I have quite a big interest in European economics, because I am German and because I have a genuine interest in politics and economics. Germany is in a terrible situation at the moment. You might know this already, but here is a short and very simplified outline of the retirement fund situation for example:
The government takes a percentage of the current working population's salary each month to pay for the retirement of the currently retired population.
Because of the demographic situation in Germany (very quickly aging population) the current labour force has to pay more and more money every year in order to support he high amount of retired people. This becomes worse each year and will not be able to go on forever, especially since developments in medicine are permitting the retired population to live even longer and thus they have to be supported by the labour force longer. This is a vicious circle that Germany entered after WW2, and most other European nations as well.
The only un-radical solution to the problem is a gradual move towards an equivalent of the Australian super-annuation fund, where everybody ensures his own retirement. This system was not put in place after WW2 because the crippled population had no wealth to ensure a retirement, but it is now catching up with most socialist developed nations.
Australia is a big step ahead of Germany in this matter thanks to Paul Keating. This is just one example of the social and economic problems facing Germany and the other highly socialist nations in Europe. The greatest problem is arguably that due to the strong influence of the worker's unions the labour force of these socialist developed nations has grown accustomed to high payed labour with minimal working hours and extremely comfortable working conditions. This is becoming an issue now as eastern economies (especially Asia and also eastern Europe) have the ability to sell their labour force on the worldwide market at extremely low cost.
This is going to be very painful for developed socialist nations at first but will gradually disappear again as these eastern labour forces will themselves ask for higher wages and better working conditions. European nations are fighting this at the moment with subsidies and protective policies, but that will not last long. The Australian agricultural industry is a perfect example. Subsidising an ineffective industry is a total waste of resources, if one does not consider the social impacts.
As for my other interests I am a big fan of computers, rugby, surfing, cars, parties and extreme sports. So I am not somebody who talks about politics and society 24/7 as some people here seem to think.
Your quote about a PhD is quite similar to my signature if you think about it. The more you learn the more you realise how little you actually know. It’s not exactly that, but well kind of similar.
kathelle said:
Your. Mum. Me. Going. At. It. Every. Night.
(translation: I am insulting you)
May I enquire as to the reason which you are insulting me for?