2 ms·
We don't really have pensions in the US (anymore). There is a meme of baby boomers cashing out of Social Security and leaving it unreplenished for future genera
by saagarjha 2y ago
We don't really have pensions in the US (anymore). There is a meme of baby boomers cashing out of Social Security and leaving it unreplenished for future generations. I don't think "let's kill off the older people" is a common viewpoint but "the old people vote against our interests and I am waiting for them to die" is.
- paganel 2y agoArtificially keeping the stock exchange up (and inflated), no matter the consequences, is a form of State-sponsored pension, even though technically it is all private money. Somebody should write a study to show the correlation between the pension funds getting bigger and bigger and the number of companies getting in/out of the the S&P500 or Dow Jones getting lower and lower over time. That second number getting lower and lower means less innovation, means less real wealth going into the future, means less real money for people who are now in their 30s and 40s. I’d say that many of the NIMBY policies also respect that premise, i.e. government-supported decisions that help keep the wealth among the elderly by (artificially) keeping the existing home prices up (and it is known that those houses are some of the most important assets that said elderly people own).