The “human Ponzi scheme” line lands on ordinary Americans
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52% of mutual fund assets are now invested in index or index-based funds, and over 50% of American households are invested in mutual funds.
The “human Ponzi scheme” line lands on ordinary Americans
The fact pack says the “immense human Ponzi scheme that is Elon Musk will eventually collapse,” and that much of the money propping it up will come from ordinary Americans who have “in effect been forced to buy in.” It also says “Thanks to the collusion between Musk and Wall Street,” many small investors will be dragged into fueling the “Musk juggernaut,” while Musk’s projects and companies have received an estimated $38 billion in government contracts, loans, and related funding.
Gobble's Take: If a scheme can reach people through mutual funds, retirement accounts, and government contracts, it stops being niche and starts being everybody’s problem.
Source: Comments - Elon Musk, Human Ponzi Scheme
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