Friday, March 6, 2009

This is Not a Pyramid Scheme

First things first: This is NOT a pyramid scheme. This guy is totally legit, just sign up and in a few weeks you could be earning some serious.....



....wait, nope. Actually this is a pyramid scheme, this is more of a pyramid scheme than the actual pyramids.

Let's be clear about something: I know that money is tough to come by in the US right now, but really its not just the bank's fault, it's not the government's fault completely either. The level of national debt has been catching up to the US's GDP dramatically in the last 20 years. This means the biggest part of the problem is the consumers as well- people are living beyond their means.

To quote:
"From 2000 to 2008 it (individual debt) just goes, like a hockey stick, it goes dramatically upward....it hits 100% GDP. That is to say, consumers currently OWN 13 trillion dollars when the GDP is 13 trillion. That's 100 trillion OWED by individuals. That's a ton." - David Beim

He goes on to say the only other time this happened was in 1929.

More can be heard here.