Working age populations are in decline in Japan and Europe and the growth of the wage earning population is slowing sharply in the US.
A stable population requires that on average 2.1 children are born for every woman. In the US the rate is currently only 1.9 and it is just 1.5 in Japan.
Besides the devastating effects of less cuddles, the combo of fewer taxpayers and increasing retirees is toxic.
The baby-boomer generation has accumulated a huge amount of government debt and hasn't had enough children to help ease the fiscal burden for future generations.
Migration is the logical economic solution to help re-balance the replacement rate. Yet immigration is -unfortunately - more unpopular than ever.
Weekly Update, week ending March 22, 2019 The S&P 500 was down -75bps even as the Dow Jones lost -1.34%, the Russell 2000 decreased -3.05% and the Nasdaq lost -51bps.
As for US bonds, they added 85bps.
Globally, the MSCI World Index lost -63bps and the Barclays Global Aggregate Bond Index increased 95bps.
The Euro Stoxx 50 lost -2.31% in local-currency (Euro) and -2.50% in USD. Meanwhile, the Topix was up 91bps in local-currency (Yen) and 2.24% in USD.
