PENSIONS
Just to start the conversation I've been contemplating the massive cultural and financial effects of pension plans.
The basic assumption is that at 65 if you don't work you don't get any money.
Why is this ?
We do have the Canada Pension Plan as a national program but all other pension arrangements require everybody, TO MAXIMISE THE RATE OF RETURN, WHICH IS NO DIFFERNT THEN PLAYING ROULETTE.
For maximun returns people ignore common sense and prudence.
If there was one adequare National Pension Plan or a guarenteed minimun allowance for all people of all ages the entire smoke and mirrors aspect of financial investing would be unnessary.
For those who want a little extra, we could return to a state where financial investments are backed by real money.
This of course would be boring but safe.
Without this drive to maximize and manipulate financial transaction,corporations could legitimately raise money by selling stocks or bonds.
MPs Pension Plan On Hook For $804 Million Says New Report - by Tim Naumetz
http://www.thehilltimes.ca/dailyupdate/view/mps_pension_plan_has_paid_ou...
"The day after Finance Minister Jim Flaherty promised to find $4 billion in cuts to federal programs over the next year, the government quietly tabled a report in Parliament that shows taxpayers are now paying $5.50 for every $1 that MPs and Senators contribute to the gold-plated pension plan for Parliamentarians.."
parasites