Word: ponzis
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Dates: during 2000-2009
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...what accounts for all the gloom surrounding the web? Bad business - not bad ideas. Analysts and venture capitalists and investment bankers all collaborated in a massive ponzi scheme - which left regular investors holding the bag. Don't blame the cocky web entrepreneur for squandering your money; blame your investment banker...
...Somewhere in the middle of the boom, though, Wall Street figured out that analysts weren't journalists. Wall Street was in the business of making money, purely and simply, and this was a herd-driven, Ponzi-scheme kind of time, in which all prophesies were self-fulfilling...
Myth number three: The New Economy was all a sham, a Ponzi scheme designed to dupe the average American. This myth is a little bit more complex. Some pundits, so naive they should never have been given a bully pulpit, have pointed to the recent slowdown as proof that the New Economy was a ruse. They point to the equally naive proponents of all the New Economy hype who promised an end to the business cycle, growth and prosperity forever and a stock market that never went down...
...than the expected medical advances. There are today 3.4 wage-earning (and Social Security-contributing) American workers for every person over 65. In 2030 there will be only two workers for each of the elderly (which is why economist Hokenson, of DLJ, calls Social Security "the mother of all Ponzi schemes"). Those two are either going to have to work a lot harder to support all the old folks, or we will see a spectacle of misery unprecedented in the world's wealthiest nation. Two irrefutable facts, the size of the boomer generation and the tendency of the elderly...
...downtown New York City loft. Contrary to his pledge, Giacchetto began gambling on risky ventures, and a number of stars grew concerned over poorly organized or absent financial statements. According to a federal indictment, Giacchetto was drawing unauthorized checks from his clients' accounts to cover his expenses. In a Ponzi-like scheme, he would also allegedly loot the account of one customer to pay off another. Though he did reimburse some clients, others are out a bundle--and Giacchetto, who is free on a $1 million bond, may never eat lunch in any town again...