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Re: Dems Target Private Retirement Accounts 

By: ribit in FFFT | Recommend this post (1)
Thu, 07 Nov 13 7:28 AM | 50 view(s)
Boardmark this board | Food For Further Thought 		Msg. 57499 of 65535
(This msg. is a reply to 57498 by oldCADuser)
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Which is exactly how every single insurance company in the world works today and has always worked.

...no it isn't. You should know that, but then maybe you do.




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Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!

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The above is a reply to the following message:
Re: Dems Target Private Retirement Accounts
By: oldCADuser in FFFT
Thu, 07 Nov 13 6:36 AM 		Msg. 57498 of 65535

"Ponzi schemes work by taking dollars from current investors . . . to pay off previous investors. If enough new investors do not pony up the dollars, the scam collapses."

Which is exactly how every single insurance company in the world works today and has always worked. Exactly where do you think they get the money when they have to pay off on their policies? For example, where do you think these companies got the money to pay off the policies for the people who happened to die the during the first year that the company was open for business? Or do you think that they are not going to pay out a single dime until they've accumulated enough money in the bank to pay off every single outstanding policy?

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