Passing Debt Bomb To Your Grandkids
AGEING populations in industrialised countries will set off a pensions “time bomb”, with the ranks of retirees swelling over the next 50 years. The impact on public finances will be like a tidal wave of personal finance destruction. The politicians have no plan in place to lessen this blow. The particulars may vary by State, Country, or Corporation, but the challenge is much the same across the industrial world, people over 65 will swell by 70million and the working-age population will grow by only 5million over the next 25 years. Any way you do the math it's a really big problem.
1 Trillion Public Pension Debt
The Debt Gap
California Pension Future Not So Sunny
Illinois Unpayable Pension Debt
Charge It...there's No Cash...Just Debt.
This problem is worse then any of the infographics show.
If we maintain the same type of financial structure as we have now, this won't just bury us, it won't even leave anyone standing.
The biggest part the infographics leaves off is that all these retirees have pension amounts that are larger than the supporting worker's salaries.
Fortunately, things will really change. We will not fund retirees like we used to.
So, all of you out there with a 401k or IRA, cash it out in move it into cryptos. Because it is all about to go away.
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