As my readers know, one of my pet peeves is people who argue that demographic changes will lead to catastrophes, be it higher inflation or the implosion of our social safety net. I could write every day about why these projections are typically not worth heeding for investors, but that would bore my readers, so I tend to space these articles out and limit them to max one a month to give everybody a rest. But now the rest is over, and I can pick up
Gosh, Joachim. I take your point, but this comes across like a pretty blasé acceptance about the social wellbeing gains of the 20th century safety nets being wiped away. Relax, the economy will be fine, so long as everyone dies on their feet. I see this every day in Singapore with 80+ year olds working for poverty wages. The billions in tech tax avoidance and trillions of wealth salted away in tax havens suggests that this perhaps is not a necessary or welcome outcome.
Gosh, Joachim. I take your point, but this comes across like a pretty blasé acceptance about the social wellbeing gains of the 20th century safety nets being wiped away. Relax, the economy will be fine, so long as everyone dies on their feet. I see this every day in Singapore with 80+ year olds working for poverty wages. The billions in tech tax avoidance and trillions of wealth salted away in tax havens suggests that this perhaps is not a necessary or welcome outcome.