To the editor:
A Ponzi scheme is an investment scam that initially delivers high returns by paying out a significant portion of the new money contributed by an ever increasing number of misguided investors.
When the mastermind of the scam can no longer attract enough new money, the financial house of cards comes crashing down.
The conman’s victims are left with nothing but shattered dreams and broken hearts.
Most British Columbians think it can’t happen to them. Well, maybe it already has. There’s an NDP premier in Victoria who promised voters an amazing future based on spending more taxpayer money.
The budget tabled on Monday, a re-jigged version of the one crafted by the Liberals, does not address two of the NDP’s most expensive promises, $10 per day daycare and a $400 rebate for renters.
Writing those whopping big cheques, along with many others, has been delayed but not forgotten.
John Horgan’s plan has all the hallmarks of a Ponzi scheme. Don’t be surprised if the Office of this B.C. Premier becomes known as John’s Ponzi Shop.
Lloyd Atkins
Vernon