The NEXT big CRISIS that is THREATENING SPAIN? - VisualPolitik EN
Vložit
- čas přidán 9. 06. 2024
- Join the VisualPolitik community and support us on Patreon: / visualpolitik
Over the last four decades, Spanish society and the Spanish economy have undergone an enormous transformation. Since the 1970s the country has modernized and integrated into the global economy at full speed.
However, despite this, Spain faces major threats, including a storm, an economic tsunami that could sweep away the country's prosperity. In this video we tell you all the details.
As long as Spain has a high youth unemployment rate those youth won't be having kids anytime soon. Same goes for Portugal, Italy and Greece. And btw, the youth themselves also migrate to richer countries for better opportunities.
Sadly. 😥
It seems like a capitalist scam that feeds into itself. They emigrate to countries who themselves have ageing populations to prop up demand in a society where demand is dwindling. How can the world economy sustain itself with this model?
@@deezeed2817 Please respond to 1) Soviet Union pre-1989 2) China pre-1978. Were they successful in meeting the needs of their people? 3) China post 1978 China when they incorporated capitalist elements.
@@ronaldmcdonald3965 are you _the_ Ronald McDonald? lmao that would better explain your references
and then these countries must bring in immigrants to do the essential jobs that these young Spaniards, Italians, Portuguese, will not do and then people turn around and complain that the immigrants took their jobs when in reality, the immigrants are keeping their country running! Time for truth.
The video does not say that in Spain there is 16% unemployment and almost 40% youth unemployment. Those over 55 do not work because of prejudices fed by governments to hide this serious underlying problem.
He actually has another video exactly about this topic
@@fineartlifestyling Thanks. Can you tell me the title?
There are hundreds of thousands cheap workers from Latin America and from countries like Romania in Spain. That doesn’t make sense looking at record levels of youth unemployment. The Spanish youth seems to be too much academically trained and must thus find work abroad. But in doing that they have to compete with local or global workforce. For us central Europeans it means much more pressure and that big portions of our own population doesn’t speak our language and doesn’t need to. Of course everybody wants a well paid job in specialized field. But all that happened was a economy relying on cheap labor on one hand, shortage of important craftsmanship on the other hand and by far not enough jobs in specialized jobs. It’s the same desaster in Italy or the UK. We don’t need so many academics- a well trained plumber with decent income is more helpful than another unemployed person coming from Gender studies, Languages or Management psychology.
To be fair, latinamericans in Spain are counted by millions.
Blaming people for getting old is easier than blaming Governments for printing the currency into oblivion.
I'm 36 and have lived and worked in Spain for most of my adult life. This was great to watch. Much appreciated.
As an autonomo (self employed) in Spain, nothing fills me with dread more than labyrinthine tax and business regulation. So much so, I actively avoid future investment here. Better returns lie elsewhere, and certainly not in the Euro area. That said, climate and traditional diet are outstanding..olive oil, vegetables and fish.
Grass is always greener somewhere else
Yes, I am currently wanting to purchase a property and the more I learn the more hesitant I am becoming. I have the services of a lawyer, who states that even for her the law regarding property is daunting, with taxes, and families and hidden costs.
@@sanatandharma4435 me too , where are you ?
@@sicuro5050 Oviedo.
Matthew you chose to relocate in Spain, easy, go back to your country. Spain receives a lot of English-speaking people looking for sunshine, party and wishing to earn a lot of money by giving English classes having no degree at all.
Very interesting video. Just 2 problems with the "retire later" solution. The Spanish labor market is a grinding machine. It has a massive unemployment rate and the ones that are employed have in general poor conditions. Also, after 55 you're basically unemployable if you lose your job, so not sure how retiring later will help. Spain needs a change of economic model and culture.
In my sector, computer information technology, you're almost unemployable after 35. I've been 14 years unemployed already.
Your point is significant. You can't impose New Zealand solutions on Spain. The entire culture is shaped to reject them.
@@danspencer4235 - unfortunately Socialist Economics (by definition) are only viable in ALREADY DEVELOPED COUNTRIES because you need WEALTH to "give back" from richer to poorer. Spain is definitively not there, just all 4 Scandinavian countries (and scaringly USA and Canada) are there and New Zealand (and Australia behind it) are "getting there".
Each country should CHOOSE OR LEAVE economic ideas from other systems based on the countries political and social culture...
Wow, you really nailed it and few people here addressed this. Ironically and tragically for a country with a rapidly aging population - ageism is pervasive. Private companies often force workers out in their 40's or early 50's! Getting a job in Spain as an 'older' worker is nigh-on impossible. Essentially the only workers who are protected as such are in the public sector and they often choose to leave at 60 because they can. So many things need to change and change fast in Spain that it's hard to see how the country can avert this looming crisis.
I think that the main reason why the unemployed people over 55 (and sometimes even younger) are unemployable is because it's so difficult and expesive in spain to fire someone that job vacancies are scarce. I can't find any other explanation why perfectly experienced people can't get a job if they try.
Spain has a structural problem, so making people work a few years more will have no effect. A country with ~ 14% unemployment has to first sort that out. When labour market is at capacity you then import labour from abroad. And only after that, you look at increasing the retirement age, otherwise all you are doing is kicking the can down the road by shifting numbers on paper.
Edit: changed 'over 20%' to '~14%'
At the end of the day, people without Children have to pay way IRS or those who have them and a lot of them pay less or none at all, because at the end of the day, we pay for the pensions of the old people and ours will only be paid by todays babies, so those without children are acctually taking advantage down the line of those who have children, so they should pay more IRS, its only fair
@@Random17Game I disagree, we have to look at the crux of the problem as to why they're not producing babies. It's simple if you even give it a momentary glance. Most adults our generation have no hopes for the future, with declining birth rates, rising inflation, stagnant salary, lack of independence due to poverty conditions, affordable housing, unemployment and foreign immigration, lack of free training services are that afforded the seniors, increasing political tension and deterioration of the world due to global warming, unethical business and banking practices, misinformation/lack of transparency, increasing quantity of billionaires and leeches in the workforce despite the static or waning resources extracted, unerring presence of new and deadly diseases, etc, etc.
There are many coeval instances where most if not all are indicative if a widening wealth gap, a growing senior population, declining sciences, and a developing world where most countries are trying to achieve first world status. There are many mouths to feed, but little left to feed you or when you're old. Until the world economy equalizes due to the developing countries, wealth gets redistributed, or there is a third world war, I see little reason how paying more for the IRS will help.
@@acevaver5425 While obviosly it wouldn't by itself solve the problem it would be an important step towards a fair share because as I said people without children will down the line be taking advantage of those with children.
About the ''Most adults our generation have no hopes for the future, with declining birth rates, rising inflation, stagnant salary, lack of independence due to poverty conditions'' at the end of the day we are one of the generations with better standards of living since...ever and if you are living in the European Union (like I am) you on average have a better standard of living than the vast majority of people on the planet, and those on poorer countries have more children so it is a bit of an excuse
"Spain has a structural problem, so making people work a few years more will have no effect."
It would definitely have an effect.
"A country with over 20% unemployment has to first sort that out. When labour market is at capacity you then import labour from abroad. And only after that, you look at increasing the retirement age"
There's no need to order them like that. Doing one of those things won't prevent you from doing the others.
@@Random17Game I understand your point of view, I really do. Nonetheless, from my perspective, it's an illusion you were made to believe. While you might have more availability, options, and leisure, most of it come at a cost. If a vegetarian never ate or seen meat before, of course, they will glorify and defend their insecurity and doubt, same way we do for religion. What you eat today, is mass produced garbage- filled with harmful chemicals you can't detoxify, selected from sparse species of crops for ease of growth and pleasure of the eyes, imbued with little nutrition and taste in harsh conditions on little leeway for health without paying a premium. I know this for a certainty from three truths, 1. extensive travel to different countries, 2. eating food made for the rich elite, 3. visiting seed banks and growing crops naturally on a farm.
Secondly, the standards of living has gotten worse than it was for our parents or grandparents. While many were drafted for war- especially the US for WW2 and the cold war, your parents themselves were either the survivors or ones who were never enlisted. If survived, you were celebrated, if you didn't enlist, there was less competition due to many dying. When there are less people, the value of a single person is more remarkable, supply and demand. Our generation is hitting 7-8 billion, closing to 10-12 billion soon. And while we do have the convenience of computers and accessibility of information, we are also the only generation to have overworked as much since the age of industrialization. Even our grandparents would take occasional breaks during labor, ours is the one that is so deterministic and monitored.
Third, our generation is about the only generation to have been unilaterally diagnosed for depression and popping pills left and right. There has not been this much turmoil in the world since WW2, and these were political, not civil.
I'm sure I don't need to mention other issues like environment, disease, rent and housing, energy crisis, longer retirement age, etc. We are the generation who worse off than when parents were producing babies for survival due to the amount of death by disease, and even then, they were not as sexually frustrated as some men are today.
I can write a thesis on this and it wouldn't enough to convey the insurmountable tribulations compelled upon us today. Lets not even mention the height of educational standards, the impracticality of it, the price and discrimination, or the uselessness of a college diploma.
We all knew a big economic crisis comming to Spain when Professor didn't hand over the real gold rather than gold-plated brass 😛😛
That's very true! 😆
We has proven ( over and over) that $$$ isn't a problem: we can just add zeros to a number, press the button and... Voila!
This has happened to the big Corporations. Why not repeat the same formula and bail out the slaves that have worked a whole life contributing to this very " fair" system in which we are trapped in?
As a Spaniard living in Australia for the last 45 years and having still closed family links to Spain can see a few problems that unless there are fixed Spain state of wellness will continue to go downward:
Spaniards has an excessive number of public servants and politicians and a large number of aspirants
Importation of foreign labourers
Have a big black economy
Have a poor knowledge of politics and the Spanish political system
Weak judicial system manipulated by the politicians
Yes, I found the beauracrats to be excessive. How is Australia compared to Spain?
Bureaucracy creates employment, who doesn't want to join the Civil Service in Spain? (job security, very decent pay, and all you do it filing papers all day). I actually agreed with the big black economy in Spain, too many reasons to explain but one reason the Spanish people gave me is why give the money to the bureaucrats so they can pass onto their rich business friends.
After my 3 years in Spain I moved to work in China, another country with lots of red tapes. What we need is to de-centralize every government in the world to reduce taxes we pay each year.
Yep, everything is some else's fault. That the analysys most spaniards make and that why never anything gets solved. Reminds me of overweight people who blame genetics.
@@johnnyc5765 Well, burocracy only get's paid by extracting money from the private sector (it's the harsh truth and I don't mean by that I'm against it). It only creates employment by extracting it from somwhere else. If public sector was to compete in the private market and in complete equality, it would go bankrumpt.
@@dbh1cibai I agreed with what you said, and nearly always, these governments don't go bankrupt.
So, what's the difference between government and gangster? One is legal and one isn't.
I moved to Spain two years ago to work! I am 60 next year. I teach, so it can be stressful however, it is easier than in the UK. I like my job, and wish to continue to work as long as possible and my teachers pension from the UK begins in just over two years. I will draw on that fund to compliment my wage, but will be taxed on it.
The New Zealand model sound great, but it will depend on the job you do!
Governments that view the pensions of workers that have paid into their fund their entire working lives as a “burden” is the same as banks that view their customers as a “burden” when they come to withdraw their savings.
The government government pensions have been known to be unsustainable due to demographics since the 1980s. 30 -40 years ago, those who had the chance to vote in politicians who would restrict government excess and prioritize government surpluses chose instead to vote in those who promised more free stuff. The elderly will reap what they have sown.
I think it’s the other way around: money printing is actually paid by devaluation of pensions. Money printing creates inflation, which in turn is a “hidden tax” on all savings. When new money is created, the existing money is losing purchasing power.
Actually many pension systems or big parts of the system rely on the current workers to pay for the current pensioners, the pension payment is not like a bank savingsaccount/or personal fund. Obviously if the balance of the system is not managed well its a big burden.
@@kooskroos Many countries are using both concepts at the same time (2 pillars) Even when the young generations are financing the old generations, they have to come up with a certain amount, which is debased by money printing. The pension amount is not adjusted for inflation.
It's not that the government "feels" like it is a burden. It's a big problem because they just can not pay it back.
This is a world wide problem. The systems just need to be re-structured.
Solution: Soylent Green
@@prioris55555 That solves hunger but what about the rest of the problems? I think some fast food chains already use soylent green.
There's 2 majors problems bigger than aging of Spanish workforce:
- politicians corruption
- free press control (by economic power).
There're some voters pools were politicians waste most tax payers money (this also lower the retirement age).
The amount of public money thrown to big companies is larger than pensions problem.
Where is XXth century pension money gone? Some parties have something to hide about this (details? Not dificult to find).
Solutions: several but dificult to Spanish powers. To transform Spain to a democracy like scandinavian ones (but some people should face they can't become richer and richer as they do now).
Correct, scandinavian countries have lower fertility than spain so this video doesnt really make much sense.
It's a bit cultural too. People won't have children if they aren't married.
This happens to every western country,in Greece the minister said that in order the system to work either we cut pensions or we increase the age limit
That's just delaying the problem that won't solve it.
@@Greywind111 Increase the age limit to 80. It will solve the problem. Very few people will be getting their pensions.
I think workers that have been promised a certain amount should be paid but in the future pentions and benefits simply have to be pegged to an objective economic indicator agreed by all parties. This way insitutions are not stuck with obligations negatiated during good times.
@@wavemaker2077 in my country we have pensions that are 2.000 € 3.000€ and some are higher, while the basic wage is 600€... I think the pension should be a fix amount depending the country and if you can't live in the city with that money you should retire to the countryside where life is cheaper
@@wavemaker2077 hahaha
so I am totally down to move from California to Spain if u need help w the demographic collapse. either that or Italy ;)
Spain and the west are totally finished. This is what the Great reset is really all about. The west is bankrupt. Totalitarian poverty is on the way
I wouldn't go to another country I don't know, but california is expensive, and I would move to another state
@@nesseihtgnay9419 Go to Florida or Texas
If you have to work to live, Don't go!
@Micro Farming what do you think of Washington? I love the beauty of the pacific northwest
I have 2 young Spanish people living in my property who moved to the u.k 6 months before brexit. Hard working found good jobs in a very short time and constantly complaining about corruption in Spain. They were very pro u.k and pro brexit I was quite surprised.
I am sure they are good people, but beware, since the international view is that the uk voted for brexit, support for the ignorant self harming lunacy is often seen as a way to fit in. Reality will dawn as the disaster unravels.
Please Philip, keep them there.
@@enriquee.m.6706 of course I would never want hard workers to leave this country.
@@philipjones3599 of course after kicking out millions with Brexit, someone needs to clean your shit.
I’m Spanish and I live in the UK and basically did the same thing as they did. I highly doubt those two are pro brexit. Our problems are created by us and us alone, not by the EU
Great video. The 'demographic winter' problem is indeed a tough one. Put that together with an extremely high level of unemployment - and underemployment among young people and you have the perfect storm. Paradoxically, for a country with such an aged populace there is a remarkable amount of ageism in the workplace. The private sector is famous for forcing workers out in their late 40's and early 50's. This certainly needs to change.
True - Especially with the retiring BABY BOOMERS worldwide that is rapidly aging as we speak. Baby boomers were born from 1945 -1965 during the period when WW2 ended, which also happened in 1945. Also many soldiers were given their honorable discharge in late 1944 when they completed their 3 year tour of duty, and from keeping their troops from wearing out as well.
@@robertko5425 Many soldiers were given... but which country are you talking about? Spain did not fight in WW2.
@@robertko5425 The concept of baby boomer generation has been different in Spain, since we didn't fight WW2. Our baby boomer comes from 1960 to 1973 until the first petrol crisis, when the economy had recovered from our 1936-1939 civil war. Since we didn't get any Marshall Plan approval, our 40's were a complete period of autarchy, like current NK situation.
Yes, but it's important to note that while older folks are driven out, younger ones aren't contracted to replace them, or at least not with the wages and the modicum of job security they'd need in order to, for instance, move out of their parents' place and maybe start a family.
@@joschafinger126 You are absolutely right. Spain's minimum wage is the second-lowest in western Europe - behind only Portugal. And, good luck getting even that. Temporary, part-time, freelance workers - where almost all Spain's job creation is centered - don't qualify for even the minimum salary.
Health care is a racket. Way to much money is asked for compared to services provided.
How can you keep older workers employed when there are no jobs even for the younger ones!
It seems to me that you've trumpeted the bad news while pretty much ignoring the potential positives.
1) Reforms in 2013 set to raise the state pension age in Spain from 65 to 67 by 2027. The retirement age increased at the rate of one month per year until 2018. Thereafter it increases by two months a year. As of 2020, it stood at 65 years and 10 months. So your first point is already being addressed - I think that there has been talk of accelerating this transition but I doubt that Sanchez has the necessary support in parliament.
2) You skate over the issue of unemployment (and low wages for many young people in employment) - in 1999 the rate was 15.48%, and in 2020 15.67% (in between it's fallen as low as 8.23% and risen as high as almost 25% but essentially, in percentage terms, there's been no improvement in employment numbers). In terms of youth (18-24 year olds) the numbers were very slowly declining prior to the pandemic but about 20% of young people were NEETs (Neither in Employment, Education or Training). This leads on to the next issue:
3) Average earnings of young people in employment are low (in 2018 the Spanish National Statistics Institute calculated that the average Spanish millennial monthly salary as 943 euros ($1,074) for aged 20 to 24; 1,323 euros ($1,506) for aged 25 to 29; and 1,612 euros ($1,835) for aged 30 to 34. Compare this with monthly rents the same year - the average monthly rent rose during the first three months of 2018 to 1,025 euros ($1,167) - as high as 1,603 euros ($1,825) in Barcelona and 1,549 euros ($1,764) in Madrid. The result of this is that the vast majority of young Spanish people live at home - Spain has just over 6.8 million people between the ages of 16 and 29, and barely one million of them live outside the family home. This means just 14.9% live in their own independent housing. Now you don't have to be a rocket scientist to realise that if a young Spanish guy wants to get it on with his girlfriend, their opportunities are limited - with concomitant results for the birth rate!
So, you have a situation where, if the Spanish can increase the number of people in employment and improve the quality of that employment then a big chunk of the problem will be ameliorated.
As for your other suggestions - attracting old people to retire in Spain; "the Silver Economy" - Spain is already a European leader in this. For instance, there are currently about 381,000 British people living in Spain (the third largest group after Rumanians and Moroccans), most are old (median age is 54) and economically are perfect immigrants - those receiving UK pensions have their health care paid for by the British government (about €250M in 2018), those who have retired but aren't yet receiving a UK state pension are obliged to have Spanish private health insurance and relatively few compete with the locals in the workforce - and all pay IVA on most things that they purchase. On the other hand a lot of the jobs that directly cater to their needs aren't very well paid - care assistants, restaurant staff, shop assistants etc - essentially this is just extending the benefits of tourism to Spain to a year round model rather than just April-October but the taxes on their consumption do feed into the Spanish exchequer.
If Spain can achieve full employment then it's next source of labour would be immigrants - their former colonial possessions in South and Central America, the Philippines and Cuba would be a logical choice - these people speak Spanish (not Castellano but close enough) and live in countries that are struggling economically.
So it isn't all doom and gloom in Spain - certainly if you wanted to reform the country from top to bottom you'd have a struggle on your hands - but what country's leaders would be happy to restart with a blank sheet of paper and try to rebuild their government system and economy from scratch?
Why not take a look at Germany where Merkel has been kicking cans down the road for the last 16 years in the name of "stability" - including the needed reforms to the German pension system?
At least Spain has opportunities...
I currently live in Latvia (but I am not a native, but my wife is).
They have the same issue here (as do many other countries). But Spain has opportunities in my opinion. Latvia is simply doomed... A complete and utterly useless government that has not even started thinking about the insane issues they have coming the next 10-15 years (well, salaries are already hiking, so it has begun). All they focus on is putting out fires + how they can fill their own pockets while they are in position. Strategy and long-term planning is not exactly a strong point of this place...
On top of the low birth rate, and aging population/leaving the workforce, they also have hoards of people leaving the country seeking out opportunities in other countries like the UK, Scandinavia, Germany, Spain, and more.
Where the 2 other Baltic countries have been heavily focussed on FDI (especially Lithuania) and innovation (especially Estonia), Latvia is stuck in their old ways and going to get majorly f*ed very soon.
We are moving our businesses out of Latvia to Lithuania, Estonia, and Bulgaria (different businesses, different jurisdictions, for different reasons), and I am moving my family out of this place as well.
I do not run a big business, but we were always profitable (= taxes), I make more than the average joe (again taxes), I had employees with above-average salaries (taxes). I always paid the taxes as per the law, I never did any black business and I happily contributed to the economy. But now I have lost hope in this place, fired everyone, and am moving out. As a foreigner/ex-pat living here for almost 18 years, it all started on a very positive note - "The (3) Baltic Tigers" and all of that. Now there are 2 tigers left. I am not hanging around to see this country collapse. And the thing is, I am far from the only one... Businesses leaving, capital leaving, lack of FDI, aging population, declining birth rates...
If Latvia is not too small for your channel, I believe you could find some interesting numbers to speak to in a video. And if you go a bit nutters, you can of course drag in the geopolitical situation and draw parallels to what happened in Ukraine, as Latvia is the Baltic country with the highest Russian population (30ish % I think) and with 50% of the population in the capital Riga being Russian. They also have about 300 000 resident aliens who can get a special kind of Latvian passport that states they are Russian, not Latvians (meaning they need a visa to get into the UK, USA, etc), with no voting rights, but are still kind of citizens (albeit second rank citizens, and grossly discriminated). What happens to a country in dire straits with a Russian border, collapsing economy, skyrocketing gas prices, inflation, and all of that...? (Yes, I realize I am dragging this one a bit far, but I am sure NATO is thinking about it, and probably Latvia too since they basically sucking Brandon's d*ck to get more troops from the USA to their borders).
I realize this comment was long, inconsistent, and all over the place. I guess the shorts of it is, Spain has still opportunity, while Latvia is f*cked. :) Cherio!
What’s FDI?
@@MrDamon888 Foreign Direct Investment, basically investment in one country by a company from another country, outside investment into that country.
Somewhat similar can be said for my home country of Albania. The economy is good and life is better compared to post communist Albania in the 90's. New roads, a newly built railway, new hospitals, new apartments, but at what cost? In Kosovo we are currently having a power outage because we sold our electricity plants to an Italian company.
Now that company is selling our electricity to Italy. The government is at the mercy of the companies and we have to pay for the lost of productivity. Younger generations leave for Germany or Sweden, leaving hospitals begging the universities for doctors. Many doctors are not specialized in their work. Thankfully the Albanian mindset hates debt and we are not drowning. But the lack of jobs and outsourcing our best people is drying us.
It is embarrassing when your politicians go to Turkey and ask Erdogan for a new hospital.
I am watching my home country closely. An elderly population cannot be properly maintained in Albania due to low salaries.
@@sm3675 The society disincentivize you by making your life a misery. How can you put a potential child through that shit if you don't even have a stable job.
I don't know any people who make children for one time cash donation.
Why is he talking about Latvia. This here is on Spain
Politics is the root of all that's wrong with this country. Spanish society is heavily divided between left-right dichotomies and regional governments. On one side you get the left, lead by feminists and obsessed with progressivism for the sake of it; on the other side you get the right, lead by nostalgic nationalism and hate towards regional minorities; and then on another side you get the regional left, lead by both populism and progressivism, always in a defensive position towards the defense of minor languages and cultures (catalan, euskera). At this point it's basically a matter of picking your poison. It's this eternal division of mentalities that lead Spain into an endless cycle of horrible policies and got it stuck into a kind of cold civil war.
The biggest issue is definitely the low birth-rates, which you can certainly blame on both the economy and feminism, which is the cultural and social establishment right now. On the economic side salaries in Spain have been low and stuck for over a decade, specially for the young (under 35), there's rampant unemployment (at one point it was over 50% for youth 18-27) and housing is insanely expensive. We're forced to start our lives very late (30+). To this situation feminism is added, telling young women to focus primarily on their careers (which ironically is almost impossible) and teaching day by day that we supposedly live in a patriarchal culture that threatens all women with violence and discrimination, which is an insanely false narrative used as propaganda and proven false by any and all statistics.
The situation is terrible, every spaniard knows it, but everyone is so focused on obsessed in their political bullsh*t nothing will be done about it. And one day we will give up the country to foreigners, which will still not solve anything at all.
This sounds exactly like the US. Which is why after working until I was 76 I’m moving to a different country.
Politics is the root? Really? You can do better than that!
@@anthonykeller5120 Nope.
@@anthonykeller5120 You watch too much news or negative things man.
@@anthonykeller5120 I'm also from the US. While the culture here is messed-up, it's not extremely expensive. Move to the south or more rural settings. If you want to live in the city or in an urban area, move to Bali Indonesia or Mexico.
This is the fate that lies every developed nation, as things stand. Unless automated productivity saves the day, the entire concept of a pension and state-funded healthcare will have no choice but to disappear, people will have to work until death, and those with health conditions will have to be looked after by what family they have, or just be allowed to die with whatever dignity they can muster. It's an ugly future to be sure, but as Nikita Khrushchev famously said, "Economics is a subject that does not greatly respect one's wishes."
We've been living the high life thanks to the mirage of endless debt since World War II, but at some point this century that Ponzi scheme is going to collapse. Modern Monetary Theory is based on the concept of endless economic growth, and so when demographic collapse destroys that model, the end will come swiftly.
Exactly. Pension and healthcare for 20+ years for average person is unsustainable.
AndyW_UK
Don't worry...
Automation and AI Robots will save the day ;)
You have missed the biggest problem in Spain economy in the whole video: *AGEISM* . Specialized re-training??!?!?!? Ha! That's a complete myth.
For example, I was fired at 36, and I've been *unemployed* 14 years now because IT companies only want untrained youngsters who don't protest about their conditions or salaries.
A 10-year experienced engineer can only expect twice the minimum wage these days, while less experienced workers are even cheaper!
I live in Spain and I must be very lucky as I last changed jobs was when I was 50. I am a bilingual secretary and earn a lot more than twice the minimum wage in a big tech company where 80% of the employees are engineers, who, incidentally, earn a lot more than I do, so either I am very lucky or you are very unlucky.
@@EA-nu9lv Not really bilingual (at least regarding to English writing skills). And there was no need to show up how lucky you are and how loser is the person who you has answered. Not really a good person you are, neither.
@@RubenRodriguez-qo8vr So I am not really a good person because I rebutted his claims? I’ll ignore your assertion that my English language skills are below par, as your own written English is frankly abominable.
@@meadc6754 3 points:
1. I don't know if you are the same person who I've answered. I answered to @EA.
2. @EA didn't rebut anything. There wasn't any objective data. @EA described his personal point of view. Fullstop.
3. I've never said I were bilingual. You did it. And your English writing skill is awful. Next.
@@RubenRodriguez-qo8vr 😂😂😂😂😂
Possibly the problem is that many aspire to be civil servants or employees, instead of to get training to be self-employed or entrepreneurs (self-employment and to create employment). There are negative prejudices to what it is to generate wealth (psychological-cultural problem).
Well, you're partly correct. In addition, the government discourage the people who wants to be self-employed through big taxes as well. Spain isn't a business-friendly country.
Regards from Málaga!
I can tell you that it is mostly about the cost of having your own business: super high taxes, social security, cost of hiring and fireing an employee.
Yep, it's a cultural thing but historically not a bad decision. Also being an entrepreneur or self-employed doesn't pay in Spain
*Thanks for the knowledge.*
Amazing summary and proposals ! thanks
The problem of Spain’s social spending sounds disastrous but the truth is that the country has a lot of tax evasion and there is plenty of money held by its citizens that doesn’t show up in the fiscal outlook. Those people are keeping themselves afloat on personal wealth and a lot of employment activity also happens off the books. That also makes the unemployment situation better than it sounds.
From Madrid Spain. Agree with you in part of the problems is the "black" economy... but I think this economy is reducing simply because cash is disappearing and so is the opportunity to hide money in the normal economy.
Unemployment rate is also supported by a lot of retired parents taking care of sons and even grandchild... Spain , is a Mediterranean country and family plays a huge important role in social support...
Situation with age and employment is quite complex here... but the big problem is politicians hiding his head under ground to not to solve the problem...
Yes, black market is huge in Spain but I don't feel like many people are getting rich by this. Taxes are so high that if many small businesses had to pay what the law says, they would become financialy unsustainable and therefore they would end up closing.
In Spain it seems that only Moroccans (it is not uncommon to see families with more than five children) and Latin Americans are the only ones who have children. Passing in front of any public school in the big cities is like going in front of the UN
In Germany there are many neighbourhoods that look like Turkey,full of immigrants and many children. White people and Catholics will be a minority in the next century.
They are taking over and they know they come to take over!!
Very professional video. Thanks.
Excellent, informative video.
Continuing on with what New Zealand is doing we also have had the Kiwisaver scheme since 2007 which is essentially a government sponsored 401k that you get when you retire or to buy your first home.
Just let people and employees save together for peoples pensions. Letting the state pay it is insane.
Fantastic video
I’m from England. I bought a place in Spain in 2008. Since Brexit rules for moving to Spain to retire are getting harder. My wife and I are not quite at retirement age but have consolidated our assets , have savings , private pensions , private medical insurance and are in good health. I’m finding friction from the Spanish government to the likes of us retiring to Spain. It’s like the Spanish don’t want the money we wish to spend and the taxes we would pay. We would not be a burden on the Spanish economy. It’s like they are cutting their nose off to spite their face. We don’t understand why. It may change but I doubt it. I do feel that the EU are on a revenge trip against the U.K. for leaving and as such the small people like us are caught in the middle.
Yeah, but it's not just against the UK, I don't occupy local job, I could even provide jobs, I want to spend money here, but it's so hard, and all they want to do is toturing you and robbing you
@@yuyuewang6405 I really don’t understand the Spanish logic. They want investment and people to emigrate and generate wealth while at the same time put administrative bureaucracy in your way that eventually wears your resolve down.
This is the new EU agenda after brexit, trying to punish the uk citizens and companies, I guess in order to create some kind of power in the negotiations with the uk government on inmigration, trade, etc. Nothing personal against you or you money, wich our politicians would love to take from you. So you can guess why we are so screwed.
@@laurenceelliott9553 this new government we have doesn't want tourists or foreigners, doesn't want middle class, nor people who provide new employment, they only want to create new public employment for their colleguies, familly and people of their same ideology . It's complicated for me to explain it in english. Sorry. Un saludo from Spain.
@@isabelrodriguez6717 I can’t understand it. My wife and I love Spain are learning the Spanish language and we’re hoping to embrace the culture and give to the country rather than take. We have never been in trouble with the law and have always paid are taxes in the U.K. and Spain. I just don’t understand the continual hurdles placed in front of us. We will continue to battle red tape and hopefully come to Spain .
LMAO at the idea of getting elderly Spaniards to work longer. Don't they have 50% youth unemployment? There are either no jobs or there's insufficient impetus to get one.
The unemployment figure for young people in Spain is high, true. The real data for 2021 is 39.5%, not 50%. but it is magnified and is not even remotely as dramatic as is often exaggerated in the European press. Actually, this data is completely distorted by our ridiculous way of accounting for unemployment. Unlike the rest of Europe, in Spain all young people between the ages of 16 to 24 who are not working are counted as unemployed, including students, which is the majority of that segment of the population.
My 21-year-old nephew is one of those so-called "unemployed", but not because he can't find a job but because he studies engineering at university, lives with his parents and drives his own car, the same as my 20-year-old niece who is studying to become a dentist . At that age most young people in Spain are studying professional modules or university degrees, as simple as that. If you compare the data as measured in France, which has a youth unemployment rate of 19.4%, the data for Spain is 22%. Obviously 22 is greater than 19 but it has nothing to do with your 50.
After the currency crises, now this?! Spain used to be the king of the world!!! What happened?
It's been a hell of a long time since Spain was king of the world, as you put it.
You call yourself ikemen hahaha cringe
Slaves trade and Genocide of The American Indians gave them 2 century of wealtg. But that time is long gone.
It joined the EEC/EU...
@@kal77uk ah yeah, the glorious golden days of Spanish world hegemony before the EU. How I miss them. Late industrialisation, rural squalor, abused by European and foreign powers...
Worth watching just to hear Grant say "rapido" lmao
This is like getting your news in a disco club. A bit intrusive with the music.
I'm so tired of people constantly finding all kinds of work around solutions to this aging demographic crisis, it's always lets encourage more immigration and increase the age of retirement, everything you said here literally just kicks the can down the road or worse. If you genuinely want to fix this problem you have to promote social change by encouraging women to focus on being mothers than cooperate wage slaves and put more economic incentives for couples who decide to have children or something along those lines.
Unfortunatly it wont work due to the femz. 😂
It also reduce burden for men, competitiveness only among men
The problem here in Barcelona that I see are young people who can't find work that pays well enough to keep them on the job. Corporate stores are replacing all the Mom and Pop stores on our street that is famous for shoppers. Why would people want to get married and have children if their children can't find good paying jobs or take over their parent's Mom and Pop shops and try compete with big corporations that are now taking over all those shops.
There are ways to spur on growth but they would be very very controversial. Easing labour regulations for one, reducing corporate tax burdens, cutting bureaucracy governing business. All that should be done until there is at least a balance between regulation and growth - but the politics are contentious asf. This is why change usually only happens after there is catastrophic failure.
Sorry, but you forget the most incredible problem.
All the Spaniards with less than 40 years are working for a lower-paid than the pensions of the elderly.
I am working outside of Spain for 3 times the pay that I will have in Spain for the same Job... And I have a Ph.D.
Like me, are more than....(*) nobody knows because the country doesn't want to take account of all the Spaniards with university degrees working outside of Spain.
(*)In the USA, the Spanish consulate has a number of 150.000 Spanish nationals in that country, The United States Department of State says that is 800.000
Hi Juan, as a South African working on relocating to Spain, Spain as a tone of opportunities (much like South Africa), but for me the benefit of being able to visit so much history and European towns and cities. That is just some backstory.
Something I have noticed over the years, and ever since studying, is the lack of business skills training from universities - business skills training should be part of every degree, not just the business school degrees. The problem is magnified in countries like Nigeria, Cameroon, Uganda. There is the focus on studies to "get a job" but the economy doesn't provide "jobs" due to low small business development and the reliance on outside forces for employment.
I think countries should make it easier to foster small businesses as they carry economies.
@@fanjan7527 An exceptional answer, I think the same... the Universities don't give the knowledge to start a new project, or how to start a new business. And Spain doesn't have any policies to help to do it, In the country that I working and living in now, I am trying to teach those soft skills...
In Spain, because Spanish politicians are only working for the votes of the populations of 60+ years they will not improve the system.
Is very easy to start a new company in Spain, but it is only for you you need to pay as a contribution now 289EUR/month (at least)... from the first month that you are working on your own company.
I hope that you have luck in relocating to Spain, by the moment I will not go back.
The United States call "spanish" to the hispanic american people, not the european ones. They use the term "spaniards" for that.
that thumbnail is on point with the topic!
I've been saying for years that Spain is less a tsunami of problems and more like a perfect storm. Of course people need to work into later life but that's already a catastrophic problem in Spain. There is an army of aged incompetence in many professions, particularly in the state sector, who are too difficult to get rid of. Unfortunately, until they go they cannot be replaced and this is in a country with diabolical levels of youth unemployment. The national average is poor but, when broken down to regional level, it's appalling in some parts of the country. That's resulting in catastrophic levels of urban drift to find work as well as intellectual brain drain to other countries. Huge parts of Spain are resembling ghost towns. Despite local and national attempts to reverse this situation it continues at pace. I've travelled to these parts of the interior and seen it up close. It's hardly surprising that young men and women don't have children. Many will find low paid work in cities where property and rental prices have soared in the past few years.
Sweden, Japan and New Zealand are NOT Spain. No model of a tiny country like New Zealand can be replicated in an ancient and chaotic country like Spain. There are extremely limited employment opportunities in much of Spain. Nobody would employ anyone over the age of 60 and, even if they did, we go back to the employment queue adding to the youth unemployment. Besides, how many employees in Spain's enormous hospitality industry or boring civil service jobs will want to work until their 70's? No politician will ever, ever pass such a bill. Spanish politicians will never grapple this issue and I would recommend reading Paul Preston's recent book about the dreadful levels of political leadership Spain has always had to endure. It won't change and is on a collision course.
Agree 100%!
Do you think a RW government can save Spain
@@joeh2763 France and the nordic countries have more socialist policies than Spain. The failings of the Spanish speaking world is FAR more complex than that. You are looking at things through the narrow vision of an American right winger.
meanwhile property prices storm on to 8x 10x salary levels. its a shit storm. lol.
@@karankapoor2701 absolutely
Keeping old people working seems to be a good idea, but it will have it's drawbacks down the road, as there'll be less job opportunities for young people. If you have young people without jobs, they're less likely to have kids, and therefore 20 years latter, the demographic problem will be even worse.
Off course we wouldn't have this problem if the economies were growing significantly, and if we weren't replacing people with machines... but we all know this is not the case all over Europe.
I'm sure there are lots of people aged 65 or more that would like to continue working, many will actually do (and probably some of them should continue, because there are no young workers available for their job) just please don't make it mandatory to do so, by raising the retirement age.
This is a very complicated subject... Here in Portugal, I believe we have an even bigger problem than Spain
Just pull an America and start accepting more foreign labor in the country. There are millions of young Spanish speaking Latin Americans begging for the opportunity to leave that kleptocratic hell.
Spain already has the highest young adults unemployment rate in Europe so not much is going to change. 38% of young adults there are unemployed. Essentially a lost generation.
Yeah pro automation said that was no problem.
Less birth ->less human-> less problem of course less tax slave for goverment
Hail Ai, human are too outdate because they have too much demand.
How could people greater that 65 work, if they lose their jobs when they're barely 40 because of ageism in spanish companies? I don't know any 50 y/o person working.
When you force your old farts to work that means you have a inefficient and bad value system that doesn't care about passing the torch just money.
I think structuring the fitness industry around health for seniors can improve the longevity of this cohort. If someone retiring is given incentives to stay healthy through exercise this will insure their independence and keep them in the workforce longer. Build the industry around this need itself.
I'm sorry I've been here 10 years and keeping the elderly active is I'm sorry but ha ha ha ha ha ha ha ha ha ha ha ha ha ha what job where you thinking of in this heat plastering
I can ignore Spanish aging population but not yellow teeth of Host.......not even I try Hard.
Should we make a donation to solve that? Can't focus as well...
Like I'm the UK a good idea would be to force employers to enroll employees into a pension to supplement the state pension
Best thing our (Australian) government ever did was in the late 80s/early 1990s was forced companies to put a small percentage of the wages into a superannuation account. Everyone saves up for their retirement. It's not a perfect system (the poor don't get enough quite often, and our current right wing government keeps trying to sabotage it) but it definitely will help us in the future.
You watch our idiots vote them back in despite labor having a solid lead
:-( I know. We have no shortage of morons
@@b0zz1380y Didn't labor want to ban fully franked dividends and thereby increase the tax on superannuation?
@@firstLast-sn3me they wanted to ban excess franking credit refunds. I’m not going to go in to the nitty gritty of it but I would be almost certain that it wouldn’t affect you as you seem to be literate in the internet unlike the demographic it would impact.
Also labor wanted to put more funds in to TAFE, education as a whole, putting more money in to on shore r&d in various fields, tax breaks for the middle class, better environmental policies that were sustainable but the amount of people I saw banging on about mUh FrAnKiNg CrEdItS who didn’t have or have no intention of investing or self funding superannuation was incredible
Addition-superannuation which was a great idea was introduced by the Keating government in 91. Labor. But if you are worried about franking credits and not the proposed super gouge your priorities are sorely misplaced
Not when people use the cash to buy houses exempt from asset testing and go on the pension anyway.
Housing needs to be addressed otherwise it will just be all funneled into rent seekers hands and average people will own nothing.
Never thought I'd be considering Japan or Spain for a possible new home. I want kids and they need kids. Sounds like a win win.
Yes but what happens when your dead n your kids have to pick up the slack from the burden of age?
I dont think they will thank you for that
Another reason why there's no natality on Spain is because of feminazism. Good luck with Spanish women, my gest is you're going to end living in a rent room, paying for a mortgage for your ex-wife house and pension for the children you never see. If you're not lucky you're going to end in jail after a fake genre violence accusation. When a country is doomed never is just for one reason with obvious solution.
Japan is the obvious better option there. Be very careful if moving to Spain.
@@markus129 Yes, in Japan you can afford that 20m2 apartment. In Spain you will never own anything except a room in your parent's house
Good luck getting residency in JP.
Waiting for you to talk about the Chilean election, Boric and the future for Chile under Boric's plans.
do a video about portugal next
Create incentive for families to have children, retrain the older work force for more desk oriented work, alter gov spending to aim more care for an older population.
Which will inevitably lead to even lower birth rates. Why? Old people begin to hold on to decent to high paying jobs even more than today, making the young postpone or outright abandon maternal plans on the count of not being able to maintain a home (eg either own through mortgage or pay rent). The only way out of this europe wide is to deny the elderly their pensions. As brutal as it is.
Socialism has done it. There you go: countries with massive public spend, people choked by taxes ans regulation... Welcome to the Western European Socialist Sovietic Union!
We need more robots, not working untill we die
Sounds easy but Spain is not New Zealand. It won't happen. Very different culture.
@@javiermaleno8215 no western country is socialist, take your red scare bs somewhere else
It would be interesting a comparison video between italy and spain. Beside being quite two similar countries they are based on quite different economic models
I think you are completley overlooking the political crisis that Spain will undergo sooner than expected. This will be way more severe than the aging of the population.
Interesting, but there's too little information over a too long video and Grant repeated himself more times than Argentina asked for money from the IMF. It made me tired. You could've done this video in 1/3 of the time or alternatively, elaborate about Spain's strategy of receiving immigrants, automated technology solutions and how exactly does it affect the EU (you never answered it). Also, this problem isn't unique to Spain but to the whole Western world. So do they have some joint strategy or something?
The person who's responsible for the imminent crisis is... The Professor from La Casa De Papel! xD
Best way to sort this out support family’s
Good news 👏🏻👏🏻👏🏻
Here is an idea. Make the seniors work if they are able while collecting pension. And don’t claw back what they earn on their income from their pension.
Forgot to mention a "little detail" that is Spanish fast development was only possible due to EU coesion funds - Spain was by far the country who had received more funds then anybody else.
España perdió más al entrar en la UE,nos exigieron desmantelar la industria,pienso que fue lo peor que hicimos,más valiera haber conservado lo que teníamos y avanzar en las exportaciones,la UE no nos benefició,al contrario ,los fondos que nos dieron hay que pagarlos y a qué precio?.
@@mariaamparo9781 está completamente equivocada! Os fundos da UE são a fundo perdido, ou seja, não são para ser pagos!
@@mariaamparo9781 Pagar a la UE ? jajaja Por el contrario el dinero gratis promociono la ideología socialista y haragana que domina a España.
It's the same in Italy, Greece.
You mean "rápidamente" since it would be an adverb
Frankly all nations need to work out how to deal with a non-growth economy. You cannot forever depend on more kids and immigrants to support a growing elderly population. Eventually they become elderly and what do you do then? More immigrants and kids your land an resources cannot support? The world is overpopulated and struggling as it is and population growth threatens our ability to deal with Co emissions. Frankly each extra person is a threat to the climate by emitting more CO2 you can either have a sustainable population thats stabilising or a growing population based on the economic growth forever model and destroy the Earth eventually killing us all , we need to learn to work with the population we have and stop talent stripping poorer countries as the west since the promote immigration policy is basically just robbing developing nations of any chance to develop.
It's not overpopulated.
TEETH!!! My dude needs to get a toothbrush, I'm sure he makes enough money. 🤣
Yeah it's amazing how unhealthy he looks. Well groomed and yet unhealthy. It's like he grew up in the 1300s, time traveled to today and hired a fashion designer... but skipped the dentist... Amazing.
I personally don't think you would find it easy to insist people work longer in Spain...the work ethic from my point of observation in Spain is to say the least ...laid back....!!!!!!!!!!!!!!!!!! Good luck to the people with the job of retraining
Laid back indeed...hence the longevity? Lol
I thought the video was not realistically describing Spain.
The movie Logan's Run offers an interesting approach 🙃
As a Spaniard, I wish I lived in that country shown in the video...
Are you saying that there was no crisis between the dept crisis and this one in Spain? 🤯 nobody told me
I worked for 55 years in the UK having retired in August 2021 at age 70 years and 8 months. I understand the problem .... !
Young people of Spain ,Italy and Greece are moving North to work. While old people from the North are moving South ro retire. This is the new european Union.
The next twenty years will be the litmus test for many nations facing demographic challenges (Japan, Korea, Italy, Spain and in a different context, China).
The economic forecasts, however, do not entirely anticipate loss of jobs to automation in services and the sheer amount of "bullshit jobs" that we can easily do without. Yes, reforms in social services would be prudent and unpopular and it would massively effect GDP growth, but even that is an increasingly contentious metric for economic performance.
In the end it may turn out to be a boon to have a smaller labor force in an increasingly automated job market...
Peter Zeihan has been outlining this for over 6 years in his books and presentations.
this is what hsppens when you bite the hand that feeds you
So could it be that the data is skewed due to retirees from all over Europe coming to Spain to enjoy their last years and who actually bring capital to the country? An old population with foreign money, paying taxes and spending foreign money would, hypothetically, drive the economy rather than being a burden. Just asking...?
Foreigner retirees don't pay their taxes here. Where did you get that from?
@@BlackHoleSpain I was referring to foreigners living in Spain and they do. They pay a part of their taxes on their pensions in the country they come from, typically between 7% and 15%, and the rest they pay in the country they live in, which would be 🇪🇸. They also spend their income in the countries they live in, many purchase real-estate generating jobs and additional taxes as well as paying VAT on everything. Wealthy foreign retirees are thus probably a pretty good source of foreign capital for Spain.
We have too many taxes and regulations
...and corruption like alot of other southern states.
Aging population might be a problem but the real disaster in Spain actually is the privatization of its structural enterprises like Endesa.
Your comment is absolutley worng. Private companies are better managed than public companies. To generate jobs you need private companies making profit. Don’t be a dreamer.
@@javierechevarria1548 tell that to the spaniards who are paying 500% more in electricity since Endesa was sold. Iberdrola, fenosa... all of them. Markets have proven incapable of controlling themselves because the focus of a private company is to maximize profits, not the wellbeing of an entire nation. We’ve seen this all over the world: when human rights (like the access to water, electricity, health, etc.) get privatized they stop being human rights.
@@RafaReyes Venezuela is a good example of all utilities being owned by the goverment. It is a complete disaster.
In Spain, we pay a high utility bill because of the goverment decisions. The ordinary consumer pays, 20% VAT, we have a surcharge to fund the electricity cost in Balears and Canary Islands. In addition, we have another sur charge because the goverment decided to close the nuclear plants and we have to compensate the companies that invested in the nuclear planta, etc. The gas price is so high because we upset Morroco and they decided to shut down the tube so we cannot buy gas from Argelia.
@Rafa, please, educate yourself before you make high level statments wirh no content.
@@javierechevarria1548 in Spanish we call that “maromas” and you’re going to hurt yourself, child, trying to excuse those who have raised your electricity bill 500% in the last 3 years. “...educate yourself...” insolente y torpe.
TL;DW-the population Ponzi scheme is failing in Spain
Can you do a video on New Zealand that would be awesome
Don't u worry about social security deficit, the fines, beauracracy the never ending sanctions on autonomous will cover those. Being an autonomous with small business here I feel I am working for the last 10 years just to pay the never ending taxes and fines. And not to forget the mistakes made by the solicitors while making tax returns make us liable to pay taxes. The solicitors get a clean chit. I am tired of paying those tens of thousands of euros which pop up here and there as multas.
You also assume that these countries are equivalent in terms of how efficiently they manage the place. Big mistake. In Spain it's never a question of finding a reasonable solution and implementing it. Comparing Spain with New Zealand is utter nonsense.
Its almost like he is not an economist but "researched" this subject from buzzfeed...
What a bunch of crap.
Youth unemployment in Spain is sky-high. Why in the world would you push people to go keep on working after 65 when people in their 20's can't get a job?? (unless your Jeffe Bezos, this makes no sense at all)
Spanish in his 30s here. Agree with everything. On top of that jobs are very scarce and very unstable. Most good jobs are keep by those 45 and over. My high school friends feel stuck, I’m thriving in Sweden.
Como española y pensionista,jubilada,en España no se vive nada de mal,la vida es barata...
Y si trabaja una pareja aún mejor,la Sanidad muy buena y si,realmente se necesita población,hay pueblos muy hermosos que dan hasta viviendas para vivir allí y ayudas...
This guy really needs to brush his teeth more often.
In 330 years Spain invested billions and billions in Dapilipenis. See how well developed it is now.
I was worried about this at the start, talk of "aging populations" and "rising pension costs" crises make my skin crawl, because terms like that, and others like "insurgent", when you use them you're using fnords to obfuscate the underlying conversation you're trying to avoid about the cost of a human life. But, the model presented here, as long as it's well tended, well funded, and permitted to grow I think does wonders to provide people much-needed opportunities to determine for themselves how they spend more their advanced years. I would wish nothing less for anyone. Here's hoping.
The main component is missing here: The pension model needs to be shifted towards one where the working population put enough on the side to pay for their own retirement.
Day 5618. Still waiting for this channel to make a non right leader fell with the nuke.
Ita almost like...ah never mind they sait they are left. Wish we had independent channel.
better to abandon the state and put your own money away off the system
In Spain you have no choice, government takes 29% of your salary for pensions, you have no choice government decides for you. The solution is to pay more? We already are one of the countries in the world who put more percentage of the salary in pensions. The problem is that the system is public, Spain is a lefty country who loves everyone public. An usually due to mismanagement, corruption, politics ... public systems end being super expensive and unaffordable.
@@robertogaleno5920 all the old people own all the property. they dont need my money, they can sell right ?
@@888ssss they have rights, the problem is that you can't take by force a person 29% of his salary all his life for retirement and when he has 67 told him it was a joke, no money. It's not fair but is what's going to happen and social revolution s star for less. The people who has paid por 40 years or more have rights and now are confronting the bigger scam of his life at an age that very little can you do. So when the system collapses something similar to Greece is going to happen. No, to stole people is never a solution, and they're not going to embrace that. That people has rights deserve to obtain something for all the payments they've done.
All Europe countries need to start employing young people easier and make their living standard better to determine them having kids. It is so hard for someone young to be hired that is forcing them to stay in forever useless schools until they are 30 then built on a decent wage until they are 40 and infertile.
That’s probably really good for skilled labor.
As a spaniard, hats off to this video!
I've lived in Spain. Been hearing about economic implosion for awhile, especially since 2007. However the country keeps getting wealthier and wealthier. It now has 300 million billionaires per Capita. Making it the wealthiest country in the world by far. Can you guys explain this in your next video. Also explain how Spain barely escaped economic doom of banking system and deficit Cliff scaremongering in 2007, because it baffles me. Thanks 👍 guys
Exactly! British economists have been predicting the collapse of the Spanish economy since they joined the EU back in the mid 80's. Funny how Spain has just kept going from strong to stronger.... isn't it? What this tells me isn't about how Spain may collapse (yet again, yawn!) but just how terribly BAD British economists are.
What???
Alan, in which Spain did you really lived? It´s really the opposite of your fairytale. In Europe Spain is a leader in unenployment, youngs fly away.
@@DiegoArtolaCopywriting Unemployment in Spain is different to elsewhere Diego. In Spain people can actually live off of their unemployment benefit.... indeed many times the actual unemployment benefit is the same as their salary was, or higher even after factoring in they no longer to pay fuel or transport costs for getting work. This is not the case in the majority of EU countries. What this means is many people actually use unemployment like a holiday, a break, etc. Most don't even start to look for another job until "after summer" and take things with "tranquilidad". This means that unemployment figures are always inflated. The real problem is long-term and youth unemployment, those who are over two-years and start to claim social benefit. The level is high, but it isn't the highest. Retraining programmes are limited and mostly ineffective, with promised job-banks upon completion in reality are non-existent.
@@garyt.8745 It's not that true. There is a great black market, most spanish enterprises are very small, there is a great group of freelancers, and self employment. The labor costs, through all kind of taxes, don't allow these tiny business to grow and to hire.
By the way, Spain is not any more a cheap country, the cost of living is very similar than that of the neighbour countries. The electricity is really expensive, for example.
@@DiegoArtolaCopywriting You are missing the point. Unemployment benefit in the UK, for example, is the equivalent of €53 / week. So €212 / month. Compare _that_ with Spain's capped €1100 / month. The difference is twofold, 1) you can't live off €200, so one is highly incentivised to find ANY job ASAP, and 2) it is forever, not limited to 2 years max like in Spain (or whatever time you have been paying into the Social Security system). This is why Spain's unemployment is different.
Electricity is really expensive right now globally. Not because Spain is expensive, but because Spain, like most right-wing European countries, is a free market economy. No government intervention at all. If you think the Spanish government should pull the energy companies "into line" regarding pricing then you must be a raving left-wing communist. Just saying...
Half this video was about making old people work while the extremely obvious solution of immigration only got a brief nod?? Latin America is a ready source of Spanish-speaking immigrants at all skill levels. Much of Africa is desperate to get into Europe and work. Much of India will succumb to climate change in a few decades, forcing millions of their cheap and partly educated labor force to flee...
Spain already has the infrastructure: all it needs to do to juice their economy is open the doors a crack! No need to put the elderly to work when there are youngsters just outside who are ready and willing.
I though that too, but realized the uneployment rate is 23%. Maybe they have to do sth about that first.
You assume that millions of immigrants won’t have a negative effect. It depends on how effective you integrate, which Spain probably doesn’t so that well. Recent immigrants have to want to be Spanish, not just work for a check.
Spaniards remembered the last time they let foreigners in, it lasted almost 700 years of occupation, thus they are very reluctant on allowing that many immigrants to their shores.
A better solution would be to generally get society to have more births.
In Spain youth unemployment rate is 40% and average unemployment rate is 15%, we don't need young workers or inmigrants, what we need is to get rid of socialism so we can work and thrive. To form a family and to have children is very difficult without a job or money.
Topic is not open ! Very little info for such important topic:-) we need part 2 or maybe even part 3. Thank you
I somehow want to visit my dentist after watching this video.
Spain should encourage immigration, possibly from Latin America instead of retirees from the UK.
WHY!! THERE NO JOBS
@@rogersan4352
And that is a seperate problem worthy of a separate video.
There won't be a simple silver bullet solution. Any solution will need to be holistic.
It is not necessary to promote immigration from Latin America because they already reach millions without being called. Spain has a similar proportion of Latin American immigrants to that of the French of Africans.
Thank you for the interesting video. Spain has good ties with its former colonies and this could be the best option for both. Spain is sitting on European technological know-how while its former colonies have younger and faster growing population.
And the Spaniards migrate to other countries for a better future
Contamos más con poblaciones Hispanas para repoblar España,somos de la misma Cultura y Religión,ese es el programa de Vox,no meter a tanto Mulsuman en edad de coger las armas,esto a la larga nos traerá problemas,no solo a España sino a toda Europa,en Fin...ya veremos qué pasa....
@@mariaamparo9781 Le recuerdo que España ha sido un país de emigrantes, más del 50% de forma irregular. La gente no se va de su país por gusto, sino por necesidad.
No tengo nada en contra de los inmigrantes, provengan de donde provengan.
@@aleygeneration405 pues existen migrantes que aportan y otros que no. Esos seguidores de la ley Sharia no traen nada bueno a Europa.
@@mariaamparo9781 Uy sí es una bendición llenar aún más España de latinoamericanos… solo mira la noticia de un chaval asesinado en Madrid por esas bandas de importación. No gracias!
No se pagan pensiones porque haya más gente pisando suelo español, se pagan con trabajo. Por tanto, con un 15 % de desempleo y más de un 40% juvenil, no tiene sentido que siga llegando mano de obra barata de latinoamerica. El argumento de que son preferibles a los musulmanes no es suficiente
if they have massive unemployment among working-age people, this sounds like a self-solving problem.
People in New Zealand are NOT WORKING BECAUSE THEY WANT TO. They are working because they have to, their pension is not enough, thanks to inflation. The same is the story in Australia.