Among the few things I genuinely detest in this world, one of them is biased news and the other is Jim Cramer. MSNBC has recent coverage about Jim's comments that social security is a ponzi scheme. (MSNBC)
Jim Cramer has called Social Security the largest Ponzi scheme in history. To an extent, he's making a valid comparison. Like a Ponzi scheme, Social Security pays its benefits out of new contributions, rather than out of investment returns.
I'd hate to agree with Jim, but he's right.
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