I have had a bit of a tussle at the club because of my earlier musings about government employees and their golden pensions. Several mems having retired from the afore mentioned service took umbrage with most of my sentiment in the earlier post.
In my defence I would just say that I want everyone to have as nice a pension as possible. of course I do. But it now becomes clear that several countries, not just cities but countries, have been visited by bankruptcy with terrible consequences and we continue to see it. Riots in the streets, banks closed and currencies devalued. That is what we must avoid.
In business which after all generates the wealth whether one likes capitalism or not, must be flexible. It must feel the temperature of the times or face ruin. It must expand or contract but never stand still. I contend the government must do this also, and not just print money.
The pensions must be co-funded by the civil servants and the government equally. This should be agreed upon immediately.
That’s all I wanted to say about that.
I need a martini.
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