Thursday, August 30, 2018

Genieße den Kapitalismus: 48% of German pensioners earn less than €800 per month

Even in the European Union's economically most powerful country, Capitalism shows its rotten, barbaric nature. 

More specifically, as Deutsche Welle reports, poverty towards Germany's senior citizens becomes more and more threatening, as long as almost half (48%) of the country's retirees earn a pension of less than 800 euros per month!

It must be noted that the poverty limit in Germany – the monthly net income that someone must earn in order to be considered as “poor”- is 958 euros/month. 

According to recent report by the German Ministry of Labour, 62% of the pensioners gain less than 1,000 euros per month. Single women, low-qualified workers and long-term unemployed people face the highest risk of ending up in poverty in old age. According to a study in 2017, the poverty rate among women will rise from about 16% in 2015 to 28% in 2036.

The above data present and increase in the gap between rich and poor in Germany. Assets are also very unevenly distributed in Germany. Around 10% of the population owns 60% of the assets, while the lower 50% of citizens have just 2.4%.

Apparently, the notorious "blooming landscapes" that Helmut Kohl was promising to the Germans after the fall of the Berlin Wall were nothing but a deception, leading to a constantly worsening capitalist barbarity...