• tetris11@lemmy.ml
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    16 hours ago

    Under the current system. All retirement vehicles dependent on the investment market will crash horribly. Anyone with retirement funds in such a crash is doomed. Which will force a reset and a switch to a new financial system (see: Turkey’s various resets over the last 50 years, or Greece in the last 10). Money will be lost. The system will reset, re-valuate the demand for such services, and people will be paid in a new currency to plug the supply.

    • RowRowRowYourBot
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      15 hours ago

      This has nothing to do with retirement funds in a stock market.

      The issue is entirely one of taxation. You need 2-3 people working for every retired person taking payments from the system. If you have 1:1 you cannot afford to do this which means either a massive die off of the elderly or a growing massive national debt.

      • tetris11@lemmy.ml
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        14 hours ago

        Or you reset the currency, like Turkey has done many times before no? You swear off your debts, print new money.

        • RowRowRowYourBot
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          13 hours ago

          No, because the issue is supply based. Changing the currency will never create a larger amount of money coming in than us leaving. Changing your currency also has very bad outcomes for your future ability to obtain loans which are critical for most nations.