> Pension funds inherently depend on population growth to avoid shortfalls.
Pension funds inherently depend on increases in production. Population growth is one factor, but technological development can also increase production.
> The other near-ponzi scheme is the real estate market. In my city of Toronto, average real estate prices have gone from 2x average income in 1972 to 16x average income today.
Hello from a Vancouverite! I broadly agree with this point, and I'm not sure how to work our way out of a housing bubble beyond popping it and dealing with the aftermath. Too many people are invested in the status quo, so any politician who tries to pop it will be crucified for destroying the savings of a large portion of the population.
Pension funds inherently depend on increases in production. Population growth is one factor, but technological development can also increase production.
> The other near-ponzi scheme is the real estate market. In my city of Toronto, average real estate prices have gone from 2x average income in 1972 to 16x average income today.
Hello from a Vancouverite! I broadly agree with this point, and I'm not sure how to work our way out of a housing bubble beyond popping it and dealing with the aftermath. Too many people are invested in the status quo, so any politician who tries to pop it will be crucified for destroying the savings of a large portion of the population.