this post was submitted on 29 Jul 2023
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Showerthoughts
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A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. The most popular seem to be lighthearted, clever little truths, hidden in daily life.
Here are some examples to inspire your own showerthoughts: 1
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True, because it's also a giant Ponzi scheme. We pick up new debt today to pay off debt from yesterday, and we hope expanding GDP and inflation will always offset the difference.
Is there a difference between a pyramid and a ponzi scheme?
It's used so interchangeably these days that I'm inclined to say no, but an oversimplication is that a ponzi scheme is always illegal and is more detailed in its mechanics (as named after conman Charles Ponzi). Wheras a pyramid scheme (or more commonly known: MLM) can actually be legal depending on how it's constructed.
A ponzi scheme involves a conman who scams his customers by taking massive profits from their investors and requires a constant stream of new investors to pay off the old ones. This is fraud.
A pyramid scheme usually involves some type of product and pays huge bonuses to the recruiters at the top for bringing in more people below them from the investment of new people below them. This is taxing uneducated people but can be legal.
TLDR: capitalism is more akin to a pyramid scheme and not at all like a ponzi scheme.
Yes, but most people using the term don't know their defitition, so knowing the correct definition is of limited usefulness.
Ponzi is for Investments that offer high returns, by marking the principal as gains. Pyramid schemes sell stuff, through a pyramid of salesmen. Each one earns a percentage of the revenue of his underlings and is encouraged to recruit more underlings.
That's a good question. Amway is perhaps the architype pyramid scheme. They actually do sell products, but primarily to the marks they con into being 'amway agents' or whatever they call them. The marks, in addition to buying the shit, also kick back part of the proceeds from any sales up the ladder. A ponzi scheme doesn't actually do anything with the marks investment money other than use it to pay off the people in on the con.
Like social security?
You're not forced to take on that debt though, nor is the debt unpayable unless you take on more debt. Some people put themselves into a ponzi-like situation either through poor financial decision making or circumstances so shit that they can't do any better, but the average person doesn't need to take out a loan on a freaking pair of nikes or even a car or house. It's a cultural norm to get a mortgage, but if you do the math it often doesn't make sense to and isn't anywhere close to mandatory. At most you could argue that the US government debt works that way, but even that's iffy and depends on your geopolitical outlook.
Exactly. I'm thinking of dying for a few years so I can save up enough to get on the property ladder. Just waiting for a decent grave to come up on the outskirts of town where the rents aren't too high.