> declining birthrates also hurt private markets, which rely on a growing workforce just as public pensions do. Right, it's well known that the US' demographic

> declining birthrates also hurt private markets, which rely on a growing workforce just as public pensions do. Right, it's well known that the US' demographics are the foundation for its strong economy, not advancements in productivity and technology. /s > if there is no growth also the financial markets won't grow. Financial markets don't need to grow for your investments to pay off. Investing into growth stocks is very popular now a days but value stocks (which might not grow at all but have profitable operations) and fixed income are perfectly good options too. > if we dismiss public pensions as a ponzi scheme, then by the same logic, private plans—completely at the mercy of market swings Some of them can be, the difference is that public pensions are a Ponzi scheme I'm legally forced to contribute to and have little say in. Not so for private plans.