Skip to comments.A Generation Of Old People Is About To Change The Global Economy
Posted on 04/27/2014 7:52:15 AM PDT by blam
A Generation Of Old People Is About To Change The Global Economy
Apr. 27, 2014, 9:22 AM
In the 20th century the planets population doubled twice. It will not double even once in the current century, because birth rates in much of the world have declined steeply.
But the number of people over 65 is set to double within just 25 years.
This shift in the structure of the population is not as momentous as the expansion that came before. But it is more than enough to reshape the world economy.
According to the UNs population projections, the standard source for demographic estimates, there are around 600m people aged 65 or older alive today. That is in itself remarkable; the author Fred Pearce claims it is possible that half of all the humans who have ever been over 65 are alive today. But as a share of the total population, at 8%, it is not that different to what it was a few decades ago.
By 2035, however, more than 1.1 billion people--13% of the population--will be above the age of 65. This is a natural corollary of the dropping birth rates that are slowing overall population growth; they mean there are proportionally fewer young people around. The "old-age dependency ratio"--the ratio of old people to those of working age--will grow even faster. In 2010 the world had 16 people aged 65 and over for every 100 adults between the ages of 25 and 64, almost the same ratio it had in 1980. By 2035 the UN expects that number to have risen to 26.
(Excerpt) Read more at businessinsider.com ...
In the end, it boils down to how can we get rid of the baby boomers and still keep the cash they have saved?
Income 'distribution' is a euphemism for 'redistribution', bleats about a 'skilled-old' population ultimately translate down to "what does this mean to how we've so poorly educated our young for?" and the like. The ultimate self-interested conclusion is not blame ourselves, but blame others. Yeah, those older workers are more skilled, but we want more money, too. They shouldn't have it; we want it. And, we don't want to go through the real process by learning and working hard to get it honestly
Wise folks saw this coming 30 years ago. One of them told me not to expect to collect any SS.
“And, we don’t want to go through the real process by learning and working hard to get it honestly”
Ah, come on....Our grandchildren can do each others laundry while others shine each others shoes,etc etc in the wunerful Service Economy of the future....
Maybe Ol’ Jim Rogers got it right—Buy Farmland and learn how to plant/harvest...won’t solve the problem of the starving paying you a visit however....
If I ever live long enough to teach my grand daughters to shoot like I have my daughter, I’ll do that.
They’ve already been with my daughter and me to the range on ladies day. They sit in the ‘gallery’ and cheer her on.
Aside from that, I always ask them about school, what they learn, and what do they think about it whenever I see them.
This may sound intuitively obvious but its a dubious assumption. From personal experience, I have seen in the work place far too many educated people who are often inclined to promote and engage in unproductive, time consuming and wasteful activities. They tend to favor endless meetings, lots of studies, and mountains of paperwork. Many of these activities are self-serving in nature and designed to improve one's visibility. In general, empire building is the hidden agenda.
Exhibit A is the federal government. There are unquestionably lots of educated people working in the bureaucracy, but it is hardly an example of a productive enterprise.
The ole somethin’ fer nothin’ routine. Easier to take than earn.
I started collecting at 62 despite the "penalty" for early retirement.
The SS literature on this subject is very deceptive. They do not take into account interest rates, or rate of return on any savings one may have.
If you can get ~9% on you money (at the lower end of stock market returns), your will never break even, by deferring to a later retirement date, on the total amount you receive, no matter how long you live. Plus, it is politically impossible to reduce SS payments to an individual once they have started collecting the money.
Of course now the early retirement ages have increased, but most people are better off to take SS as early as possible.
I’ve done my best to survive financially
and know I wont survive physically
but am comfortable with the spiritual investments I’ve made
Not in the Muslim world kiddies. They are squirting them out in wholesale lots and will have significant population authority in many western nations in less than two more generations.
There’s going to be a lot less lawns for children to freely walk upon. And they better pull up their pants, turn that ballcap around, and turn down that blasted music as well!
I don’t think war is having much of an impact at all in those populations; when you look at the number of deaths annually versus the number of births, they are a drop in the bucket. Those countries still have huge populations under 20 years old, and they are even exporting them here.
Hence the need for zer0’s death panels.
“From personal experience, I have seen in the work place far too many educated people who are often inclined to promote and engage in unproductive, time consuming and wasteful activities. They tend to favor endless meetings, lots of studies, and mountains of paperwork. Many of these activities are self-serving in nature and designed to improve one’s visibility. In general, empire building is the hidden agenda.”
Those are educated people who think they are above “real work”; while they can make good money doing it, when the stuff hits the fan those are normally the first to go (high salaries with no performance metrics or real job descriptions). I think many of them were the “middle managers” that lost their jobs over the last few decades.
Starting in about 2025 there will begin a mass die-off of us Baby Boomers. The wheel turns.
The author failed to factor in Obamacare, which will eliminate most old people.