02-02-2017 • http://www.zerohedge.com ..The United States is a demographic time bomb, plain and simple. Over the next 30 years, the U.S. economy will face an unrelenting demographic transition as ~75 million baby boomers exit the highest wage earning years of their life and start to draw down what little retirement savings they’ve managed to tuck away while wreaking havoc on the public "safety net" ponzi schemes, like Social Security, that will almost certainly be insolvent in a decade.
Per the U.S. Census Bureau, over the next 30 years, the number of people in the U.S. over the age of 65 is expected to double while those 85 and up will triple. Needless to say, the overall population growth of the United States is a fraction of that which means that millennials are about to get crushed by their parents….so it’s probably a good thing they already live in mom and dad’s basement.
But, since misery loves company, we figured we would take this opportunity to highlight Bloomberg’s "Sunset Index" which tracks the number of working age people per retiree, by country and confirms that the United States is far from alone in their pending demographic crisis.
While France and Singapore are currently the worst off with only 2.2 workers per retiree, the map below highlights just how pervasive the aging population crisis is around the globe.
The world’s working-age population is shrinking faster than expected, leaving fewer people to support a growing number of seniors, according to the Bloomberg Sunset Index.
As seniors increasingly outnumber people still in the workforce, pressures rise on investment pools, medical systems and funds to build economies for future generations. …Read Full Story
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