US EditionGermany’s Pension Ponzi on the Brink \ stacker news ~econ
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Germany’s Pension Ponzi on the Brink \ stacker news ~econ
If you’ve ever wanted to witness the slow-motion collapse of a Ponzi scheme, you might want to keep an eye on Germany’s public pension system. Rhetorically and politically sugar-coated as a “pay-as-you-go” system — where today’s workers finance the retirement of yesterday’s — this bureaucratic redistribution leviathan is utterly dependent on an ever-growing pool of contributors. Problem is: Germany is aging, shrinking, and losing its industrial …
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