This happens in any pension system you design. If you invest your retirement savings in stocks, you're not magically wealthy: you're just finding another mechan

This happens in any pension system you design. If you invest your retirement savings in stocks, you're not magically wealthy: you're just finding another mechanism to have younger workers pay for older retirees. And if the stocks you buy are heavily invested in foreign countries with authoritarian governments and low birth rates, you're trading one problem for different ones.