In the late 70’s and early 80’s there was an interesting investment gambit taking place occasionally. It was a pyramid. You showed up to a festive meeting and were encouraged to bring friends and family along. You plunked down, say, two hundred dollars and bought yourself a block at the bottom of the pyramid. Your investment was paid out on the spot to people above you on the pyramid. The person at the top would “cash out” handsomely and was expected to buy in again at the bottom. It almost seemed like the pyramid could perpetuate itself.
It all sounded wonderful, but what actually would happen is momentum would dry up fast and the bottom row of block holders would never see a return on their investment. The meetings would have fewer and fewer new faces and those faces were hesitant to invest. They could feel the desperation.
I participated in one. The second meeting I attended I brought a couple of my softball teammates and they bought in. I got my two hundred back and next week hopefully my buddies would, too, and I’d get even more. But next week was a dud. Momentum had dried up fast and no new investors showed. My friends were out two hundred dollars if no new investors bought in. The meeting host implored us to bring more friends and keep it going. Yet we knew we would be asking our friends to pay for our poor investment. I told our host that and it led to an ugly exchange. The greed was sickening.
I have no idea of how many of these pyramids took place and wonder how many other people came away feeling as slimy as I did. Maybe they never knew the people at the bottom who were left holding the bag and don’t care. Well, I knew a couple. They were my friends and though they told me to forget about it I still felt like a skunk. I was in my early twenties at the time and two hundred dollars meant a lot. Post-game beers were on me for a long time.
I see a similar dynamic with the whole Covid panic theater and vaccine push. Clearly, the momentum is drying up. Our hosts are excoriating us to get vaccinated and take boosters and maybe even wear masks and prepare to be locked down again. They want a vaccine registry so they can attack the unvaccinated. They keep stirring up new variants and boosters and hype but it is not working. Those who were going to buy in have bought in. New “investors” are seeing the terrible return on investment and simply aren’t buying what the hypesters are selling. They smell a skunk.
By Steven Sorg
Steven Sorg is a longtime friend of The Blue State Conservative, and we are happy to add his input to the broader discussion on this issue.
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