Pensions

Good. With falling birth rates, pensions are a failed pyramid scheme.

The real red pill is to act like a Boomer. They have the money and wealth so use their tactics to get money and wealth.

Dont worry, I have a plan,
I plan to kill my self after all the relatives that might care die off,

Maybe it Argentina it will. Maybe you should model after Chile and privatize your state pension programs.

Anybody with a half-way decent profession and more than two brain cells to rub together can invest enough to retire after 40-50 years of working. Less if you live very frugally or don't have kids.

Robotic labor will be taxed and everybody will get a living wage and not have to work within 20 years

Maybe because you pay contributions to it. Meaning you're getting robbed.

You are retarded if you think humans dont need suffering, we will create it if it is lacking

there might be a translation issue here?
Pension in America is a privite thing and most people dont have one anymore. You might be thinking of social security

Lucky you then.

Statements like "Social Security is going to go bankrupt!" are utter bullshit designed by assholes like to make idiots like and think austerity is inevitable and when things go to shit It's Just How It Is and There Is Not Enough To Go Around.
Over the last few decades, global effective tax rate have been plummeting, especially on high-income/high-wealth individuals and corporations. Government social programs are in the red because governments choose to keep them there. Had government revenue been kept up at their pre-1980's levels, these manufactured panics wouldn't not be happening.

It goes even deeper, though: The fact is, with a fiat currency system, there is literally no real reason why the government can't just keep spending more than it takes in through taxation. Like, literally no reason. The only drawback to government deficits is that under the current system these deficits must be taken out as loans to the private sectors, and they function and upwardly-redistributive mechanisms. This can easily be fixed by implementing a different system of deficit creation (e.g. socializing the central bank), or if taxes on bondholders are raised enough to offset interest payments.

>m-muh inflation!
1.) As long as government expenditure (+ private bank money creation) is kept within the bounds of real GDP growth, there is absolutely no reason why prices should rise.
2.) Most countries around the world right now deal, if anything, with a deflation crisis. Central banks consistently undershoot their own inflation targets (which are too low begin with).
3.) What's so bad about inflation, anyway? Of course hyperinflation is pretty terrible, but when kept under ~10%, inflation functions as a fairly effective downward redistributive mechanism. High levels of inflation encourage high levels of employment. The only people who stand to lose from inflation are the already wealthy. Coincidentally, they are also the ones most vocal about it.

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Of course a bunch of jobless faggots will create suffering but that has nothing to do with what I posted retard

I don't need suffering.
I don't know anyone else who might need suffering.

>I don't need suffering.
Yes you do. Suffering is the emergence of conuiosness. Without it you would be a automaton. And when push comes to shove you will will let it be created not to lose your coniousness.
You seemed to have being implying some utopia system was around the corner.

No it just means more people than just some Jow Forums degenerates will be able to jack off to anime all day

deflation is good fag. makes your savings worthwhile

Yeah, and those without savings get fucked in the process.

Savings is like stealing from society

Are you saying the money you work for doesn't just sprout from the ground?

Ha, Ha. So you are too stupid to squirrel anything away so your plan is to take from whoever did save money by calling them thieves when you are really the lazy thief. Problem with your plan is you will not be able to access my money and if you try I WON'T LET YOU. You made your bed and your gonna lie in it, not me user.

Of course the jew preaches about public debt being a good thing. The fact is that the government is wasteful and is writing checks it doesn't have with our names on it.

What happens when debt markets turn sour on an ever increasing debt/GDP ratio?

I'm tired of being obligated to pay for a massive defense industry and bloated social programs.

Economic incentives are important and things are not going in the right direction when the government has no incentive to improve financial position.

Also, state pension systems are fucked. Unfunded pension liabilities for Illinois, CALPERS, and tons of other states will have to deal with the fact at some point.

>you will not be able to access my money and if you try I WON'T LET YOU
There's a hilariously impotent violent undercurrent to libertarian thinking. It's like the mirror image of Marxist talk about "when the revolution comes you'll be the first down to the guillotine" like yeah okay dude.

I don't preach about public debt being good. I quite explicitly said keeping the deficit through indebtedness is bad. I'm just saying government deficit aren't inherently bad.

>bloated social programs
Your social programs in America are everything but bloated.

Public pensions are a thing. Teachers and government employees get a public pension and those systems are massively unfunded. Healthcare costs and cost of living adjustments are going to go through the roof in the next decades and no politician wants to be the one to cut benefits and tell these lifetime mediocre government employees that their precious pension is not worth as much as they thought. It will land on states' taxpayers.

pensions are the ultimate gibsmedats and should be abolished immediately
if pensions would dissappear in belgium, belgians will pay 23% less tax

Yeah yeah but teachers dont get tenor tilll they are 50 these days. And most of the goverment pensions are city or state lvl, in which case the city will just declare bankruptcy

Our social programs are structured to incentivize poor decisions: too many kids, under employment, prescription abuse. America has never been european in its social programs and by historical measures, they are bloated. Furthermore, cultural trends would say they are destined to be leaned on by even more citizens.

That the (((bankers))) have stolen all the pension money and the pension funds are now empty was the real reason for bailing out the banks in the 2008 financial disaster - to hide that heinous crime until the guilty could safely escape.

There is no such global pension system.
Sage.

Idiot, we never had any faith in it to begin with. We've always known it was unsustainable.

So they declare bankruptcy, and then they have to sell buildings and other assets to repay bondholders? It will land on tax payers to hold their municipalities together.

>he pension system is going to collapse worldwide and you'll be forced to work 12 hours by day until 80 yo and never have a pension fund

I dont even have a job bud

Yes I know that this is why I own my house and 15 hectares of land split out in 2 places 10 here and 5 there, both are eligible for construction sites within 20 years.
I inherited them btw it used to be agricultural land but it's not worth working them and the yearly tax is like 30eur.

Underemployment is a choice?
And in what way is it bad?
I don't know about you, but leisure is nice and I would like to have more of it.

>I don't know about you, but leisure is nice and I would like to have more of it.
Maybe you should go to like a fun camp or something.

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We already know

I dont think you understand how legal bankruptcy works.
What are you trying to say Jewish person? Based on what you are replying to you are asking why social programs are bad, sense they give you more free time? And the answer is they crush society ounder the wight of free loaders.

It's not suffering that humans need, but purpose. Preventing suffering in their lives and those of the people they care about is big part of that, but suffering itself is not necessary.

I am aware of that and preparing for it. I own multiple real estate and have diversified my investments, I am not rich and I dont get much return but it has been steady.

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People will choose as little employment as possible while living a quality of life that is acceptable to them. Social programs don't exist to subsidize leisure, they exist to get people back on their feet to a level of financial independence.

Assets get liquidated during bankruptcy. Do you know how bankruptcy works? It's not just "get out of jail free" debt restructuring

mobile.nytimes.com/2013/09/11/arts/design/in-detroit-a-case-of-selling-art-and-selling-out.html

Detroit's bankruptcy manager suggested selling art from their museum. Stadiums, parking garages, and public buildings will all be considered for liquidation.

CPA here with ~10 years of accounting for a government. Pensions are a huge liability right now, under GASB accounting longterm liabilties arent even accounted for until theyre due and paid out. Obvious to see why this could be an issue. Also recent changes to reporting standards now make it so that OPEB and pensions that arent due yet only now need to be accounted for. As a result of this several governments (state and city level) have added massive amounts of liabilities to their books showing just how fucked we are.

Boomers also made it so that they didnt have to contribute to pensions during when they were working, as a result of that, most pensions are dying (and will stay dead) and newer employees will have to pay more.

very basic rundown, if anyone wants to know more feel free to ask

Thank you for some actual financial sense in this cacophony of idiots.

What do you think about pensions using hedge funds as a small part of their position? Obviously large fees but they can drive some bigger returns. Ultimately trying to out run the ever-increasing costs of medical expenses is a losing game.

I am also this guy,
I studied public economics and have a background in investment banking

Why should we reward people for not being moderate and forward-thinking?

>utter bullshit designed by assholes like

What exactly about the three words he uttered (which I agree with) implies he "designed" that "bullshit" as you describe it but have not qualified yet?

>Over the last few decades, global effective tax rate have been plummeting, especially on high-income/high-wealth individuals and corporations. Government social programs are in the red because governments choose to keep them there.

It's more than simply who bears the tax burden it's also the nature of what those high-wealth individuals and corporations actually do. An enormous amount of it is not actually productive capital.

>It goes even deeper, though: The fact is, with a fiat currency system, there is literally no real reason why the government can't just keep spending more than it takes in through taxation. Like, literally no reason. The only drawback to government deficits is that under the current system these deficits must be taken out as loans to the private sectors, and they function and upwardly-redistributive mechanisms. This can easily be fixed by implementing a different system of deficit creation (e.g. socializing the central bank), or if taxes on bondholders are raised enough to offset interest payments.

Yes there is it's called inflation. Plus governments are shit enough at doing things as it is when they're just using other people's money, let alone when they have the power to issue it.

Or

I become inna-woods and fuck the system

>1.) As long as government expenditure (+ private bank money creation) is kept within the bounds of real GDP growth, there is absolutely no reason why prices should rise.

So governments get to siphon surplus as well as private banks? Fuck off kike. How about we just keep it with a deflationary currency?

>2.) Most countries around the world right now deal, if anything, with a deflation crisis. Central banks consistently undershoot their own inflation targets (which are too low begin with).

The deflation crisis is because guess what - most people don't want to be living hand to fucking mouth with no claim to property beyond the labor of their own fucking bodies. Maybe you should stop trying to enslave people - they tend not to like it?

>3.) What's so bad about inflation, anyway? Of course hyperinflation is pretty terrible, but when kept under ~10%, inflation functions as a fairly effective downward redistributive mechanism. High levels of inflation encourage high levels of employment.

It's theft. Parasitism. All you're saying is: Yes if as a blood-sucking parasite I suck out too much blood too quickly I kill off the host's ability to produce more. But if I do it steadily I incentivise the host's bone marrow to work harder to produce even more lovely blood for me to suck out.

>The only people who stand to lose from inflation are the already wealthy.

Not if you benefit from issuing the currency, also how do you define wealthy? Because if you issue the currency wealth starts to become a laughable idea.

>Coincidentally, they are also the ones most vocal about it.

People who don't like having their money stolen by people who rig the financial system are vocal about it - see guys? They're the bad guys! Why don't you all want to just become virtuous and poor serfs we can siphon surplus from instead of aspiring to evil wealth based on sound money?

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>why should i give a fuck
and that's why the world is a shithole today