Punzi Papers Essay 6 - The Public Pension System Is a Ponzi

Punzi Papers Essay 6 - The Public Pension System Is a Ponzi https://punziwars.substack.com/p/the-public-pension-system-is-a-ponzi

You are forced to pay into a pension that is never invested into anything waiting for you. Instead, it is paid out the moment it comes in for today's retirees from today's workers. The system functioned when the worker-to-retiree ratio was seven to one. Now it is closer to two to one. This public-pensions-ponzi is headed for demographic collapse and no political authority or state action can stop it.