SoylentNews is people
SoylentNews
It's only appropriate that the country with the $40 trillion ponzi financial system and where a broke pig farming company paid its creditors in bacon, only to run out of pigs, has created a pyramid scheme that involves literal pyramids.
Authorities in China’s capital are investigating two companies selling "energy pyramid" products using such illegal practices as fake advertising and multilevel marketing, The Beijing News reported Monday.
According to the outlet, police in Beijing’s Fengtai District launched an investigation with the national-level State Administration for Industry and Commerce on Monday to look into the products’ manufacturer, Weihai Ruihong Energy Technology Co. Ltd., and distributor, Beijing Hongzheng Technology Co. Ltd.
The companies allegedly advertised their pyramid-shaped wares — priced between 5,000 and 100,000 yuan ($740 and $14,900) — as having “healing” and “energy-absorbing” properties, and like any other pyramid scheme, attempted to recruit salespeople into a multilevel marketing operation.
Only In China: A Pyramid Scheme Involving Actual Pyramids
(Score: 0) by Anonymous Coward on Sunday April 14 2019, @06:38PM (1 child)
> Either benefits get cut or the age of retirement gets a big bump; maybe to 80.
I turn 65 this summer. Wasn't planning to officially retire and start social security for several more years, since I'm healthy (not quite as fit as I'd like) and happily working. Maybe I should consider the above in my retirement planning?
Anyone else in a similar position? What are your plans?
(Score: 1) by r_a_trip on Monday April 15 2019, @08:24AM
I'm Dutch and we already had the age bump. It went from 65 years of age to a little shy of 70 years. Since I'm not remotely at retirement age, I will have to factor in that I will have to work till I'm 70. I can only advise to get out at the earliest time you can, before a scribble of the pen either lowers your benefits or elevates your working years. As a pensioner you could always take a "secondary" job.
Age bumps are more likely than the lowering of benefits though. Lowering benefits tends to bring about protests. Bumping the age is less contentious, because most people don't realise they do that in the hope that you expire before claiming benefits.