Thursday, November 22, 2012

The End Of Economy As We Know It

In Europe, we are now getting used to read about the Euro crisis, and the fiscal cliff in the US has a view that would make Grand Canyon full of envy. During the last ten years, central banks have expanded their balance sheets from 3 to 13 trillions dollars. But one country could be even worse off and that is Japan. During 2011 sales of adault diapers exceeded those for babies for the first time. With a debt level that would make the greek economy look really well managed, the rate of birth vs the number of senior citizens, the equation is hard to solve: