And the good news is. . .? "lepers with the most fingers"
Spengler stares reality in the face:
"In 2010, 24% of the people of the developed countries were elderly dependents. By 2030, that figure will rise to 30%, and by 2040 it will rise to 42%. The demands on public pension and health systems will be enormous, especially in rapidly-aging Europe and Japan. Taxes will rise drastically to support the retirees, which means that after-tax income will fall."
He looks for some good news:
"America, Canada and Australia are the lepers with the most fingers. They are the only industrial nations worth investing in for the long term, but demographic decline in the rest of the developed world will affect them as well. There will be fewer people to buy American exports, and fewer suppliers of new products from overseas."
Read on. Spengler is always worth while.
Thanks, David.
"In 2010, 24% of the people of the developed countries were elderly dependents. By 2030, that figure will rise to 30%, and by 2040 it will rise to 42%. The demands on public pension and health systems will be enormous, especially in rapidly-aging Europe and Japan. Taxes will rise drastically to support the retirees, which means that after-tax income will fall."
He looks for some good news:
"America, Canada and Australia are the lepers with the most fingers. They are the only industrial nations worth investing in for the long term, but demographic decline in the rest of the developed world will affect them as well. There will be fewer people to buy American exports, and fewer suppliers of new products from overseas."
Read on. Spengler is always worth while.
Thanks, David.
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