The President Is a Ponzi Scheme

John Feffer writes for Foreign Policy In Focus:

trump-ponzi-scheme-corruption[…] Caritas was a pyramid scam. The first investors received the promised return, but they were paid out of the receipts of the next round of investors. Ultimately, one in five households in Romania were invested in the scam. But like all pyramid scams — also known as Ponzi schemes — Caritas eventually collapsed, with nearly half a billion dollars in debt. This economic catastrophe fell hardest on the people with the least amount of money and the most desperate hopes of advancement.

The other insidious part of the story is that quite a few people invested in Caritas knowing that it was a fraud. But they calculated that they could get in and out before the pyramid disintegrated.

It is often said that Donald Trump is a confidence artist, a snake-oil salesman, a fraudster. The truth is much more disturbing. The U.S. president is a Ponzi scheme unto himself. He has gotten many hardworking people to invest their hopes and dreams in him.

It is often said that Donald Trump is a confidence artist, a snake-oil salesman, a fraudster. The truth is much more disturbing. The U.S. president is a Ponzi scheme unto himself. He has gotten many hardworking people to invest their hopes and dreams in him.

But he has also attracted the support of the more calculating kind, those who smell an easy profit. These Trump supporters know that he is a scam (and will admit so at unguarded moments). But that hasn’t stopped them from getting in on the action, as quickly as possible, before the Trumpian pyramid begins to crumble.

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