Authored by Chris Hamilton via Econimica blog,
Just three charts putting things in perspective...
Chart #1: three periods and four variables (total US energy consumption, 25-54yr/old US employees, federal debt, and federal funds rate %:
1950 to 1975
- +43 quadrillion BTU's of energy consumption
- +15 million 25-54yr/old employees
- +$0.3 trillion federal debt
1975 to 2000
- +19 quadrillion BTU's of energy consumption
- +45 million 25-54yr/old employees
- +$5.1 trillion federal debt
2000 to 2017
- <-3> quadrillion BTU's of energy consumption
- +1.5 million 25-54yr/old employees
- +$14.9 trillion federal debt
Chart #2: Annual 15-64 year old population change versus the market weighted value of all stocks actively traded in the US.
Chart #3: Breaking down the growth of the working age population, per ten year periods, versus the growth of the Wilshire 5000.
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For the minority that are asset holders, this should be great news as the now declining working age population is the cause for outright centrally driven hyper-monetization domestically and globally. Market valuations previously undreamed of will be achieved in the "new depopulationary normal".
For the majority that are working for a living with little or no assets, a stagflationary nightmare.
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Bonus Chart: 15-64yr/old total population versus annual change. Again, the Census estimated growth among the 15-64yr/old population in excess of 600 thousand in 2017 (almost entirely thanks to immigration)...but reality appears to be a decline in excess of 200 thousand (detailed HERE). And moving forward, the chances of core depopulation through 2025 look increasingly more likely. Regardless the Fed speak and happy tax talk, a spectacular amount of additional debt and monetization will be necessary over the next decade if America is to show "growth" in a nation built on debt fueled consumption and trade deficits.