retirement is not possible with modern financial civilization once growth stops. Industrial is another matter altogether. Basing any society on perpetual growth is doomed to fail and EVERYthing in a capitalist society is heavily contingent on perpetual growth. Once that stops then look out – which is where we are about at in history. The end of growth based economics. First we need to go through the cannible stage of capitalism – where it has to eat itself to survive. It wont be pretty. Of course I saying this on a finance board is akin to speaking in tongues. We probably can handle a stagnation for some time but not a contraction, which will eventually come. Watch the canary in the coal mine greece to see the future. It’s all c-c-c-connected
