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Old 03-11-2017, 10:37 AM
 
6,326 posts, read 6,567,509 times
Reputation: 7457

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Quote:
Originally Posted by Henry10 View Post
Sure, let's talk brutal. Let's say you are 30 or 40 year-old, and now we tell you -- "when you become 65, you are useless, you are a drain, we will despise you, and get rid of you."

Let's see how you would think about retirement, or in more general sense -- how would you approach life. Go ahead, tell me.
Obviously, we do not apply brutal economic principles to every area of our life even though certain political forces push for more Economics 101 in our lives. Funny geezers overwhelmingly voting Trump in my county wanted more Economics 101 rigor imposed on younger people who just have it too good with welfare talk radio talks about and stuff. When and big if I will grow that old at the very least I will not delude myself about "jobs" my care and disposal would provide. I would know that I am on the mercy of younger workers, it takes some economic surplus to provide for unproductive me, and if there is no surplus... in the good olden days Japanese dumped their old in the mountains to die so younger ones could survive. Unfortunately I will get old in very uncertain times when surplus is anything but certain. If you are an older person you already have it much better than older me would have. I will have it even worse than older generations because Economics 101 effectively trashed communities and families where people care for each other for non economic reasons.
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Old 03-11-2017, 01:48 PM
 
1,364 posts, read 1,110,845 times
Reputation: 1053
Quote:
Originally Posted by Henry10 View Post
You post a link to support your opinion that Germany's fiscal health is very robust. Yet, that link shows Germany's Net Debt picture to not be very pretty.
Overall it's pretty robust. Germany as a whole has a very strong net international investment position (NIIP). Germanys external financial assets exceed its liabilities by far. Germany constantly produces more goods and services than it consumes. That makes Germany financially extremely sound.


Quote:
Before you make personal attacks while making a duet with Lucas who always has denied reality, you should understand that the people that make the argument of the 200% of the TRUE public Debt to GDP, and not 75% that Eurostat reports, attribute the UNFUNDED liabilities to this discrepancy, and not deposits.

Axel Weber (former head of Germany's Central Bank) made the same statement a few years back. He said REAL number is 200% not 75%. For PUBLIC debt.

Jagadeesh Gokhale, an expert on American and European public liabilities even argued a few years ago that his calculation for Germany's PUBLIC debt-to-GDP was 418%.

Just last year Citi noted that Germany, France, Italy, the U.K., Portugal and Spain had estimated public sector pension liabilities that topped 300 percent of gross domestic product. -- Rich countries have a $78 trillion pension problem

Lucas in the past has made the argument that these don't count, because this is a Pay-as-you-go scheme. But this leaves out the "unfunded" part.

Secondly, given Germany's low birth rates and shrinking population, this argument is an ostrich hiding its head in the sand.
Future pension obligations are in real economic terms always unfunded. It doesn't make a difference whether they are backed by financial assets or not. Equities for example are worthless until they are backed by economic performances and corresponding high profits in the future.
The retirement savings in the U.S. in this 401(k) plan are also nothing else as debt. Debt that has to be "payed off" by real economic output in the future.
Retirees have to be provided in the future with goods and services. These goods and services can't be produced now. They have to be produced in the future. No matter whether pension rights are "funded" by equities or "unfunded" in a pay-as-you-go system.
The burden for a country will be moderated when the country holds more foreign assets than it has liabilities towards foreign countries. That's the case for Germany. The strong net international investment position means that in the future foreign countries have partially work for German retirees. That's the reason why it makes sense when in the future more German retirees would spend their evening of life abroad.
Some Americans mock about "unfunded" pension obligations in Germany. At the same time these people complain about Germanys large current account surplusses. That's stupid. The current account surplusses are a provision for the future.
Countries with a vastly negative NIIP (like the U.S. for example) not only have to provide their own retirees with goods and services in the future. They also have to provide other countries with goods and services to balance its NIIP.

I have the impression that you don't understand basic economic coherences.
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Old 03-11-2017, 07:06 PM
 
Location: Ubique
4,316 posts, read 4,188,040 times
Reputation: 2822
Quote:
Originally Posted by lukas1973 View Post
Overall it's pretty robust. Germany as a whole has a very strong net international investment position (NIIP). Germanys external financial assets exceed its liabilities by far. Germany constantly produces more goods and services than it consumes. That makes Germany financially extremely sound.




Future pension obligations are in real economic terms always unfunded. It doesn't make a difference whether they are backed by financial assets or not. Equities for example are worthless until they are backed by economic performances and corresponding high profits in the future.
The retirement savings in the U.S. in this 401(k) plan are also nothing else as debt. Debt that has to be "payed off" by real economic output in the future.
Retirees have to be provided in the future with goods and services. These goods and services can't be produced now. They have to be produced in the future. No matter whether pension rights are "funded" by equities or "unfunded" in a pay-as-you-go system.
The burden for a country will be moderated when the country holds more foreign assets than it has liabilities towards foreign countries. That's the case for Germany. The strong net international investment position means that in the future foreign countries have partially work for German retirees. That's the reason why it makes sense when in the future more German retirees would spend their evening of life abroad.
Some Americans mock about "unfunded" pension obligations in Germany. At the same time these people complain about Germanys large current account surplusses. That's stupid. The current account surplusses are a provision for the future.
Countries with a vastly negative NIIP (like the U.S. for example) not only have to provide their own retirees with goods and services in the future. They also have to provide other countries with goods and services to balance its NIIP.

I have the impression that you don't understand basic economic coherences.
It's very ironic that you talk about coherence. You are shifting and changing your arguments again. So now, you are talking about public debt, just that it isn't really debt --dilettantish.

Then you get your panties in a bunch with NIIP, which is another helter-skelter argument in the context.

Unlike 9 months ago which got me in trouble, this time I will bite my tongue, not respond, and put you on very deserved Ignore List. Have a nice life.
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Old 04-26-2017, 12:41 PM
 
4,026 posts, read 4,435,525 times
Reputation: 1880
Quote:
Originally Posted by Return2FL View Post
The idea that Europe would be stable and peaceful without a strong NATO appears rather idealistic. The threat of mutually assured destruction is what keeps everybody in their place. It is not related to some kind of modern enlightenment. Some humans will instinctively take advantage of a perceived weakness no matter how enlightened you may believe them to be. It will only be a matter of time before such a person finds power somewhere in Europe and the only way to keep such people in check is by being stronger than them. Nukes are why there hasn't been a major war in the world for 75+ years, not enlightenment.

When I read some of this stuff, it makes me sort of wish that the US would withdraw into its borders, withdraw from all military alliances, protect itself and let the rest of the world's chips fall where they may.
NATO has outlived it's usefulness. It's used as a vehicle to antogonize Russia and has hostile Islamic Regimes such as Turkey that could provoke war with it's enemies while done nothing to stop terrorism or migrations.
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Old 04-26-2017, 02:01 PM
 
25 posts, read 27,592 times
Reputation: 15
Quote:
Originally Posted by Rob702 View Post
I bet those 30% are not all Muslim immigrants, right? The majority of those "non ethnic Germans" are probably other Europeans and if I remember correctly, this number also includes everyone who migrated to Germany since WWII. Many people from Eastern Europe who are perfectly integrated for the most part.



The folks above 30 are pretty relevant for "procreation" in Western societies. Where did you get the number of 9 million immigrants from? Why don't you just say 15 million, to make it sound even more dramatic?

You said yourself that the majority of those refugees are men. You are aware that it requires the birds and the bees, right? I don't see how this is going to have an effect on the birth rate of Muslims in Germany unless they find German girlfriends, which most likely are not going to raise their children as IS soldiers. In that case Germany would be doomed indeed.


Still they are foreigners with different culture, I see southern italians here in northern germany, they behave completely different, look like completely different people and dont even speak the language. Only dutch and scandinavians have a comparable Culture to germany, even thought they still differen in some ways.. Id say they seem less strict,less obsessed with pocesses (more goal oriented), less likely to be hierarchical .. and overall more laid back. Other Europeans are very different from germans... with the exception of Austrians, and to some extend German-swiss who tend to be not so different to germans in the deep south.. although very different from rest of germans..
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Old 05-13-2017, 05:10 PM
 
4,026 posts, read 4,435,525 times
Reputation: 1880
more-german-millionaires-are-moving-abroad:



https://global.handelsblatt.com/comp...-abroad-715493
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Old 05-13-2017, 05:18 PM
 
1,473 posts, read 1,321,096 times
Reputation: 549
Quote:
Originally Posted by Czedko View Post
Still they are foreigners with different culture, I see southern italians here in northern germany, they behave completely different, look like completely different people and dont even speak the language. Only dutch and scandinavians have a comparable Culture to germany, even thought they still differen in some ways.. Id say they seem less strict,less obsessed with pocesses (more goal oriented), less likely to be hierarchical .. and overall more laid back. Other Europeans are very different from germans... with the exception of Austrians, and to some extend German-swiss who tend to be not so different to germans in the deep south.. although very different from rest of germans..
So, you are back..
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Old 07-10-2017, 01:03 AM
 
Location: Copenhagen, Denmark
10,931 posts, read 11,692,733 times
Reputation: 13170
Quote:
Originally Posted by Tiger Beer View Post
As someone else mentioned, the report is old...

Another thing happening is that northern Europeans are retiring more and more in southern Europe. Mostly because of the EU and the fact that they generally easily can.
Even if the data were new, my thought is that it would be hard to find an effect strictly due to migration. There are so many reasons to migrate: high unemployment, traditionally being the main reason for movement within the EU. Moving outside the EU? I think those days are long over (Ireland and Itlay to USA, for example).
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Old 07-10-2017, 11:29 AM
 
Location: Katy,Texas
6,458 posts, read 4,039,484 times
Reputation: 4497
Quote:
Originally Posted by Dave Coe View Post
While Israel does have terrorist threats French Jews still feel more comfortable in a society where they are the majority. Also Israel is very nationalistic and unlike France is not tolerant towards Muslims and non Jewish immigrants.
Muslims make up like 14% of Israel and that country is overrun with immigrants what are you talking about, Israel is more Islamic than France.lol.
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