French Socialists Yield to Math on Pensions
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  • Pete

    “Not even the French can win the war on arithmetic.”

    What an odd thing to say. Since when within the past one hundred years or more have the french won an war.

    Oh, I forgot. Charles de Gaulle and his army liberated Paris n 1944. sure he did.

  • three_chord_sloth

    The pension mess both here, there and everywhere, will not be fixed until we acknowledge one simple truth — the one thing we all want from our pensions is the one thing we cannot truly have — and that one thing is a guarantee.

    We have been building our pension promises on an untruth; that our pensions should be based on what we earned and created during our working years. That was an illusion, sustainable only during an era of high growth; both economic and population-wise.

    In reality, our retirement comfort ought to be based not on what we made while we worked, but on the world we left behind for our children and grandchildren. If we leave them a world with plentiful opportunities and the wherewithal to grasp them, then our retirements are splendid; if we loot the place as we slip on out the door to “lock in” what we’ve “earned”, then we deserve penury.

    This is the basis of a worthwhile intergenerational compact; no looting allowed. And no can-kicking either.

    • Pete

      Very insightful analysis.

      Thank you.

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