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This isn't really what happened. All financial systems were built on the assumption of massive (native) population growth, including of course job growth. When
by candiodari 2y ago
This isn't really what happened. All financial systems were built on the assumption of massive (native) population growth, including of course job growth. When this failed, next up was mass-immigration to attempt to make up for the fact that the numbers coming out of schools can't make up for people "leaving the workforce". Of course, now we find out immigration ALSO cannot cover the people leaving the workforce. Some of it works, to be fair, but too much doesn't, and people don't like the culture being imported.
The issue is, by the way, not that growth stops but that we're currently committed to about a halving of population in most of the developed world. But if nothing changes that could easily become an 80% or more drop.
There is no way in hell our financial system survives the next 20 years without MAJOR changes. Not going to happen.