Retirees who consume their savings leaving much less for their heirs, in particular. Retirees who have and love their heirs still have long time horizons.
This is the future of your pension fund.https://twitter.com/Schuldensuehner/status/1166443670897385478 …
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Got this yesterday
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There will be many more such letters, alas.
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I agree this is the 1st I’ve received but expect to receive more. I’m a signatory employer exposed to 6 different union trades.
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I still can't find an economist besides
@saifedean that can explain to me the "real" costs to society when the money supply can be expanded at the will of a government that is susceptible to special-interest politics and corporatism. -
Read Guido Hulsmann, "the Ethics of Money Production," to help understand the broader cultural consequences.
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Is this what a nation state exit scam looks like?
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Bonds have jumped the shark Bitcoin gonna impress
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Imagine a zero coupon bond issued at par as a perpetual.
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Bitcoin is going to be the best pension fund ever, for the early stackers.
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Are pensions allowed to hold negative yield debt?
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Required by Law to, actually.
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0% yield over 100 years while the government sucks the value out of your initial investment. Don’t see this ending well.
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Cursory google search yields no negative rate bond yield calculators currently available (standard versions won’t take a negative input either). I’d like to buy a bunch of these for the grandkids trust fund but seems mean since I’m not sure how much they’ll owe at maturity.
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Still not clear how there's no revolution by tomorrow morning.
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Everyone still has beer money, a roof, and steak once a week. Once that dries up....
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You are talking about (parts of) the developed world, while developing countries have a much more disillusioned population.
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But the developing world are issuing junk bonds or at the very least bonds that are paying back well. Much more risk of course also. Perhpas some in terrible countries could see this type of zero yield bond as a safeguard against the future of their own government.
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