Meanwhile, pension systems in Western world collapse under their own weight. Maybe pension = fata morgana?
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Government social security systems work just fine if the funds received are not just spent.
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In that ideal world, the Chilean system would also work.
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No. Chile's system was fundamentally flawed. Assumptions were faked. Expenses took 1/2 of contributions.
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I said "in "hat *ideal world*". In the real world, governments spend 1/2 too, on other things.
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No. US social sec'y system, despite mismanagement, remains sound. Fixable with minor changes. https://www.ssa.gov/oact/solvency/provisions/ …
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@nihoncassandra@latimes It worked extremely well for financial intermediaries though. - 1 more reply
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