A World Without Retirement
April 2nd, 2017Via: Guardian:
We are entering the age of no retirement. The journey into that chilling reality is not a long one: the first generation who will experience it are now in their 40s and 50s. They grew up assuming they could expect the kind of retirement their parents enjoyed – stopping work in their mid-60s on a generous income, with time and good health enough to fulfil long-held dreams. For them, it may already be too late to make the changes necessary to retire at all.
In 2010, British women got their state pension at 60 and men got theirs at 65. By October 2020, both sexes will have to wait until they are 66. By 2028, the age will rise again, to 67. And the creep will continue. By the early 2060s, people will still be working in their 70s, but according to research, we will all need to keep working into our 80s if we want to enjoy the same standard of retirement as our parents.
Give it a sec to load:
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/08-2/Inflation%20800%20years.jpg
Unbacked paper fiat sure does the trick. The fed will print until it crashes, and then they’ll print some more.
“Permit me to issue and control the money of a nation, and I care not who makes its laws!”
Mayer Amschel Bauer Rothschild
Indexed pensions make pension funds seek to extract the most out of investment markets, pushing wages down. This pitting of generations against each other may come to an end when old people play video games and are paid in mana.