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Several economist have called what the states are have been doing with pensions the biggest ponzi of all times. Since I was little I've been repeatedly told (by
by TacticalCoder 2y ago
Several economist have called what the states are have been doing with pensions the biggest ponzi of all times. Since I was little I've been repeatedly told (by propagandist schools/newspapers/etc.) that the mandatory taxation was to pay for my future pension. Everybody has been sold that lie.
But now that birth rates are falling it's exposed that that pension scheme built on eternal population growth was just that: a ponzi. But on a whole other level than the usual ponzis.
And because the various EU states (and not just EU) have been hiding fake GDP growth behind ever more state debt (money that mostly went into bullshit job producing absolutely nothing whatsoever besides more bureaucracy), they've got no room for maneuver.
When you begin to see articles like that left and right, you know that the ponzi is going to implode.
And who was right? Those who were calling it in a ponzi decades ago or those politicians (very often very bad at even basic maths btw) who promised that your taxes would help, among other, secure you a pension?
- ggm 2y agoThat's an awful lot of instances of the word ponzi in one piece. You'd almost think you have a theory about the unsustainability of pension schemes based on numbers of future subscribers and workers. Anyway, worth bearing in mind state debt is really not segementable. There are remarkably few truly hypothicated taxes and while people talk as if pensions are paid for by contributions from workers it's a bit of a mis-truth. It helps define levels and its useful saving, and its mandatory. The actual cost of pensions is consolidated debt, ignoring the private superannuation investment model, which runs alongside. Don't worry, most economies wind up replacing the birth deficit with immigration.