Sunday, April 7, 2019

Capitalism planning to throw old people on the street

Rich countries like the US and Japan are struggling to make enough babies. As sizeable populations of older adults retire and age out of the workforce, younger people are having fewer kids. It's setting up a ticking demographic time bomb, readying to explode when there aren't enough young people to care and pay for what the older generation needs.

Falling birth rates are a real problem for capitalism, a system that relies on growth to keep up it's false promises of a comfortable life. Now cheap oil is gone, and growth is over. Young people cannot afford children. So who will take the fall?

Today's retirees spent their working lives making capitalists rich. Now, suddenly, there is no money to take care of them. Where did it go?