Medicare trust fund to run out by 2026, Social Sec by 2034.

[Alvecia]

Problem with raising the retirement age is that even though we’re loving longer, we’re not necessarily living stronger. Someone unable to do a job at 60 isn’t going to be any more use at 75

[Gallia-]

Sounds like the perfect American model.

You want monarchy then you can move to Moscow.

We could never realistically establish a monarchy in the United States.

On the other hand, could Donald Trump pull an Alberto Fujimori and create a more efficient administration that allows for total centralization of federal power in a single set of hands? Hmmm....

Literally unconstitutional. Not even hyperbole.

Besides that, the president cannot stand against Congress and 50 governors. Unlike Peru, a broken society as any, the United States is rather functional in aspects of legal process and governance. What it lacks is a simple problem with no easy solution: not enough births and a lack of coherent industrial policy. Germany, on the other hand, has a coherent industrial policy. It is a leading industrial country, kind of like Japan. Israel has enough births, and even its urban population (AFAIR) has a replacement rate TFR. Cribbing from both would potentially solve America's most basic issues. OTOH, Singapore has neither high birth rates nor strong industry, being a city/large town slightly bigger than Detroit and having even less industry. A truly financial city whose lifeblood depends mostly on serendipity in its geographic location rather than any deliberate policy. And Peru is just shit, like Philippines or Mexico tier shit.

[Trumptonium1]

Individual retirement savings like property holdings ready to rent out to young people (future contributors), stocks on consumer corporations (future contributors) and treasury notes (future contributors) ???

errr

Who are these "future contributors"??

[Great Minarchistan]

errr

Who are these "future contributors"??

not me

[The Derpy Democratic Republic Of Herp]

And the global enforcement group for paying debts are who?

Bond vigilantes, anyone?

Deals with the US not the world.

[The Derpy Democratic Republic Of Herp]

I keep hearing "japanese stagnation" yet it never seems to happen.

Yea, ignore the 10-year growth rates hitting a multi-decade low...

Japan in the 90's: everything is fine

Japan in the 2000's: everything is fine

Japan in the 2010's: everything is fine

You don't see a mass of poor people in downtown Tokyo.

[The Derpy Democratic Republic Of Herp]

Sounds like the perfect American model.

You want monarchy then you can move to Moscow.

We could never realistically establish a monarchy in the United States.

On the other hand, could Donald Trump pull an Alberto Fujimori and create a more efficient administration that allows for total centralization of federal power in a single set of hands? Hmmm....

No, just no.

[Great Minarchistan]

Bond vigilantes, anyone?

Deals with the US not the world.

>Bond vigilantes exist solely in the US
Smart!

Yea, ignore the 10-year growth rates hitting a multi-decade low...

Japan in the 90's: everything is fine

Japan in the 2000's: everything is fine

Japan in the 2010's: everything is fine

You don't see a mass of poor people in downtown Tokyo.

"Japan, despite being the world's third largest economy, has a rising problem of poverty. Poverty figures are very hard to find in Japan because of its reputation as a developed country, it is generally assumed that the levels of poverty are relatively low. However several media reports contrast this."


"Domestic reports
2009
In October 2009, Japan's Labor Ministry released a report which stated that almost one in six Japanese, which would be 22 million people, lived in poverty, in 2007. This revelation was met with shock and surprise among the Japanese people.[5]

2013
In 2013, the Japanese government recorded relative poverty rates of 16% which was defined as the share of the population living on less than half the national median income. This was the highest on record.[6]

Demographics
Another study showed that 1 out of 3 Japanese women in the age group of 20-64, and those who live alone, were living in poverty.[7]"

[Saiwania]

He's more of a libertarian on the issue .. saying everyone should fend for themselves when it comes to retirement plans.

That is the only approach I view as realistic given the circumstances we're given at present. Most pensions have been done away with by the private sector anyways. Everyone is expected to figure out 401Ks, IRAs, mutual funds, and etc now.

Older people are more likely to have money so, why not have them rely on their own savings or ability to hold onto better jobs given their superior resumes? If they lose all savings, they probably could get a reverse mortgage or something and that huge amount of equity should last them until they die whenever.

[Thermodolia]

They have been saying this for decades. Back in 2008 they said that SS would be bankrupt by 2020. So pardon my skepticism

[Nulla Bellum]

Get rid of Social Security and Medicare. Encourage employers to match 401k to 13%

[Thermodolia]

Put more money into it then?

Money that the US does not have?

Print more!! What could possibly go wrong

[New haven america]

Yea, ignore the 10-year growth rates hitting a multi-decade low...

Japan in the 90's: everything is fine

Japan in the 2000's: everything is fine

Japan in the 2010's: everything is fine

You don't see a mass of poor people in downtown Tokyo.

Someone hasn't done their research on Japan in the 80's/90's and the Burakumin.

[Thermodolia]

Get rid of Social Security and Medicare. Encourage employers to match 401k to 13%

Hahahahaha that’s funny.

Either way Medicare, Medicaid, and the ACA should all be rolled into a national health care corporation. While SS should be turned into an actual pension and should be able to buy stocks and such to make money.

[United Muscovite Nations]

Yeah, this has been coming for a long time, it's pretty much inevitable in industrial society and it's one reason it's not sustainable.

[Nulla Bellum]

Get rid of Social Security and Medicare. Encourage employers to match 401k to 13%

Hahahahaha that’s funny.

Either way Medicare, Medicaid, and the ACA should all be rolled into a national health care corporation. While SS should be turned into an actual pension and should be able to buy stocks and such to make money.

Meh. Fuck the poor. Get rid of SS and Medicare, let businesses stop being tax collectors, let businesses put their contributions to SS toward matching 401k instead, let people who care about the poor do so on their own dime.

[Fartsniffage]

Hahahahaha that’s funny.

Either way Medicare, Medicaid, and the ACA should all be rolled into a national health care corporation. While SS should be turned into an actual pension and should be able to buy stocks and such to make money.

Meh. Fuck the poor. Get rid of SS and Medicare, let businesses stop being tax collectors, let businesses put their contributions to SS toward matching 401k instead, let people who care about the poor do so on their own dime.

American businesses aren't already legally obligated to contribute to employee private pensions?

[MERIZoC]

medicare for all

[NeoOasis]

Personally I think we should just increase taxes on Social Security and Medicare to reflect inflation and increased cost of services. Furthermore Medicare should more strictly regulate and oversee usage of their services. In some cases overuse of benefits can lead to thousands of dollars spent that didn't need to be spent.

Increasing the retirement age really won't do much beyond kicking the can down the road. The system needs a more comprehensive overhaul, and if anyone is going to shut it down... I want my money back.

[Nulla Bellum]

Meh. Fuck the poor. Get rid of SS and Medicare, let businesses stop being tax collectors, let businesses put their contributions to SS toward matching 401k instead, let people who care about the poor do so on their own dime.

American businesses aren't already legally obligated to contribute to employee private pensions?

Nope. Just match the tax paid into Social Security. It would be nice if that money (from employee and employer) was going into a 401k instead.

[The South Falls]

American businesses aren't already legally obligated to contribute to employee private pensions?

Nope. Just match the tax paid into Social Security. It would be nice if that money (from employee and employer) was going into a 401k instead.

What do those who can't work do? Do they just die? Homeless shelters can only serve so many people, you know.

[Napkiraly]

Anyone who utters "fuck the poor" shouldn't be taken seriously, so I don't know why you're giving them any attention.

[Trumptonium1]

Deals with the US not the world.

>Bond vigilantes exist solely in the US
Smart!

Japan in the 90's: everything is fine

Japan in the 2000's: everything is fine

Japan in the 2010's: everything is fine

You don't see a mass of poor people in downtown Tokyo.

"Japan, despite being the world's third largest economy, has a rising problem of poverty. Poverty figures are very hard to find in Japan because of its reputation as a developed country, it is generally assumed that the levels of poverty are relatively low. However several media reports contrast this."


"Domestic reports
2009
In October 2009, Japan's Labor Ministry released a report which stated that almost one in six Japanese, which would be 22 million people, lived in poverty, in 2007. This revelation was met with shock and surprise among the Japanese people.[5]

2013
In 2013, the Japanese government recorded relative poverty rates of 16% which was defined as the share of the population living on less than half the national median income. This was the highest on record.[6]

Demographics
Another study showed that 1 out of 3 Japanese women in the age group of 20-64, and those who live alone, were living in poverty.[7]"

You need to stop spreading misinformation about Japan and the economics of debt. Let me quote layman's terms:

Most of Japan's money is owed to itself, and in Yen. So if the value of the Yen falls...the debt is still basically the same. And it's Japanese citizens and Japanese banks that own most of the debt. Japan only has to answer to Japan. And Japan has enough money and is rich enough to pay off all its debt and to pay for what it needs. If the country needs more money, it can get it from the Japanese people and banks. That's because the central bank mandates Japanese financial institutions (which have tentacles across the planet) to hedge their speculation by buying Japanese treasuries, effectively creating a pool of money by sucking out money from elsewhere in the world.

Greece had debts in the Euro. It's debts were controlled by foreigners. The Greek economy went bad, and it was German and French banks that wanted money back. The economy went down and it couldn't pay its citizens or the debt. And it couldn't get more money from its own citizens.

It's not about the size of the debt, it's about the ability to make the payments. Japan is rich; Greece was poor.

The fact of the matter is that Japan simply got too overheated in the 80s and the effects are still being felt today, a victim of their own success. Japan's economy is still smaller in nominal USD terms today than in 1995 and that's not going to change.

This explains some of it in theory (although dubiously, because it's still a theory as it's untouched territory)
https://youtu.be/-quUyId2WZ0?t=2m31s

(His predictions were nevertheless wrong, as Japan's public deficit fell to sub-5% and current account surplus is back up to 5%. His description of the 'flow' is however technically correct for now.

Japan's debt is completely serviceable by the nature of its structure, its contributions and its repayments. Since almost all of it is in yen, repayment interest is at the mercy of Japan's base rates. Japan is, to not get into complex economic theories, printing money instead of borrowing it. Or borrowing from itself, to be precise. That is of course a crucial difference between Japan and any hyperinflation case (Germany/Zimbabwe/Hungary) you want to throw at me.

Also, reality checks:
Japan Current Account to GDP: 4%
Japan Unemployment Rate: 2.5%
Japan Job Vacancies: Hit 1 million for the first time in January.
Using your beloved (and largely completely irrelevant) measurement, Japan Public Spending to GDP is only 39%. Below free market heaven Estonia at 40, UK at 41, Germany at 44, Italy at 49 and France at 57.

Japan can, if it wants, reduce it's debt. That will include a lot of pain for its welfare system, though.

Japan's household debt is also only 57% of GDP. The US is at 80%, UK at 87%, Norway 102%, Netherlands 110%, Australia 121%.

Japan's tax burden is also firmly in the bottom quarter of OECD: around 33% on the average single filer earning average wage. In France and Germany this is 48-49%. There's a shitload of room to raise taxes. Virtually no payroll/VAT.

Let's not exaggerate Japan's problems, which are purely demographic and deflationary. Japan's debt problems are completely overblown and simply do not exist. Also, it's a self-fulfilling prophecy, since the deflationary spiral is exaggerating their debt.

https://www.ft.com/content/e26d36e6-918 ... d2f0ebb7f0
https://www.youtube.com/watch?v=7wIv7OvdbCk

[United American Commomwealth]

Medicare is dumb

You're paying more so that some big government bureaucrat can give you less

[Nulla Bellum]

Nope. Just match the tax paid into Social Security. It would be nice if that money (from employee and employer) was going into a 401k instead.

What do those who can't work do? Do they just die? Homeless shelters can only serve so many people, you know.

Get a monkey and an organ to grind.