Boomers lived it up on deficits they expected someone else to pay. Their pensions are bankrupting the nation. Many more retired on the gains their houses made under mass immigration, but the effect of this was future generations have to pay 40x as much for a house when starting out. Every one of boomers’ gains has been at the expense of future generations.
The math shows otherwise- if their pension funds and social security funds had not been plundered, if the petro/fiat dollar hadn't been artificially devalued, they would have plenty of their own money to live off of.
The pensions and social security funds were plundered by boomer retirees expecting to live it up for 20+ years without having to work. The generation that came before never had such a thing, no one did. Living within their means is boomer kryptonite.
The devaluation of the dollar was caused by money printing, which was demanded by boomers and their incessant need to spend more than they have.
I don't know how it works in other countries but I paid into the UK government pension scheme for 43 years and into my own private pension fund for at least twenty years. That money was invested (I had no say in it) and, assuming that it was invested wisely, should pay me minimum wage until I'm 100. In other words, the government and the private pension company are paying me back the capital that I lent them plus interest, which obviously should be less than the profits they made by investing my money. If they invested unwisely, and/or allowed someone to steal part of my capital, that's not my fault.
If your country is like mine, the pension funds have been making promises they can't keep for decades, and the solution they found to keep the ponzi scheme going was mass immigration (i.e., more people paying in so they can keep meeting their obligations for a few more years).
Programming? Lol, are you under the impression that when this is all over, we can just keep right on racking up unrepayable deficits and leaving them for subsequent generations to pay?
Obviously not. Doing so is a nation-wrecking mistake. Oh, btw, it's also exactly what the boomers did.
Boomers lived it up on deficits they expected someone else to pay. Their pensions are bankrupting the nation. Many more retired on the gains their houses made under mass immigration, but the effect of this was future generations have to pay 40x as much for a house when starting out. Every one of boomers’ gains has been at the expense of future generations.
The math shows otherwise- if their pension funds and social security funds had not been plundered, if the petro/fiat dollar hadn't been artificially devalued, they would have plenty of their own money to live off of.
The pensions and social security funds were plundered by boomer retirees expecting to live it up for 20+ years without having to work. The generation that came before never had such a thing, no one did. Living within their means is boomer kryptonite.
The devaluation of the dollar was caused by money printing, which was demanded by boomers and their incessant need to spend more than they have.
I don't know how it works in other countries but I paid into the UK government pension scheme for 43 years and into my own private pension fund for at least twenty years. That money was invested (I had no say in it) and, assuming that it was invested wisely, should pay me minimum wage until I'm 100. In other words, the government and the private pension company are paying me back the capital that I lent them plus interest, which obviously should be less than the profits they made by investing my money. If they invested unwisely, and/or allowed someone to steal part of my capital, that's not my fault.
If your country is like mine, the pension funds have been making promises they can't keep for decades, and the solution they found to keep the ponzi scheme going was mass immigration (i.e., more people paying in so they can keep meeting their obligations for a few more years).
Wow that's a lot of programming to unpack. Good luck with that.
Programming? Lol, are you under the impression that when this is all over, we can just keep right on racking up unrepayable deficits and leaving them for subsequent generations to pay?
Obviously not. Doing so is a nation-wrecking mistake. Oh, btw, it's also exactly what the boomers did.