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World Economic Forum estimates retirement shortfalls in public pension/private pension/individual savings in 2015 at 70 trillion$, and projects nearly half a qu
by 1001101 9y ago
World Economic Forum estimates retirement shortfalls in public pension/private pension/individual savings in 2015 at 70 trillion$, and projects nearly half a quadrillion (400 tril) shortfall in 2050, with the lion's share belonging to the US. [1, page 7] Interest rates stuck at the 0 bound (and negative real) for nearly a decade haven't helped. I foresee a bumpy ride figuring out who gets stuck with the bill.
[1] http://www3.weforum.org/docs/WEF_White_Paper_We_Will_Live_to_100.pdf http://www3.weforum.org/docs/WEF_White_Paper_We_Will_Live_to... [PDF]
- ec109685 9y agoWhy will the world be so much worse off at 400 trillion instead of 70 trillion? Presumably “the world” will have many many more folks making more money by then given the rates of economic growth in third world countries. 10B people can cover 400T in 10 years paying just $10 a day.
- mattmanser 9y agoWestern world has stopped having as many children, hence why governmemts are dead keen on immigration even though their constituents aren't.
- pjkundert 9y agoHowever, immigrants are not “fungible” (as much as central planners wish they were). In fact, it’s becoming evident that certain immigrants may be a liability, and even displace potential immigrants who are valuable. This will be addressed as the facts unfold themselves, I suspect.
- urbanjunkie 9y agoWhy are dogs barking? Perhaps they hear a whistle...
- en4bz 9y agoThis paper seems to assume life expectancy will increase indefinitely but this doesn't seem like it will happen due to the fact roughly 2/3 of people are overweight or obese.