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The Last Blunder: EU Superfund to Spend People's Pensions on Political Projects #44

Recently, there have been chatters on a EU Superfund that skim the pension funds of member states to fund two sets of EU-wide political projects: a. EU army, and b. Energy. In this podcast, I discuss the details and implications of this move.
Published by Dr Jiulin Teng on 31 Mar 2022 · Updated on 31 Mar 2022
Keywords: drjlt-economicseurope
Hero Image forThe Last Blunder: EU Superfund to Spend People's Pensions on Political Projects #44
Recently, there have been chatters on a EU Superfund that skim the pension funds of member states to fund two sets of EU-wide political projects: a. EU army, and b. Energy. In this podcast, I discuss the details and implications of this move.
Politically, this is easier to push through than new taxes. It is essentially a slush fund without accountability.
Future outlooks: 1. This superfunds SPENDS, rather than invests. However, with negative interest rates and the statuary requirement to invest in government bonds, the pension funds have been in the red all along. 2. Europe can be militarized, which can cause some trouble in the region; however, I argue that the impacts will not be global. 3. Pensioners living on fixed income will be left with the shaft.
Global implications: A. US win: more arms sales + more wealth flowing in B. EU population loss C. Rest of the World must learn never to surrender their lives to a supranational, unaccountable organization, whether you believe in democracy or not.
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