Ponzi schemes employ a robbing Peter to pay Paul strategy to enrich the schemes operator. Charles Ponzi didn't invent the ponzi scheme but his was sufficiently wide spread that it gained enough notoriety to be branded with his name. By today's standards it is fairly small time as these ten examples illustrate.
Patrick believes that the behavior of self made millionaires can serve as role models for our own behavior. To that end he draws highlights from Thomas Corley's book "Rich People", providing 13 behavior trends he thinks are most significant.
Despite conspiracy theories about Gamestop stock trading in January 2021 the Security and Exchange Commission report finds nothing particularly out of the ordinary. Short selling of GameStop had been occurring for several years and the was no evidence of illegal naked shorting. The subsequent stock rise was due to long term investors rather than hedge funds.
Debt limits were placed on government spending a hundred years ago though Congress can increase them with a simple majority vote. Yet Congress has treated the constraints seriously needing a vote almost annually which sometimes involved fierce debate.