UK needs £20bn more austerity and retirement at 70, says Price Waterhouse Cooper (PwC) … Britain faces another £20bn of austerity and an increase in the pension age to 70 if public debt is to return to pre-crisis levels over the long-term, according to a new report. The pension, health and long-term care costs of the large baby-boomer generation will in future be paid for by a dwindling number of working age. The cost of looking after the country’s ageing population will become unsustainable unless younger generations work longer and pay higher taxes, analysis by PricewaterhouseCoopers (PwC) has found. – UK Telegraph

Dominant Social Theme: Action must be taken and retirements must be raised. People will simply have to get used to it.

Free-Market Analysis: We have often suggested that the 20th century was a kind of Dreamtime when Anglosphere elite control was at its highest point and people accepted most of the power elite’s dominant social themes. But in the 21st century many of these memes have begun to unravel thanks to the Internet, while others are predictably proving to be unsustainable. The idea that Western state capitalism and “investing” could provide a comfortable retirement is one such meme.

As the reality of Dreamtime sinks in, thanks to the collapsing economies of the West and the additional truth-telling of the Internet Reformation era, the massive American and European middle classes are growing increasingly upset. The elites have counterattacked with the usual tools of authoritarianism and war.

Such antidotes will only exacerbate tension and expand the chaos that the elites wish to impose in order to create increased global governance. We shall see, as the Internet Reformation expands, how successful they shall be. The 21st century is not the 20th and the Internet Reformation is a process not an episode.

Austerity is a necessary emergent meme of Western elites within this context. If society is to remain as it is, elite themes having to do with leisurely and prosperous retirements will have to be reconfigured. The promises will have to be reduced. This is already happening in Europe and is gradually moving West to Britain and America.

Full article at source here : http://www.thedailybell.com/2634/The-Rape-of-Austerity