The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: ajtj99 who wrote (254159)	6/15/2010 6:08:36 AM
From: DebtBomb	Read Replies (1) of 306849

It's bankrupt because it's a ponzi scheme. First one out wins! The first monthly payment was issued on January 31, 1940 to Ida May Fuller of Ludlow, Vermont. In 1937, 1938 and 1939 she paid a total of $24.75 into the Social Security System. Her first check was for $22.54. After her second check, Fuller already had received more than she contributed over the three-year period. She lived to be 100 and collected a total of $22,888.92 It can keep on working as long as there's more new investors continually contributing than those receiving benefits. Since we went from about 3 million births per year in 1957 to only about one million new births in 1973....it's a busted ponzi scheme with more money going out than coming in. You are right that life expectancy has increased about 20 years....but people are working longer also....into their 70's and paying more money into social security. These funds have also been raided by the gov't.. No matter how you look at is....it is @#$%ed.

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