Excerpt
Germany is well down the path to national insolvency--a path shared by all developed nations attempting to fund unsustainable Savior States.
That the Savior State appeared sustainable was an accidental coincidence of cheap oil and favorable demographics. The notion that a central government could provide cradle-to-grave care for all its citizenry was only possible when the worker-to-retiree/recipient was on the order of 10-to-1 or 5-to-1. Now that it is effectively 2-to-1 in most of the developed world, the demographics have turned decidedly unfavorable.
Correspondent Michael M. submitted this report on taxes and demographics in Germany, the Eurozone's largest economy and the world's biggest exporter.
http://www.oftwominds.com/blogmay10/...hics05-10.html
That the Savior State appeared sustainable was an accidental coincidence of cheap oil and favorable demographics. The notion that a central government could provide cradle-to-grave care for all its citizenry was only possible when the worker-to-retiree/recipient was on the order of 10-to-1 or 5-to-1. Now that it is effectively 2-to-1 in most of the developed world, the demographics have turned decidedly unfavorable.
Correspondent Michael M. submitted this report on taxes and demographics in Germany, the Eurozone's largest economy and the world's biggest exporter.
http://www.oftwominds.com/blogmay10/...hics05-10.html
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