The unpalatable truth?
“When I look at the current picture of expected tax revenues combined with benefits promised to future generations, this is the most unsustainable situation I have ever seen in my career” ~ Stanley Druckenmiller
The welfare state today is not fit for purpose. Its architects had not conceived it for a world of 90-year longevity, mass migration or a low interest rate environment. The mathematics of ‘Baby Boomers’ retiring plus low birth rates just does not add up.Read article »