The EU Pensioner Crisis: an Intergenerational Conflict Escalating Across Housing, Pensions and Welfare
Madoff got 150 years for a $65 billion pyramid. France's own accrued pension liabilities run 397% of its GDP, and nobody goes to prison for that, because participation is mandatory by law. In 1960, one European pensioner was held up by 6.7 workers. Today it's 2.8. By 2050 it will be under two. This is an autopsy of the broken intergenerational contract: who bought a house for three years' salary and is selling it back to you for eight, why your contributions will never become your pension, where Europe's Nvidia went — and why the largest protest of a generation wasn't against the pyramid, but for the right to get into it two years earlier.