The World Is About To Experience Something Not Seen Since The Black Death
KingWorldNews.com
July 26, 2016
With the price of oil hitting a new multi-month low as the Fed kicks off its two-day monetary policy meeting, the world is about to experience something not seen since the Black Death.
A portion of today’s note from Art Cashin: This week the Buttonwood column of the Economist examines how broad these population declines are becoming and ponders on potential economic fallout. Here’s how they start out:
THE world is about to experience something not seen since the Black Death in the 14th century—lots of countries with shrinking populations. Already, there are around 25 countries with falling headcounts; by the last quarter of this century, projections by the United Nations suggests there may be more than 100.
Such a shift seems certain to have a big economic impact, but there is plenty of debate about what that impact might be. After the Black Death a shortage of labour eventually led to a sustained rise in real wages. If that trend were repeated, it would come as a big shift after a prolonged period of sluggish wage growth, something that has fuelled political discontent across the rich world.
The Rest…HERE
