Huge pensions for retired government workers can be found from small municipalities to national governments on both sides of the Atlantic. There is a reason. For elected officials, pensions are virtually the ideal thing to spend money on, politically speaking. Many kinds of spending of the taxpayers' money win votes from the recipients. But...
During wars, the central bankers CREATE fiat money and credit from thin air. They lend out this artificial money and people buy incredible amounts of war supplies. The taxpayers get stuck with the bill. It's a mini-boom that DROPS living standards for all but the war-profiteers. The middle class gets smashed with debt and the central bankders end up owning more and more. It is a very old racket, and there's a reason why these bankers buy up all the newspapers and media historically. They spin all sorts of nonsense to distract the people from what the crooked pols and banker cronies are actually doing. Tactic #1 is to split up the public into two parties that hate each other. That keeps the focus on the other party.
A nation's choice between spending on military defense and spending on civilian goods has often been posed as "guns versus butter." But understanding the choices of many nations' political leaders might be helped by examining the contrast between their runaway spending on pensions while skimping on military defense.
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