German Pension Crisis the Same as Japan & USA

The Pension Crisis continues to spiral out of control and the central banks are incapable to reversing their policy. Raising rates now will cause budgets to explode and all the bonds they bought would collapse in price no less become totally unsalable. Now in Germany, the Bundesbank has addressed this crisis advising that the population must now work long term before receiving a pension and they must endure significantly higher pension contributions. In its monthly report published this week, the German central bank recommended increasing the retirement age to 69 years until 2060. They bluntly said that the federal government should not hide the fact that “further adjustments are inevitable.”