What will Europe look like in a year?

[Michael Hardner]

The payout only happens until the money is gone. If the benefits which you payed into are cut back, then there is nothing stopping them from taking it completely away from you.

Is ANYBODY talking about completely shutting down pensions, federal governments and similar disbursements at this point ? Even if that were the case, it wouldn't be a Ponzi scheme as many more have received benefits than a chosen few.

[GostHacked]

Is ANYBODY talking about completely shutting down pensions, federal governments and similar disbursements at this point ? Even if that were the case, it wouldn't be a Ponzi scheme as many more have received benefits than a chosen few.

They've been talking about it for some time Mike. They will milk it before it implodes. Let's look at Greece again...

http://articles.latimes.com/2011/sep/21/world/la-fg-greece-austerity-20110922

Reporting from Athens — With its cash reserves rapidly running dry, Greece on Wednesday unveiled new austerity measures that include more public sector job cuts and pension reductions to secure vital rescue funds and prevent a debt default.

The measures will result in scores of state organizations shutting down by the end of the year, terminating 30,000 state jobs, said government spokesman Elias Mossialos.

http://www.bbc.co.uk/news/10162176

The Berlusconi government adopted an austerity package in July, featuring savings worth 70bn euros. It included increases in healthcare fees, and cuts to regional subsidies, family tax benefits and the pensions of high earners.

It's just the beginning.

Don't forget Pensions are money invested by people for their retirement. Pension money is invested in the market hopefully to make a return. Do you really trust these people who got us into this mess, to get us out of this mess?

Again I must point out that the countries that are in trouble, like Greece and Italy, the leaders are out and the bankers are now in control. Expect this trend to continue.

[Michael Hardner]

They've been talking about it for some time Mike. They will milk it before it implodes. Let's look at Greece again...

Your quotes prove my point. They specifically refer to REDUCTIONS not cutting off disbursements entirely.

[GostHacked]

Your quotes prove my point. They specifically refer to REDUCTIONS not cutting off disbursements entirely.

Reductions are just the start.

[Michael Hardner]

Reductions are just the start.

Ok - then my point still stands. To repeat: nobody is talking about eliminating benefits so the term 'ponzi scheme' doesn't stand up.