Government is not a business:Elon Musk calling Social Security "the biggest Ponzi scheme of all time" in his interview with Joe Rogan but not being able to explain why is appalling.
— Art Candee 🍿🥤 (@ArtCandee) March 2, 2025
The richest man in the world is gunning for poorer people's money. pic.twitter.com/l2JWj9UpdB
A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.[1] Named after Italian businessman Charles Ponzi, this type of scheme misleads investors by either falsely suggesting that profits are derived from legitimate business activities (whereas the business activities are non-existent), or by exaggerating the extent and profitability of the legitimate business activities, leveraging new investments to fabricate or supplement these profits. A Ponzi scheme can maintain the illusion of a sustainable business as long as investors continue to contribute new funds, and as long as most of the investors do not demand full repayment or lose faith in the non-existent assets they are purported to own.Government is the ultimate business backstop, the legal foundation that makes business possible by enforcing the law that makes fraud illegal (and offers to buy businesses enforceable).
Elmo doesn’t understand this elementary principle. So of course he can’t explain how Social Security is a Ponzi scheme. His business model is fraud.
Elmo is clearly a reliable source of both business and government information.Tesla stock is tanking and so are his sales but Elon Musk says he thinks the company will see 1000% gains in the next 5 years.
— Art Candee 🍿🥤 (@ArtCandee) March 2, 2025
Mkay.
🙄 pic.twitter.com/EvKG0rpF8D
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