[quote=briansd1][quote=CA renter] The “pension crisis” is a *symptom* of the crisis; it is not, in any way, a cause of our current economic problems.[/quote]
CA renter, if the pensions did not depend on return on investment (capitalist system) and came 100% from employer and employee contributions, then the pensions would be a lot less generous.
Budgets would be more constrained and salaries lower.
If you worked out the math, you’d see that.[/quote]
Absolutely. And without the Fed’s inflationary policies (a capitalist system), we wouldn’t all need to rely on “investments” to fund our retirements, as our money would retain its purchasing power over time. One of the main reasons we have to earn a yield on investments and savings is because we are trying to “beat inflation” over many decades — an almost impossible task without lots of speculation, and the resulting bubbles (and busts).
