Where Have all the Germans Gone?

... And he does. In essence, Germany does not have enough young people for its old people to lend money to. So its financial institutions went to where the young people are: America. As Spengler says:

There is nothing complicated about finance. It is based on old people lending to young people. Young people invest in homes and businesses; aging people save to acquire assets on which to retire. The new generation supports the old one, and retirement systems simply apportion rights to income between the generations. Never before in human history, though, has a new generation simply failed to appear.

Those who think demography bores such as myself are peddling archaic theories of no relevance are missing the point. Yes, medieval farming communities assume large numbers of children in order to function. But the modern global economy and all advanced societies assume sufficient numbers of children in order to function.

[and the west's populations {which now includes the US 'native' population when immigration is subtracted} are contracting - ]

READ MORE