Friday 26th of April 2024

washington ponzi

washington ponzi

it is a ponzi scheme...

'Before people talked of climate change I said, "I can't believe that we're not completely wrecking the world,"' says Smith. 'Because as I flew, most of the time it was in smog or smoke, the amount of clearing that was going on, the huge cities, you could just see five billion people were damaging the earth tremendously.'

While Smith's concern with overpopulation is well known following his 2010 ABC documentary Dick Smith's Population Puzzle, he does not regard it as a standalone issue. The founder of Dick Smith Electronics links the population problem to economic growth, which he says requires an ever-increasing population. The result is a juggernaut of junk that fills shopping malls with mountains of unnecessary, heavily packaged items and keeps ever greater numbers of people employed.

'In fact, our present economic system is a type of Ponzi scheme, which are illegal in this country,' says Smith.  'We haven't put enough aside for our pensions, so we need a huge influx of migrants to pay taxes. The problem is that when those migrants get older you'll need even more people. It's the classic non-sustainable Ponzi scheme.'

read more: http://www.abc.net.au/radionational/programs/spiritofthings/dick-smith-on-balance/7143668

 

Of course Capitalism is a Ponzi Scheme. We've been harping about this unsustainable concept for a while.  see toon above...