John Rubino recently wrote about the impending crisis in Europe, there’s just not enough new workers to help pay for the retirees getting ready to enter the system. It seems that they adopted a pay as you go system that never even pretended to set aside reserves for future retirees. Now, people are living longer and there’s not enough new workers to pay the retired workers’ tab. This leaves governments few choices to fund this growing burden. Immigration isn’t working too well and this leaves the tried and true method of inflating away debts. But there’s always a cost!
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