From Bruce Krasting:
There's one economic variable that's highly predictable; demographics. In all of the industrial countries, the aging population is now weighing on the economic outcome. Japan was the first country to go down the tubes from this phenomenon. Europe is behind Japan, but rapidly catching up.
The U.S. has a huge headache with an aging population. The number of oldsters is big, and rapidly rising. Add to the size of the aging U.S. population the fact that the promises made to these people are enormous. Other countries, like Canada, Russia, and even China are struggling with the problem.
The U.S. is in now in year three of what will prove to be a 20-year mega-trend of an aging population. These facts have been know for a long time, I'm amazed that the U.S. has been so slow to come to grips with the implications of what is clearly in our future. Thanks to the fiscal-cliff debate, the financial implications of the graying of America are now being discussed, and Washington is talking about "solutions."
So what are the solutions that the deciders are zeroing in on? Simple. The proposals (and what we will get) are...
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