No, you can't retire at 53
Oaktree's Howard Marks posted an excellent discussion of the state of government finaces (including international, federal, and state problems). Here's a paragraph:
"In April, as the problem began to unfold, I heard a Greek taxi driver express his worry on the
radio: 'I might not be able to retire at 53,' the average retirement age. How can it be rational
for a nation with a limited economy to enable its citizens to retire at age 53? Well, it isn’t.
Greece was able to outspend its revenues for years because it benefited from the 'reflected
halo' of the E.U.’s financial strength and low euro-related interest rates."
That pretty much epitomizes the world's financial challenges: People wanting something they can't afford, and expecting the government to provide it with borrowed money.