weirdbeardgame@lemmy.world to News@lemmy.world · 3 days agoInsurance 'nightmare' unfolds for Florida homeowners after back-to-back hurricaneswww.nbcnews.comexternal-linkmessage-square102fedilinkarrow-up1461arrow-down14
arrow-up1457arrow-down1external-linkInsurance 'nightmare' unfolds for Florida homeowners after back-to-back hurricaneswww.nbcnews.comweirdbeardgame@lemmy.world to News@lemmy.world · 3 days agomessage-square102fedilink
minus-squareScipitie@lemmy.dbzer0.comlinkfedilinkarrow-up30·3 days agoBecause a Ponzi scheme revolves around paying past people with fresh money without using it as promised at all. Insurances (when fraudulent) collect money but don’t pay out anyone unless forced by lawsuits. Ponzi schemes are s vers specific financial tactic. See https://en.m.wikipedia.org/wiki/Ponzi_scheme
minus-squarekata1yst@sh.itjust.workslinkfedilinkarrow-up7arrow-down19·3 days agoI guess I see enough parallels to call it “close enough”, but I guess that’s a matter of perspective.
minus-squareorcrist@lemm.eelinkfedilinkarrow-up2·2 days agoIt’s not a matter of perspective. You used the wrong term. No big deal, we’ve all done it, and now you know.
minus-squaresolsangraal@lemmy.ziplinkfedilinkEnglisharrow-up11arrow-down1·3 days agomeanwhile the people taking your money and giving you nothing in return are laughing at the fact that people are spending time debating “what kind of scam” it is
Because a Ponzi scheme revolves around paying past people with fresh money without using it as promised at all.
Insurances (when fraudulent) collect money but don’t pay out anyone unless forced by lawsuits. Ponzi schemes are s vers specific financial tactic.
See https://en.m.wikipedia.org/wiki/Ponzi_scheme
I guess I see enough parallels to call it “close enough”, but I guess that’s a matter of perspective.
It’s not a matter of perspective. You used the wrong term. No big deal, we’ve all done it, and now you know.
meanwhile the people taking your money and giving you nothing in return are laughing at the fact that people are spending time debating “what kind of scam” it is