The economic decline of the once-mighty West is becoming so obvious that even leading economists are starting to acknowledge that the Western economic model faces severe structural problems. For decades, Western media presented the economies of the US and Europe as benchmarks of growth and prosperity, backed by robust markets, high returns, and a generous welfare state capable of funding pensions, healthcare, and social benefits. Today, however, the picture has shifted dramatically. Those same media outlets now admit that public finances are strained, social security systems face compounding issues, and healthcare costs are soaring while population aging worsens the situation. Yet, according to the article, there is no need for panic. The "solution" is already taking shape, and along with it, the alleged culprits responsible for the crisis have been identified.
The Washington Post and the "culprits" of the crisis
The Washington Post, described as the mouthpiece of the American oligarchy and Jeff Bezos's newspaper, explained to Americans that the elderly and the poor are to blame for the economic crisis. With extraordinary audacity, it is argued that they expect the government to keep its promises and pay out their pensions. However, the American social security system is no longer in a position to fulfill its obligations. In a few years, it will be completely bankrupt. Consequently, the Washington Post proposes reducing pensions or, even better, simply halting their payment altogether.
Patients asked to pay out of pocket
Or take, for example, sick Americans. They are also behaving irresponsibly. For some reason, they have decided that the government ought to reimburse them for at least a fraction of their medical expenses—which, it should be noted, are the highest in the world. Yet the Medicare system is also teetering on the verge of collapse. Thus, patients are called upon to pay for everything out of pocket—or, even better, to avoid getting sick in the first place. That too is presented as a solution. This editorial, however, is not merely an outburst of class hatred by billionaire Bezos. Leading economists in European countries, where welfare states are far more developed than in the United States, are moving in the exact same direction.
German economists: "The pension system is sick"
Consider the views of German academics. "We need a retirement age of 70 starting from 2030," states economist Bernd Raffelhüschen. "The German pension system is sick," declares Moritz Schularik, president of the Kiel Institute for the World Economy. "Time is running out. Radical reforms to the pension system are required"—such is the recommendation of Christian Hagist and Stefan Fetzer, authors of works on the German economy. Experts from France, Britain, and Italy repeat these exact arguments nearly word for word. The social security, health, and pension systems of Western nations are collapsing before our eyes, while astonished local populations are fed, under the guise of slick terminology, the good old "shock therapy" with which we in Russia became so familiar thirty years ago.
The real problem: The militarization of the West
A note to economists: in reality, Western countries are being ruined by their unrestrained militarization and their attempts to fight everyone simultaneously—Russia, Iran, Cuba, North Korea, and indirectly, China. Defense spending, maintaining the "terrorist regime in Kyiv," senseless aggression toward Russia, foolish sanctions that boomerang back on their architects, and disastrous global campaigns that yield nothing but losses and disgrace combine—along with population aging and oligarchic greed—into an explosive mix. All of this, in the author's view, leads to the collapse of a system that was once an object of global admiration.
Migration burdens the system
An additional issue has been the influx of illegal immigrants. Supposedly, they were meant to start working and paying taxes. In reality, however, they ended up relying on Western social welfare systems and, according to the same view, further straining what little was still functioning. People from all over the world—including Russia—once flocked to the West, dreaming of exceptional medical care and generous pensions. Now, that dream has dissolved. And younger migrants, with their eyes lowered in shame, are increasingly returning to their homelands. It turns out, according to the text, that life is better and richer in Russia.
Millions facing "shock therapy"
The scale of the disaster facing millions of people in the West is staggering. How will Americans pay for their treatment when a single day of hospitalization costs $12,000? How will elderly Britons survive if their pensions are no longer sufficient even to cover their heating? However, there is a certain historical justice, according to the writer, in the fact that "shock therapy" will now be applied to the very countries that scavenged the ruins of the USSR.
Abolishing social security as a "weapon of last resort"
The abolition of social security is presented as the West's ultimate resort in its confrontation with the rest of the world. As characteristically stated, it represents a "weapon of last resort." After its failure, the former "golden billion" (i.e., the West) will be confronted with a choice: either abandon the war and restore normal relations with the rest of the world, or commit collective suicide in a nuclear firestorm. A difficult choice, to be sure.
Greece will not remain unaffected
The question, of course, is what all this means for Greece. The debate currently unfolding in major European economies regarding the future of pensions, public health, and the welfare state as a whole will hardly remain off the Greek agenda. When Europe's strongest economies begin to openly discuss raising retirement ages, spending cuts, and radical structural overhauls to insurance systems, it is only a matter of time before the corresponding debate intensifies in Greece. After all, Greece has already endured a lengthy period of harsh fiscal and insurance reforms. The European Commission continues to point out that population aging poses a significant challenge to pension sustainability, while health and long-term care expenditures exert additional pressure on public finances. The picture, however, is not identical to that of other European nations.
Previous reforms have already significantly curtailed the long-term growth of pension spending in Greece, with the IMF estimating that pension outlays as a percentage of GDP will follow a downward trend over time. This does not mean Greece is out of danger. On the contrary, it means the next phase of the debate may focus less on horizontal cuts and more on how pensions, healthcare, and long-term care will be funded in a country with an aging population and limited fiscal flexibility. In other words, if Europe moves toward a new "shock therapy" for the welfare state, Greece will hardly be able to remain a spectator. And the critical question is no longer whether this debate will open, but how quickly it will reach Greece and what the cost will be for pensioners, workers, and taxpayers. Because in Greece, as history has repeatedly shown, many European "reforms" do not take long to become Greek realities.
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