Daily Archives: September 7, 2011

Perry’s Ponzi—A definition is in order

Charles Ponzi

Image via Wikipedia

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

A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors. The Ponzi scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors to keep the scheme going.

The system is destined to collapse because the earnings, if any, are less than the payments to investors. Usually, the scheme is interrupted by legal authorities before it collapses because a Ponzi scheme is suspected or because the promoter is selling unregistered securities. As more investors become involved, the likelihood of the scheme coming to the attention of authorities increases.

The scheme is named after Charles Ponzi[1] who became notorious for using the technique in early 1920.[2] Ponzi did not invent the scheme (for example Charles Dickens’s 1857 novel Little Dorrit described such a scheme decades before Ponzi was born),[3] but his operation took in so much money that it was the first to become known throughout the United States. Ponzi’s original scheme was based on the arbitrage of international reply coupons for postage stamps; however, he soon diverted investors’ money to support payments to earlier investors and himself.

According to wikipedia Perry’s word choice might just be spot on, especially if we look at that first sentence: “not from any actual profit earned by the organization, but from their own money paid by subsequent investors.”  Bingo, touche, I think he was right.  I think I said as much in one of my political ramblings.  So what’s a politico to do? Embrace your inner political child and defend it.

Republican candidates debate 2012—Perry did not back down

Republican Party (United States)

Image via Wikipedia

We saw a number of political wheels take the stage at the RR library in Simi Valley.  What a beautiful setting.  I need to visit there next time I go to California.  Tonight with a ring side seat I watched some good debating tonight.  Romney and Perry were the stars but Newt Gingrich said some solid things and brought the nosegay to the party by wrapping up the GOP philosophy nicely.

Gov. Perry fed red meat to this base according to Rev. Al Sharpton tonight.  But if the GOP believe in NO minimum wage in the USA then the low wages that are part of the Texas economy are par for the course and that should not be the focus.  The focus should be the jobs created in Texas.  I’ve seen lots of businesses close down and others pop up like toast in their place.  Most jobs are service sector jobs.

What about education here?  We are educating everybody and every level here.  No other country in the world does that especially the first world governments.   They know better.

Considering Perry was the front-runner he did not perform according to his polls according to the pundits after the election.  Romney did a damn good job really.  He was surprising.  I predicted he would be one of the top-tier contenders and showed himself to be the biggest political wheel tonight.

But considering Perry was out for the first time I think he held his own.  That’s okay for starters but he has to bring it.  I think he needs to stronger defend the jobs created and focus on that and NOT on the wages because high wages obviously are job killers as the minimum wage which goes along with their philosophy.  So my advice to Perry emphasize the positive and defend it and ignore the negative things that are not working for your arguments. 

Probably the best team would be Perry and Romney or Romney and Perry.  Huntsman is so handsome but I don’t think he will get the nod.  Who will get the nod? When the time gets closer I might write more about it .

Andrea Mitchell Got Cancer

http://www.huffingtonpost.com/2011/09/07/andrea-mitchell-cancer-nb_n_952487.html

Race for the cure Andrea because Jewish women are more likely to get breast CA than any other group of women.

NBC’s Andrea Mitchell announced on air Wednesday that she has breast cancer.

Mitchell, who has been with NBC for decades and serves as its chief foreign affairs correspondent and host of “Andrea Mitchell Reports” on MNSBC, made the announcement at the end of her show. She is 64 years old.

“I had planned to be hiking in Wyoming last week but instead discovered that I am now among the one in eight women — incredibly, one in eight — who’ve had breast cancer,” she said. “Mine was discovered during my annual screening just a short time ago. Lucky for me, I’m one of the fortunate ones. We discovered it in the earliest stage, it has not spread, and I’m already back at work with a terrific prognosis.”

Mitchell said that breast cancer awareness and prevention has always been important to her.

“I’m looking at this as another of life’s lessons,” she said. “For you women out there and for the men who love you, screening matters. Do it.”

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