from Zero Hedge
The growth of population has been the primary driver of global demand growth and growth in consumption. Rising wages have been largely offset by rising prices (inflation), so the primary basis of growth in demand is good old growth in population…and the deceleration in population growth should be very worrying for those expecting the next decade or two to look anything like the past seven decades.
The chart below gathers the combined 15-64yr/old annual growth of the 15-64yr/old population of the OECD, China, Brazil, and Russia against the Federal Reserve set Fed Funds Rate (%), global debt, and global GDP. To be honest, it’s a very good fit showing very bad things to come based on the current modus operandi.