Tuesday, June 8, 2010

 

Mark Steyn, with the math of Europe's bleak future:
In 1950 in Greece, one retiree was supported by roughly eight workers; by 2030, that ratio will decline to the point where one retiree will have to be supported by a mere two workers. That's according to the official OECD figures. But the OECD defines "retiree" as "64 and over", and workers as 20-64. And nobody in Greece works till 64. Hairdressers retire at 50 because it's categorized as a "hazardous profession". So realistically the worker/retiree ratio is probably heading for something closer to one-to-one-and-a-half. And, once that math becomes widely known, at least one of that one-and-a-half is gonna get the hell out rather than throw away his working life in a vain attempt to prop up Andreas and Spirou's lavish retirement home.

Oh, but don't worry about Greece. It's being bailed out by Germany - a nation with marginally less insane social programs but
just as fatal demographics.