{"id":26357,"date":"2017-10-01T18:43:59","date_gmt":"2017-10-01T23:43:59","guid":{"rendered":"http:\/\/olduvai.ca\/?p=26357"},"modified":"2017-10-01T18:43:59","modified_gmt":"2017-10-01T23:43:59","slug":"global-retirement-reality","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=26357","title":{"rendered":"Global Retirement Reality"},"content":{"rendered":"
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Global Retirement Reality<\/a><\/span><\/h3>\n<\/header>\n
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Global Shortfall<\/a>
\nUK Time Bomb<\/a>
\nSwiss Cheese Retirement<\/a>
\nPay-As-You-Go Woes<\/a>
\nLisbon, Denver, Lugano, and Hong Kong<\/a><\/p>\n<\/div>\n

Today we\u2019ll continue to size up the bull market in governmental promises. As we do so, keep an old trader\u2019s slogan in mind: \u201cThat which cannot go on forever, won\u2019t.\u201d Or we could say it differently: An unsustainable trend must eventually stop.<\/p>\n

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Lately I have focused on the trend in US public pension funds, many of which are woefully underfunded and will never be able to pay workers the promised benefits, at least without dumping a huge and unwelcome bill on taxpayers. And since taxpayers are generally voters, it\u2019s not at all clear they will pay that bill.<\/p>\n

Readers outside the US might have felt smug and safe reading those stories. There go those Americans again, spending wildly beyond their means. You are correct that, generally speaking, we are not exactly the thriftiest people on Earth. However, if you live outside the US, your country may be more like ours than you think. Today we\u2019ll look at some data that will show you what I mean. This week the spotlight will be on Europe.<\/p>\n

First, let me suggest that you read my last letter, \u201cBuild Your Economic Storm Shelter Now<\/a>,\u201d if you missed it. It has some important background for today\u2019s discussiion, as well as a special invitation to attend my Strategic Investment Conference next March 6\u20139 in San Diego. With so much change occurring so quickly now, next year\u2019s conference is an event you shouldn\u2019t miss.<\/p>\n

<\/a>Global Shortfall<\/strong><\/p>\n

I wrote a letter last June titled \u201cCan You Afford to Reach 100?<\/a>\u201d Your answer may well be \u201cYes;\u201d but, if so, you are one of the few. The World Economic Forum study<\/a> I cited in that letter looked at six developed countries (the US, UK, Netherlands, Japan, Australia, and Canada) and two emerging markets (China and India) and found that by 2050 these countries will face a total savings shortfall of $400 trillion.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

Global Retirement Reality Global Shortfall UK Time Bomb Swiss Cheese Retirement Pay-As-You-Go Woes Lisbon, Denver, Lugano, and Hong Kong Today we\u2019ll continue to size up the bull market in governmental promises. As we do so, keep an old trader\u2019s slogan in mind: \u201cThat which cannot go on forever, won\u2019t.\u201d Or we could say it differently: […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[403,8226,7758,1816,4696,5631,775,2080],"class_list":["post-26357","post","type-post","status-publish","format-standard","hentry","category-economics","tag-hong-kong","tag-john-mauldin","tag-mauldin-economics","tag-pensions","tag-portugal","tag-retirement","tag-switzerland","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26357"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26357\/revisions"}],"predecessor-version":[{"id":26358,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26357\/revisions\/26358"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}