses..Everyone who works with Santelli thinks he is a moron, as do I..He is just a loud mouth that just screams louder or whines when someone disagrees with him.. Perry clearly has shown himself to be way above his head.. It isnt a Ponzi scheme as the money used is not for fraudulent purposes nor is SS insolvent for at least 50+ years.

happy go go———–w w w j o r  d a n f o r w o r l d c o m 

-
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-
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Fat old Tom Friedman has such a sour puss when someone talks back to him!    

1. Social security is secure
2. trillions of dollars
3. Intragovernmental debt obligations. The IOUs (AKA) the funds clinton tapped when he “lowered the national debt”
4. Politicians are aware of this
5. Intent in this case? haha. It’s TAKEN automatically out of your paycheck
6. Seriously? People think it’s a fact of life since it’s inception
7. Of course they rely on it. It’s supposed to be their retirement
8. They have a right, they paid into it
9. The money’s going to run out

There’s all nine of your definitions

Would’ve put money on Angry Rickie having started that one. I guess not this time

Stop the name calling, man up and leave childish behavior at home! Obama wins again! Forecasters have spoken and the TEA party Yahoos have another loss to hang their heads on!  How to fix Social Security now! Here’s a summary of ideas to add solvency or extend Social Security. First, raise the cap on income subject to FICA taxes from $106,800.0­­0 to $190,000.0­­0 as proposed by AARP in their current issue. AARP   suggest this would close 31 percent of the gap. Workers who normally paid 6.2 percent had that reduced to 4.2 percent by the last Congress. The TEA party would raise that percentage back to 6.2 Percent under their proposal currently in the House. Employers now pay 6.2 percent towards FICA and if that were increased 0.1 percent to 6.3 percent additional easing on the gap would occur. By raising the cap in the first item to $250,000.0­­0 and leaving the tax rates as they are now, would further ease the gap in tax revenues and spread the pain across more of the earnings of more Americans. Everyone, who is eligible, can get Social Security when they reach the retirement age. Everyone should be taxed at the same rate as everyone else and on all sources of income throughout their entire working  or earning years.  If you thinks this would help to fix this problem or at least ease it, may I suggest you write and call your Representative and Senator in Washington and make your voices heard!

Yes. The man who is trying to tell you the money you’re putting into a system has been plundered by politicians fights for the powerful.

The man who warns that Bernanke’s money printing is ruining the economy and leading to higher food and gas prices fights for the powerful.

The man who warns time and time again that the Federal Reserve keeping interest rates low punishes the Elderly who earn no interest on the money they’ve saved over their life times fights for the powerful.

Wake UP!

Santelli is about two more live appearances away from his head exploding on air.  He is BatShit crazy!

Once all the unions are gone and things are still getting worse in what was America, they’ll be ranting about the liberal takeover through their slobbering. 

If you actually understood the words coming from Santelli’s mouth, you’d understand all the video of him on air is of him sucking Wall Street cock.

AJ,

Try as you might, you can’t convince anyone or reasonable intelligence that Social Security is a Ponzi scheme.

Think about this for a second – if I borrowed money from a bank and failed to repay the loan - the bank still has to make their depositors whole.  How are they going to do that?

Better yet do you trust the word of Rick Perry or Factcheck.org?

http://factcheck.org/2011/09/factchecking-the-reagan-debate/

Maybe Santelli is doing us all a favor, and I’m surprised that a pussy Liberal like Friedman stood his ground. The rightwing dingbats appear to be wanting to speed up their demise. Calling Social Security a Ponzi Scheme will certainly knock Perry out of the box and the Republicans will have to find another witless prop before they have to face the inevitable and nominate Romney, probably the only Republican who stands a chance, however slight, of defeating Obama. Social Security is just fine and the long term problems can easily be worked out. This is just another very dumb attempt to do what Bush started, which is to privatize Social Security and peg it to the stock market. How out of touch can these boobs be. It’s surprising that there has been no genuine populist movement in this country as there has been in Europe where conditions in most countries is better than here because they have more structural protection like universal health care and stronger unions, etc. An attack on Social Security will definitely bring us senior citizens out on the streets. Like many older people today (I’m in my 70′s), more and more of us are in good health and have a lot of strength and energy to make ourselves heard, and we will if these fools attempt to degrade Social Security.

Rick Santelli is your hero?

Are you serious?  He works on WALL STREET and you think he is out for the little guy?

He said screw the broke guy when Obama took office and wanted to help people out who couldn’t pay their mortgages.

Rick didn’t care why you couldn’t pay your mortgage he just thought it was wrong to prop up the “losers.” And those were his words.

Yes I’m serious. And he worked on the Chicago Mercantile exchange as a commodities trader. He also was against the bank bailouts. Low interest rates and inflation are bailouts for the bank.

Obama is the one who doesn’t care why you can’t pay your mortgage. That’s why he’s interfering in the NY AG Schneiderman’s fraud investigation of the big banks. The Obama admin is trying to push a bogus $8.5 billion settlement that exempts the banks from Criminal prosecution.

http://www.huffingtonpost.com/2011/08/23/new-york-attorney-general-eric-schneiderman_n_934517.html

Obama’s treasury secretary worked at the NY Fed and was instrumental in the bank bailouts. Obama’s biggest campaign contributors are Wall Street. 

You may think Obama wants to help the little guy. His programs are pennies compared to the trillions in bailouts the banks have been getting, including foreign ones. If Obama cared about the little guy he would compel congress to impeach Bernanke.

Santelli has not clue what he’s talking about.  Most people down on the trading floor think so too.  

So the banks shouldn’t have been bailed out?

Do you think there is a better system of moving money around since we don’t need banks any more?

No the banks shouldn’t have been bailed out. I never said we didn’t need banks. You talk about me wanting to screw the little guy, but now you’re supporting the same institutions that are screwing the little guy? The original bailout was a 3 page term sheet from the Sec Paulson (Former Goldman CEO) with him basically threatening there’d be tanks in the street. The bailout was nothing more than a way for the big shots to protect their wealth and have it paid for by the tax payer. You don’t think Paulson knew that this was going to happen given his stint at Goldman? This was nothing more than fraud, and what did Obama do? He stacked his cabinet with the same cronies (Geithner and Summers). And now rumor has it that Jamie Dimon could be the next treasury secretary, what a joke.

You can choose to delude yourself. I will stick to my principles.We do have a bankruptcy system in this country and the banks should have been resolved through the FDIC.

Friedman is the worst kind.  He is a radical liberal who purports to believe in “global warming” and raising taxes but he lives in a gated 10,000 square foot house, drives his SUVs and is worth hundreds of millions of dollars that his wife inherited.  What a complete fraud.  What a typical limousine liberal.

You better hurry up and start your protest because you ain’t going to be around much longer.

Being loud, rude and abrasive doesn’t make you right, and it certainly doesn’t make you smart.  But being loud, rude and abrasive are Santelli’s primary talents.

This Fried-Dough guy from the NYT lives large like a haughty elite Lib…take a look at the house he lives in. It has ‘Millionaire’ written all over it. He’s ‘Mr. Butterworth’ to Janet Napalatano’s ‘Mrs. Butterworth.’ Both are fat, bleeding socialists who really need to Go To Hell (courtesy Maxine Waters).

Ya.  In 2037 – if we make absolutely no change – SS will only be able to pay 75% of benefits, geniuses.

If we lift the cap and tax Bill Gates and Warren Buffet at the same rate I pay, SS is solvent for 75 years.

I am soooo sick of the lying propaganda.

My dear fellow, by your lights then everything on Wall Street should be classified as a Ponzi Scheme. Social Security has been around for over 70 years and has worked quite well for everyone. It’s one of the great gifts that a well regulated capitalistic system has given to us along with Medicaire. I have no idea why you want to destroy these successful systems. The rest of the civlized world, despite the current financial problems has had a strong commitment to improving their public services which they maintain by slightly higher tax rates than we have. Most all of these countries have governments that people have some begrudging respect for. And most of these countries have a more equitable distribution of wealth. All you rightwingers want is to tear down what we have rather than trying to improve things. I think that most of you are suffering from some sort of psychosis. As Glenn Beck has put it, “empathy is a bad thing” and it’s a big part of where we’ve gone wrong – a hallmark of the rightwing Tea Partier types is their seeming lack of empathy for others and themselves. The corporate controlled rightwing is trying to bring down our government so they can install a strong authoritarian leader (Perry?!) and roll the clock back a hundred years to the time of the Robber Barons. This ain’t going to happen. 

Hey Mediaite:

Your clip and transcript of this episode appear to have been doctored!!!  Santelli sais “Your answer’s idiotic”  not “You’re idiotic”. 

Please check this and fix it!!!!.

“said”
typo — sorry 

I hope not. The current batch of actors on stage at last nights debate, gave a pathetic performance in the solution department.  No one of these people is really fir to govern. I like Ron Paul, but he is in the past.

Nothing is free.  Someone has to pay. We did with our jobs.

You don’t work hard by screwing other people.  Or you end up like Lazarus in Hell.

The evangelicals will never vote for Romney in the primary.  He is a Mormon and that is taboo.

He may be around longer than you.  Many seniors are in better shape than the current junk food fed youth.

Way to dismiss any criticism by claiming I was fed lines by George Soros. Murdoch must be proud.

You’re absolutely correct AJ.  I wish FOX Business Network would hire him.

The primary differences between Bernie Madoff’s scheme & Social Security are:
(1)  Madoff broke the law & is a criminal.  SS was made a “legal” ponzi when our Congress started robbing the trust fund for ‘general things’. Mostly unrelated social programs & undeclared wars.

(2)  Consider this:
If the Arkansas teachers retirement fund immediately stopped receiving any money from current teachers, the fund would have approximately enough to pay out ALL the pensions it currently owes.  Depending on mortality tables & interest rates, it might pay all pensions, fall a “little” short, or even have a surplus after the last teacher dies.

On the other hand:
If Social Security immediately stops receiving money from working Americans, my check & your parents checks would stop in about one (1) month.  Your parents and I would all be screwed.  And that, my friend, is a PONZI SCHEME.

IS SOCIAL SECURITY A PONZI SCHEME?

Consider this:If the Arkansas teachers retirement fund immediately stopped receiving any money from current teachers, the fund would have approximately enough to pay out ALL the pensions it currently owes. Depending on mortality tables & interest rates, it might pay all pensions, fall a “little” short, or even have a surplus after the last teacher dies.On the other hand:If Social Security immediately stops receiving money from working Americans, my check & your parents checks would stop in about one (1) month. Your parents and I would all be screwed. And that, my friend, is a PONZI SCHEME. 

Mediaite:

This is the second time I am posting this.  My first post was taken down.  Now I’m getting suspicious :)
 
I think your clip and transcript of this incident may have been doctored.  I was watching the incident live.  Santelli did not respond by saying “You’re idiotic.”  He said “Your answer’s idiotic.”

Please check this and fix it.  Otherwise it looks like you’re just fanning the flames inappropriately.

Speaking of the haughty New York Times, where is the insufferable Molly Dowd, anyway? Her last several columns have been depressed and angry; DSS should be looking after her well-being.

I don’t know how Friedman managed to keep his cool having to listen to this smug, self-aggrandizing jerk.

A”Ponzi Scheme” is a “Confidence Scam.”  Furthermore, I have used the phrase and heard other’s use the phrase, “Ponzi scheme,” as a metaphor. 

When talking about our Government in the last 60 years, calling such a “Ponzi scheme” is, I assert, a fine metaphor?  

Moreover, there armies of criminals, Lawyers and Politicos doing their very best to create, Ponzi schemes and/or crimes of fraud, that will withstand a criminal indictment.  As long as the activity is NOT illegal at the time, the “confidence man” can pounce and take advantage of the “loop hole.”

I have always maintained that the worst criminals are those who are born of privilege.  They come from a nice home, good family, good education, yet, choose to use those gifts to steal and scam rather than create, build, produce and give to society.  

The kid that knocks off the neighborhood liquor store will get 5-10 for armed robbery.
How much do the tapeworms that come from good families, who steal retirement accounts and pensions, or, misspend America’s wealth receive as a sentence for their crimes? (Furthermore, are they even crimes?)  ”Therein lies the rub.”

Purveyor

“I’m in my 70′s), more and more of us are in good health and have a lot of strength and energy to make ourselves heard”….
…thus the term “ponzi scheme” fits does it not?  

“haughty elite lib”?

Is that anything like “arrogant, knuckle-dragging conservative?

No, the ‘haughty elite Lib’ identifier is much more accurate and widely accepted.

But thanks for playing!

I love how blowhards like Santelli think that by yelling it somehow makes what they’re saying sound credible. It doesn’t.

Rick Santelli – i guess every network needs its foaming at the mouth wannabe pundit

Friedman is one of the more intelligent commentators on the planet. 

Anytime I tune into CNBC, Santelli seems to go off the rocker. Maybe because I paid into Social Security for 45 years and I don’t think it’s a Ponzi scheme. By the way, neither did Ronald Reagan. He worked on it with a Democratic Congress and fixed it. I believe people should be given a choice to opt out and put their money where they wish. But when the markets crash and you lose much of the value of the account, don’t come crawling back and expect food stamps, welfare, and medicaid and the government to bail you out. It can be sustained for generations to come, if the politicians have the political will to take it on. But, when the white house can’t even get the date of the speech right and we have do nothing congress, I wouldn’t count on Washington to work for the people. Obama should have been focused on jobs 2 years ago instead of health care. Republicans ran on jobs and defeating the health care bill. That’s why I voted for a repubulican. They have yet to bring forth a jobs bill. Both branches are accountable to the people.

Friedman was made to look like the fool he is.

Great job Rick. Friedman is so full of himself.

First of all, Wall St. is a ponzi scheme. What else do you a call a system where when there are gains, the bankers keep the profits and when their bets go sour, the tax payer bails them out, and then the federal reserve buys up all of their toxic assets.

Social Security a gift of the capitalistic system? You’re crazy. Capitalism is you are responsible for your own success and you’re responsible for your own failure. If you can’t save money for your own retirement, that’s not my problem. Capitalism is based on CAPITAL, which comes from savings. Right now we have an anti-capitalist system because savings earn no return. When I put money in my savings account I am giving a 0% loan to my bank which they can gamble with. And if there gamble fails, the tax payer rescues them. What better example of a ponzi do you need. 

Social Security has failed. The funds have been plundered and there’s a giant IOU that the government has used to fund it’s profligate spending. Since the government isn’t running a surplus and won’t be any time soon, when we are no longer able to debt finance social security will collapse. It is a fraudulent ticking time bomb.

We have Robber Barrons now and they’re the biggest supporters of this administration. 

He would be great on Fox Business. Would love seeing him on with Stossell and Judge Napolitano. 

If we lift the cap? So what you’re saying is at the current rate Social Security will end. I can keep my ponzi going IF you keep giving me more money.

I’m rubber your glue……you gotta be kidding this is what we’ve come to……

I’m no fan of Friedman — but here is why Santelli is an idiot.

Want to save Social Security?  Just remove the cap on the payroll tax and make the millionaires pay on every dollar they earn — just like the guy, who makes $40,000 a year pays on every dollar he earns. 

No Ponzi scheme — just simple fairness and equity.

Friedman is an idiot

The rich man was in hades, Lazarus was in Abrahams’ bosom you’ve got it backwards…

Perry is a lair and a hack. He is just saying whatever it takes to win the GOP primary, just like he did as governor. As soon as he enters the general election he always changes his words.

Perry was Al Gore’s democratic campaign chairman in Texas, when he left the dems for the GOP he said: “I will still vote the same principles, only with an R after my name.”He says things like being tough on the border in the primaries, but after he won the gubernatorial election last time he OPPOSED Arizona’s law and even passed a law giving illegal aliens in Texas the top tuition rates (better than US citizens from out of state get!!). He is a professional con man of the highest skill.

Evidently your an embicel…. Santelli’s argument… is SS a sytem that requires new money to continue the perpetual source of income from new depositors…. Forget the legality,  the system is the same premise… if you or I created any entity that did that it would be a ponzi scheme, correct?  Just because the government has the authority to do it doesn’t mean it is right… You’re a bigger idiot than you sound if you believe SS is solvent.  The gov’t has replaced the money that was in the account with treasuries which is how Bill Clinton gave the impression the budget was balanced, look it up idiot.

Thank you

Actually Santelli works for CNBC as a reporter, reporting on the Comex and debt instruments.  So the items he reports on effects the “little guy” far more than big fish. 

He didn’t want to prop the people who couldn’t pay their mortgages because THEY COULDN’T PAY THEIR MORTGAGE… HELLO.

Also he wanted the bigs to FAIL….  The whole problem right now is failure is not allowing to happen hence prices are distorted, debt is distorted, leverage is distorted and growth is a fallacy.   Perpetual growth is not plausible due to the law of exponets will meet reality…. limits x->0.  Recession allow for the correction to occur its part of the cycle. 

The corruption within the system of the elite is going to bring down the entire system because it will eliminate the key factor and that is TRUST.  Every day the markets are stating this fortunately it has not been broken completely yet but whe it is all gone… liquidity will completely dry up and force a deeper depression.