Tuesday, August 23, 2016

The Indebted Western World 
Is Meeting Its Retirement System Obligations
In Several Ways:
- instituting means testing: if you have some savings, you will lose your entitlements
- devaluing the currency: you will get paid, but in devalued currency units so that you can not buy much with your benefits
- raising the retirement age - which is what the Germans are proposing now
After encouraging its citizens to stockpile food & water for 10 days in case of emergencies, the German government is now demanding people to work until age 69, & Germans are furious ..  "As Germans live longer and lower birth rates mean fewer workers are available to replace retirees, the Bundesbank says people will need to work longer in order to meet pension demands."
LINK HERE to the article

No comments: