LeoliansBro wrote:It might well have been this fella, I'm pretty sure he mentioned Ponzi himself.
Pension schemes are unsustainable worldwide. Someone described them as the ultimate Ponzi scheme hidden by a convenient fiction we are all party to. And I can't really fault that :/
"LK: They’re intentionally hiding this. They’ve been spending in our country six decades, running a massive Ponzi scheme, taking from young people, giving to old people, and then telling the young people, “Don’t worry, you’ll get yours when you’re old,” promising pensions, promising healthcare benefits. And you know this is happening in all countries. Russia has a pension system, but it doesn’t seem to be in better shape than ours in terms of paying for its benefits in the future."
There has been debate here in the UK recently about how unsustainable the pension scheme is. Partly the problem seemed to be related to government bonds but ultimately the problem to me seems to come down to a large elderly populace that is going to be producing little for the economy but taking much of the money, if not through pensions then through the NHS.
In many ways it's hard to argue that if NI has been paid for the entirety of ones working life then a state pension is to be expected but then it's going to become unrealistic. Hard to know what the solution is to this problem.
They should never have pushed everyone to give up cigarettes, the problem would have resolved itself