Economic weakness and debt weight, plus birth control, are translating into falling birth rates in not just Italy, but many countries. Given the environmental scourge of humans, this trend has upside for the planet.
A new report finds the average number of children American women have in their lifetime is remaining fairly steady, at roughly two — hardly enough to outweigh the birth dearth much of the rest of the world is experiencing. Here is a direct video link.
As the Chinese and Japanese economies keep disappointing high hopes, Europe flat-lines and emerging market economies free fall, the world looks to the US as the best, great hope for global growth. Unfortunately, US households–the driver of the US economy and by extension, the world–are planning to spend a lot less going forward (chart below). Well unfortunate for companies banking on robust consumer demand–but less spending is actually the rational response for households fixated on rebuilding their personal balance sheets and autonomy.
Unfortunate for Canada. Having spent our own collective brains out on credit, the great white north is hoping a weaker loonie will boost demand from our largest trading partner to the south. But with US energy supplies already bursting at the seams and consumers looking at ways to stop frittering away their limited financial resources, the Canadian dollar may be languishing lower for longer than bullish hearts currently believe.
Anat Admati exposes the flaws in the banking system that could trigger another financial collapse, and lays out a plan to fix it in her new book “The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It.” Admati is the George G.C. Parker professor of finance and economics at the Stanford Graduate School of Business. She co-wrote the book with Martin Hellwig, an economics professor in Bonn, Germany. Here is a direct video link.
Also see more on Admati’s refreshing new Stanford course where she seeks to enlighten her students on the real world impacts of finance: Beyond the basics: finance and society elective teaches students to think about broader implications.
Cory’s Chart Corner
