Comments by "리주민" (@user-nf9xc7ww7m) on "Why are FRENCH 🇫🇷 pensions UNSUSTAINABLE 💸 ? - VisualPolitik EN" video.

Back in my day, if you wanted to retire in France, you'd have to command a starship for 20 years and then house 2 Romulans on your vineyard and chateau. 😋
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@nerdlingeeksly5192 Pensioners earn that pension. Going to work every day for corporations and the state. It is part of their social contract (ie we work for set amount of years and pay taxes and in return you pay us til we die after reaching certain age). They are not leeching off the system. They built that system. If govt wants to reneg on that social contract, govt should refund everyone's taxes and apologise for taking their money.
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Pensioners earn that pension. Going to work every day for corporations and the state. It is part of their social contract (ie we work for set amount of years and pay taxes and in return you pay us til we die after reaching certain age). They are not leeching off the system. They built that system. If govt wants to reneg on that social contract, govt should refund everyone's taxes and apologise for taking their money.
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Pensioners earn that pension. Going to work every day for corporations and the state. It is part of their social contract (ie we work for set amount of years and pay taxes and in return you pay us til we die after reaching certain age). They are not leeching off the system. They built that system. If govt wants to reneg on that social contract, govt should refund everyone's taxes and apologise for taking their money. The only reason European countries are facing the crisis is due to not having a sovereign currency and national central bank.
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@brucemirbella2215 The Australian pension is approximately $18,652 per year. If super runs out, this would be quite meager. Better than nothing obviously.
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Super is not a pension. It's a 401k. It doesn't last til death, it is just the amount you out in plus meager interest. God forbid it runs out before you die. Euthanasia? Life annuity would be a private pension that gives the same amount til death (sometimes pegged to inflation).
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Pensioners earn that pension. Going to work every day for corporations and the state. It is part of their social contract (ie we work for set amount of years and pay taxes and in return you pay us til we die after reaching certain age). They are not leeching off the system. They built that system. If govt wants to reneg on that social contract, govt should refund everyone's taxes and apologise for taking their money. The only reason European countries are facing the crisis is due to not having a sovereign currency and national central bank.
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Pensioners earn that pension. Going to work every day for corporations and the state. It is part of their social contract (ie we work for set amount of years and pay taxes and in return you pay us til we die after reaching certain age). They are not leeching off the system. They built that system. If govt wants to reneg on that social contract, govt should refund everyone's taxes and apologise for taking their money.
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@alexandrinabob1 MMT works best when people (all over the world) have confidence in the currency. us Dollar is most famous amd most used so has high confidence. Romanian leu would need some PR and FOREX ads on YouTube, along with lower (or at least let the businesses in on such) corruption and lower business taxes. "...the second issue we highlight in our paper is that MMT’s chief policy recommendations have limited applicability outside of select advanced economies, due to the limitations to monetary sovereignty in developing countries. The international monetary system has a hierarchical structure organized around a key currency, the US Dollar. In this system, other currencies are positioned according to their degree of liquidity, which reflects the ability to perform three fundamental functions of money on the international scale: the means of payment, the unit of account, and store of value. The inability to perform these functions on a global scale places developing countries at the bottom of this structure, suggesting that most developing nations lack monetary sovereignty." Reference: https://scholarworks.umass.edu/econ_workingpaper/292/?_ga=2.43778981.1865339151.1597067091-1241365925.1590758931
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He's always upset. Korean trump...
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I believe this is about pensions. Do children get pensions?
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If govt can "print" billions of dollars to bail out wallstreet (la rue du mur) and to assist everyone with coronabucks, then it can "print" money for pensions. It is a manufactured crisis. Govts use MMT now, not classical banking.
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Pensioners earn that pension. Going to work every day for corporations and the state. It is part of their social contract (ie we work for set amount of years and pay taxes and in return you pay us til we die after reaching certain age). They are not leeching off the system. They built that system. If govt wants to reneg on that social contract, govt should refund everyone's taxes and apologise for taking their money. The only reason European countries and US states are facing the crisis is due to not having a sovereign currency and national (or in the case of state pensions, a state central bank) central bank.
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@gulliverdeboer5836 If govts, using MMT, can "print" money to bail out banks and businesses, and assist in coronabucks to all, they can "print" money for pensions. it's a manufactured crisis. Technically, taxes aren't even needed except to redistribute the wealth and make doubly sure inflation stays below 2%. So yes, possible inflation, but controlled inflation or higher taxes. And to the last point, hence the mass migration.
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@gulliverdeboer5836 That one-sided change is the very definition of an unconscionable contract and is considered illegal in most jurisdictions. Would love to see a supreme court case over this.
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Pensioners earn that pension. Going to work every day for corporations and the state. It is part of their social contract (ie we work for set amount of years and pay taxes and in return you pay us til we die after reaching certain age). They are not leeching off the system. They built that system. If govt wants to reneg on that social contract, govt should refund everyone's taxes and apologise for taking their money. The only reason European countries are facing the crisis is due to not having a sovereign currency and national central bank.
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Because le papier is on the far left of le bureau. 😋
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Apparently, socialists haven't tried MMT. If we can "print" money to bail out banks and wall Street, and to assist govt-mandated store closures for employees, we can "print" to assist the pension system. Manufactured crisis.
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@14thegr8 It's not a lack of understanding, it's just another theory/school of economics, like Austrian or Keynesian. https://www.investopedia.com/modern-monetary-theory-mmt-4588060
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Super is not a pension- it's a 401k. You can outlive it. What's next? Poverty? Euthanasia? A life annuity is a private pension for life. You cannot outlive it. If it says they will pay you $2,000 per month for life, then it is $2,000 per month for life. Inflation protection is an option, but costs extra (eg $1850 per month for life with 3% inflation protection).
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@popkhorne5372 Thank you for that. I can see the arguments for both. I still shake my head though at the us states preserving their state senates though as it was originally designed to mirror the US senate (represent counties equally, as the states are represented equally) until Reynold v Sims (1964) made the senate a carbon copy of the lower house. In fact, the supreme court technically made the US Senate unconstitutional as well since senators "represent trees, and not people" (geographic equality). On the opposite end of the spectrum, FSM (Federated states of Micronesia, not the flying spaghetti monster 😉) is the only unicameral federation (double majority vote).
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Why dont we do it backwards then? Everybody starts off as retired. When one is 65 or 70, they then go to work til they die.
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Run-off or ranked choice would be a good alternative to us presidential elections. Let the winner have to get 4/5 of the vote. Ranked choice is instant run-off where voters rank from 1 to whatever whom they prefer. As such, the run-off can be 20x to get the candidate who won 4/5 of the vote.
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The only reason European countries are facing the crisis is due to not having a sovereign currency and national central bank. Each country or even region should have its own central bank and currency. The euro should just be an interest free card that autoconverts into whatever currency is needed at the shop you're at upon swiping.
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What is the purpose of the French senate? France is not a federation. The senate is not nobility nor appointed nobility (eg uk). France only needs one house. The constitutional council can resolve constitutional concerns.
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The super is a 401k. You can outlive it. What's next? Abject poverty? Euthanasia? If you want private and personal, life annuity. You cannot outlive.
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@bengrin7822 Countries can't really go bankrupt. They create their own money. If careless, they could go hyperinflation. who would repossess the country? If countries can get repossessed, I guess Zimbabwe is now part of china and the US. Financial colonialism?
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Pensioners earn that pension. Going to work every day for corporations and the state. It is part of their social contract (ie we work for set amount of years and pay taxes and in return you pay us til we die after reaching certain age). They are not leeching off the system. They built that system. If govt wants to reneg on that social contract, govt should refund everyone's taxes and apologise for taking their money. The only reason European countries are facing the crisis is due to not having a sovereign currency and national central bank. The euro is a great idea, but better to have had national (or even regional) currencies and central banks with a European credit card that automatically converted to appropriate currency when swiped at stores.
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