2. Havoc on the Highways
Traffic in the US is neat and orderly. Cars wait patiently in their lines. The frustration is there, but it’s all bottled up inside. Not here. Here it’s worn on every cab driver’s orange Trome sleeve.
I’ve seen drivers get out of their cars to yell at traffic cops for poorly directing the flow. Picture that in the US. Almost weekly I witness a car being towed by a piece of rope. A bus I was on actually hit someone once! Exciting! Where else are you going to get those free thrills?
3. A sustainable pension system
Political things polarize, but math cannot be denied. One day, the Social Security fecal matter shall hit the proverbial fan. Either that or we go into a debt crisis trying to pretend it won’t. I foresee no such issues in Peru. Here, pensions are privatized and funded directly from your salary with a 10% deduction each month. That 10% is tax free.
While banks get an additional piece out of your paycheck, it’s minimal. Those rates continue to drop as companies compete to get exclusive rights to enroll new accounts every few years. The system is beautiful. The exclusive period ensures that all banks can share the profit, and (more importantly) the risk. It encourages new companies to come in, and it’s a big part of why Lima is a major financial hub today.
I’ve got more saved for retirement than the median family in the US. So it works.