General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEurope Faces Pension Predicament
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State-funded pensions are at the heart of Europes social-welfare model, insulating people from extreme poverty in old age. Most European countries have set aside almost nothing to pay these benefits, simply funding them each year out of tax revenue. Now, European countries face a demographic tsunami, in the form of a growing mismatch between low birthrates and high longevity, for which few are prepared.
Europes population of pensioners, already the largest in the world, continues to grow. Looking at Europeans 65 or older who arent working, there are 42 for every 100 workers, and this will rise to 65 per 100 by 2060, the European Unions data agency says. By comparison, the U.S. has 24 nonworking people 65 or over per 100 workers, says the Bureau of Labor Statistics, which doesnt have a projection for 2060.
More..
http://www.wsj.com/articles/europe-faces-pension-predicament-1457287588
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The conclusion, of course, and does not have to read the whole story, is the welcoming of the million plus refugees. They are young, willing and able to work and to start new businesses.
This is also the solution for our country except, I suppose, the anti immigration forces don't much care about Social Security and Medicare even though so many of their supporters in rural areas are dependent on them.
LittleBlue
(10,362 posts)We probably already have more unskilled laborers than we will ever need going forward. And with robots replacing people at simple tasks, the only immigrants we really need are immigrants who can invest and/or are technically skilled.
http://www.cnbc.com/2016/02/24/google-robot-is-the-end-of-manual-labor-vc.html
There are robots who can cook food and look after the elderly for around $50k-$200k. With costs to produce technology falling, as they inevitably do, it's only a matter of time. And not that far off.
We will soon have a massive, massive unemployment problem. Adding to the legions of unemployed is financially suicidal. All the cheap labor we could ever need will be supplied by robots.
question everything
(47,271 posts)Their own cafes, or stores, or repairing cell phones and other electronics.
Most will not look for unskilled jobs.