Generational Ponzi Scheme

“The heart of the problem is arithmetic: The post-World War ll Social Welfare State, created at a moment when the baby boom was still gestating, is built on a generational Ponzi scheme. As life expectancy increases and birth rates decline, the population pyramid is being inverted—and in some countries that is causing the entire economy to topple.”

Ponzi Scheme: The Ponzi scheme generates returns for older investors by acquiring new investors. This scam actually yields the promised returns to earlier investors, as long as there are more new investors.

That does sound pretty accurate of the kind of social system we have.  Many laws and rights were implemented without a very good prediction of the future.  Humans have always been lousy at predicting the future.  We always think life will never be that much different from the way it is at the present time.  Or perhaps we do know better but putting a band-aid and some hope on problems is a much easier solution.  I guess sometimes a band-aid and hope is all that you really have to work with.

The idea is that your tax dollars help support the retirees and when it comes your time the generations before you support you with their tax dollars.  That’s the promise anyway, however, a popular notion is that people in my generation won’t see very much in the retirement years.  Who knows.  We’ll have to see.  I’m sure suicide will be much more popular and accepted by then.

The quote at the beginning was taken from the final words of Gillian Bennett, an 83 year old lady who decided to take her own life before her dementia did.  Her final words which she published on the internet is a very interesting and thoughtful read.  Most would say her choice to take her own life was very sensible.  Some others would say she is not going to heaven. Besides inevitably living in a vegetative state, she mentions not wanting to be a burden to her country as another reason for her decision.  One thing that surprised me was how she used the term “off myself.”  I didn’t think that was a term used by older folk.    

There’s much more to the letter.  If you would like to read it you can do so at the following link:





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