1- Beginning January 1st, 2011, for the next 19 years, every day more than 10,000 Baby Boomers will reach the age of 65

2- According to one recent survey, 36 percent of Americans say that they don't contribute anything at all to retirement savings

3- Most Baby Boomers do not have a traditional pension plan because they have been going out of style over the past 30 years

4- Over 30% of U.S. investors in their sixties have more than 80 percent of their 401k invested in equities. So what happens if the stock market crashes again?

5- 35% of Americans over the age of 65 rely almost entirely on Social Security payments


6- According to another recent survey, 24% of U.S. workers admit that they have postponed their planned retirement age at least once during the past year

7- Approximately 3 out of 4 Americans start claiming Social Security benefits the moment they are eligible at age 62

8- Pension consultant Girard Miller told California's Little Hoover Commission that state and local government bodies California have $325 billion in unfunded pension liabilities

9- According to a recent report from Stanford University, California's three biggest pension funds are $500 billion short of meeting future retiree benefit obligations

10- It has been reported that the $33.7 billion Illinois Teachers Retirement System is 61% underfunded and is on the verge of complete collapse

11- The 50 states are collectively facing $5.17 trillion in pension obligations, but they only have $1.94 trillion set aside in state pension funds

12- According to the Congressional Budget Office, the Social Security system will pay out more in benefits than it receives in payroll taxes in 2010

13- By 2025, it is projected that there will be approximately two U.S. workers for each retiree

14- According to a recent U.S. government report, soaring interest costs on the U.S. national debt plus rapidly escalating spending on entitlement programs will absorb approximately 92 cents of every single dollar of federal revenue by the year 2019

15- After analyzing Congressional Budget Office data, Boston University economics professor Laurence J. Kotlikoff concluded that the U.S. government is facing a "fiscal gap" of $202 trillion

16- According to a recent AARP survey of Baby Boomers, 40 percent of them plan to work "until they drop"

Link -
http://www.d-transition.info/western-demographic-winter-2/16-statistics-about-co...
====================
Whilst I agree that Aging Global Demographics will be a serious contributor to future Economic directions, it will certainly not be the only contributor, nor will those other contributions be small and nor are the affects of these contributions restricted to the future, they have already commenced!

Certainly, the Demographic mix will have & is having a substantial impact, but so to will the Declining Global Fertility Rate, which for various reasons (in my opinion) is set to Peak within 20-30 years, then go into reverse, bringing with it another set of Demand (in decline) and Supply issues, which will further lower Global Economic Growth, before it goes into actual decline.

However, whilst POPULATION DEMOGRAPHCS is THE MAJOR ECONOMIC DRIVER, there are also a few major Economic Enablers -
1) Energy
2) Innovation/Technology

Energy is also already in Decline, with our major Energy source (being Oil) already in per capita Decline for some time and the total supply has also been in effective Decline since 2005, as the Supply of oil has failed to keep pace with Demand & Population increase.

Other Energy sources can come on stream, to "some extent" for Power Generation, for the short to medium term (5-40 years), but Oil is a major stumbling block because of its use in Transport & many other Agricultural & Manufacturing processes, including Medicine!

Innovation/Technology may still be the cavalry that rides to the rescue, again, in the nick of time, but I would not want to base "good Public Policy", on such a wing & a prayer!

Finally, there is the issue of Climate Change, which may or may not be a man made problem, although I suspect that it is and that hangs over everything like a Damocles!

John Galt writes: In case you haven’t noticed, the great culling of humanity is taking place right now. Unfortunately, preparation needs to begin for two gloomy scenarios: slow economic collapse, or catastrophic demolition.

According to the elite's own admission, Corporation Earth is bankrupt and bloated and must be downsized. In other words, that which mathematically cannot continue, will not continue; and it's time to cut the fat.

Banksters and the oil cartel appear to be taking the lead to bring about the final phase of a long-range plan. Wall Street is driving up prices for essentials like food and energy to the breaking point, which is shaking every nation on earth to its core. The effect of such manipulation seems destined to lead toward a severe reduction in numbers of the human population, and a tightening of control over those who remain.

Even strong developing nations with economic surpluses like China and India are faltering in the face of such manipulated increases. Regions ill-equipped to cope with food shortages, but are oil-rich, like Northern Africa and the Middle East are quickly destabilizing as a result. Meanwhile, America has a record amount of citizens on food assistance amidst worsening unemployment.

This economic wrecking ball is having a devastating global effect.



The oil and Wall Street powers seem satisfied to allow the civil unrest to spread in order to feed their greed for higher oil prices and resulting control. Surely they recognize that higher oil prices will suck the remaining wealth out of the poor and middle classes around the world. This scenario will obviously cause starvation, illness, and other life-shortening effects, as increasing numbers join the ranks of the poor . . . and the poor have no where else to go.

It appears that there is no stopping this scenario unless the human tribe finds solidarity of purpose in defeating the very system that has offered only two horrible scenarios. Incidentally, the escalating global unrest is the fallout, which may have triggered such revolutionary times. The summer and autumn austerity revolts throughout Europe now have spread to oppressed Arab countries, and are being hinted at in the streets of Wisconsin and elsewhere in a formerly asleep America.

We must assume, however, that the ruling class has contingency plans for dealing with organic protests resulting from their economic hitman schemes. The dilemma for those in the human tribe who understand the purpose of these manufactured events (culling and control) is to determine whether a slow economic destruction is actually any better than rapid collapse for creating a more just and free society.

Many will say there may still be more than two ways forward if enough people wake up quickly enough, but the elite control the tap of resources (life) and they will simply turn off the switch if they are truly threatened by other possibilities. Incidentally, it's this very tap of money, oil, and food that is already being restricted to create this depression cycle. Thus, they are certainly capable of a complete switch-off that would result in a rapid collapse of resource delivery systems, while the world is becoming incrementally poorer due to their economic policy decisions.

So what is the endgame?
Complete collapse might cause immediate solidarity in communities out of sheer necessity to cooperate, which appears to present an opportunity to start over and rebuild at the local level during the period when the centralized control system will be in crisis mode. Yet, a catastrophic collapse will indeed accomplish the controllers' goal of rapid depopulation through starvation and civil unrest, as vital goods will likely disappear almost immediately, especially from mega-cities.

It seems that a slow demolition approach allows more time to educate, prepare, and propose a better way forward for society. In turn, it gives the controllers more time to situate their chess pieces and set up the high-tech control grid.

Indeed, there will be pain and suffering in both inevitable scenarios. For those on the side of humanity, a slow demolition might be preferable, as truth will always win if given enough time to reach those who are open to it. And yet, nothing is more likely to wake people up en masse than a total shutdown.

Regardless, we should seize the opportunity today to prepare people for these inevitable realities, and join forces to propose a new way forward.

Link -
http://www.marketoracle.co.uk/Article26605.html
========================
It has been said, "the best laid schemes of mice and men, often go askew".

Once we start down these slippery slopes, which I think it is likely, we already have, then the capacity for miscalculations increases dramatically and with it comes the chance of errors, of a magnitude never before imagined?

A $68-BILLION pension blow out will force the Federal Government to raise immigration levels and taxes.

Economists say the mass retirement of 4.5 million post-war baby boomers over the next decade, with the first wave born in 1946 reaching the pension age of 65 this year, will lead to a $68-billion-a-year blowout in the cost of aged pensions and healthcare, creating an "Enron-style" black hole in the federal budget.

Analysis by demographic economists MacroPlan Australia, using government data, shows the annual bill for pensions will almost double to $63.5 billion a year by 2020.

Health-related spending for retirees will rise by $40 billion a year, from $51 billion in 2010 to $90.7 billion in 2020.

And experts warn the Labor Government's already-flagged measures such as increasing the Super Guarantee from 9 per cent to 12 per cent, raising the retirement age to 67 from 2017, and targeting "improved productivity" -- especially from older workers -- are "too little, too late" to avert the impending financial crisis.

"We have to radically increase the number of taxpayers through more immigration -- and increase the amount of tax we all pay," MacroPlan CEO Brian Haratsis said.

"The Government tried to raise billions through its mining tax to pay for all of this but it's fallen far short -- some say $60 billion -- of its target. Now it is talking about a $5 billion disability levy. We will see more of these little taxes introduced before the real tough decisions are made."

Although the Families, Housing, Community Services and Indigenous Affairs Department insists the pension system is "sustainable", Treasury's own data shows it is not.

In its latest Intergenerational Report on the ageing population, Treasury admits to a slowly shrinking budget within just seven years.

"From 2018-19 onwards . . . ageing and health pressures are projected to lead to a gradual deterioration in government finances," it says.

"A fiscal gap [deficit] is projected to emerge in 2031-32 and grow to around 2.75 per cent of GDP by 2049-50."

Economists say personal taxes will rise shortly into the next government's term to head off the massive shortfall.

The number of people aged 65 or older will this year jump by 7.8 per cent to 248,641, and increase aged pension payments by $2.4 billion to $31.8 billion. But that is just the start.

The costs steadily increase year on year, pushing the pension and income support bill for retirees to $38.5 billion in 2013-14 -- an increase of 30 per cent in just four years.

And it's not just pension payments that are spiralling.

Government spending on aged residential care will rise by $1 billion a year to $7.5 billion annually by 2013-14.

Other expenses such as community care, seniors allowances and concessions, and wages of staff at aged-care and health facilities will all rise in line with the retiring boomers, the government figures show.

All this spells bad news for generations X and Y, who will be asked to foot the bill despite already struggling with record house prices, rising interest rates, rents and utility bills.



A spokesman for Treasurer Wayne Swan said the Government faced an uphill battle.

Link -
http://www.adelaidenow.com.au/retirees-will-cause-economic-black-hole/story-e6fr...
================================

Like Night follows Day, this has been comming, in fact it has been a certainty for over 50 years!

So why then, apart from the Super Guarantee set up by Labor in the late 1980's, have both major Political party's (in fact ALL) avoided this issue, like it was tainted with the Bubonic Plague?

If anyone, including Politicians from either the Labs or the Libs say, we've just discovered this problem about an Aging population (the Baby Boomer Bust) and we have to cut Health Care & Aged Pensions, you have my blessing to TELL THEM WHERE TO GO & WHAT THEY CAN DO, WHEN THEY GET THERE!

This and other issues, such as Peak Energy (Oil) & Climate Change problems, have been known for quite some time, but some (including Politicians & TPTB) have continually postponed taking action, as it was in their short term, self interest, to do so.

Well, tomorrow is now today and someone will pay, but if the pain isn't spread fairly, then the fairytale will not end well!

(14Point Plan)

The first 11 points go to how we can stabilise Australia’s population.
1. Stabilise Australia’s population at 26 million by cutting the net overseas migration program to 70,000 per annum.
2. Cut the skilled migration program to 25,000 per annum.
3. Hold the family reunion program at 50,000 per annum.
4. Increase the refugee program from 13,750 to 20,000 per annum.
5. Alter the refugee criteria to include provision for genuine climate refugees.
6. The revised number of annual permanent arrivals from these  programs would be 95,000 - 50,000 family reunion plus 25,000 skilled plus 20,000 refugees. Two more factors need to be considered: the number of people departing permanently from Australia, and the number of people arriving permanently from New Zealand. To reach a net overseas annual migration target of 70,000, the number of automatic places available for New Zealanders needs to be restricted to the number of departures from Australia over and above 25,000. The Trans Tasman Travel Arrangement would be renegotiated to achieve this, splitting available places for New Zealanders equally between skilled migrants and family reunion, and allowing New Zealanders to also apply and compete with other applicants under these normal migration programs.
7. Reduce temporary migration to Australia by restricting sub-class 457 temporary entry visas to medical and health related and professional engineering occupations.
8. Require overseas students to return to their country of origin and complete a two-year cooling off period before being eligible to apply for permanent residence.
9. Abolish the Baby Bonus.
10. Restrict Large Family Supplement and Family Tax Benefit A for third and subsequent children to those presently receiving them.
11. Dedicate the savings from abolishing the Baby Bonus and reduced expenditure on Family Payments for third and subsequent children towards increased investment in domestic skills and training through Universities and TAFEs.
The final three points go to how we can play a role in helping stabilise global population.
12. Increase Australia’s aid to meet the United Nations target of 0.7% of Gross National Income with money saved by abolishing Fringe Benefits Tax concessions for company cars, and greater use of off the- shelf purchases in defence equipment purchases.
13. Use more of Australia’s aid budget for educating girls and women, and for better access to family planning and maternal child health, and advocate in the United Nations and international fora for other countries to do likewise.
14. Put overpopulation on the Agenda for the Copenhagen Climate Change talks.

Link -
http://www.environment.gov.au/sustainability/population/consultation/submissions...
=============================
There is a lot more to this article & I recommend the read.

There is also the following speech that Kelvin gave in Parliament last year that also goes to the same issue.
http://www.kelvinthomson.com.au/Editor/assets/pop_debate/101004%20speech%20to%20...

As usual, I would agree with some of Kelvin's reasoning & disagree with others!

In particular, amongst the many reasons given for wanting to restrict the Australian & Global Population increase, which include -
global warming, food crisis, water shortages, housing affordability, overcrowded cities, transport congestion, fisheries collapse, species extinctions, increasing prices, waste, war and terrorism
But it fails to mention Peak Energy, which is probably THE MOST PRESSING of all reasons, along with Climate Change!

There are some things that can easily be implemented, whilst others would be more difficult.

In my opinion, cutting the Baby Bonus, would be one of the first to be implemented.

There are a couple of areas in this report that may be somewhat misleading and one of those is where Kelvin says, "Australia’s fertility rate has moved between 2004 and 2007 from 1.76 to 1.93 children per women. This does not mean that births are less than deaths."

Whilst this may be technically correct, as there is usually a lag or catch up period of time, it is never-the-less a fact that any fertility rate less than 2.1 children per women, will eventually translate into a declining population, unless immigration levels are adjusted higher to compensate.

But 2.1 is the accepted ZPG, as far as births & deaths are concerned!

There are massive ramifications, whichever path is chosen, so it is a Political debate that simply must take place and it should get underway (in earnest) earlier, rather than later!  

Btw, I think Australia will likely stabilise at less than its current Population, by the end of this century, one way or another!

Finally, by way of comparison, you may be interested in the following article, in which Demographers suggest that the Russian Population may decline by around 17%, from 140 million today, to around 116 million in 2050.

http://www.voanews.com/english/news/europe/Demographers-Warn-of-Looming-Populati...

perceptions_now wrote on Mar 31^st, 2011 at 10:00pm:


Precisely.
We cannot know what that limit might be. Malthus was wrong. Ehrlich was wrong. The Chinese one child policy was wrong. Bob Brown is always wrong. And so is Peter Singer.
Have another kid.

Apparently the (Dick) Smith Family advises Australians to only have x2 children so as not to 'over-populate' Australia and loose our 'quality of living' standard.
This is true in a way.
John Howard made sure all the women in Australia were working rather than laying down with their feet up in the air for his unemployment statistic and wealth gained.
Kevin Rudd proved how wealthy we were in comparison to other nations during the economic crises, only because we had a small population of children to waste money on.

We are consistenly in the Top 5 of the Highest Suicide Rate in the World. - if not 'the' top.

I didn't know that Australia would be 'over-populated at 35 million Mr Dick Smith. Maybe you should curb immigration or is that like saying no to chinese people who look like you Mr Smith?

Fact is: Australia will recieve a self-sustaining population growth and an increase of 200 million. This is because Australia's Minimalistic approach to population, will be projected upon the rest of the world as the answer to the overall global problem of over-population.
Look at it this way. x1 region of the world becomes heavily increased in population while x7 other regions 'decrease'.
Australia is the 'key' to the over-population situation.

PS: You're comic strip of the Reindeer is spot on, though many species under the same situation are able to 'survive' such a drastic crash. Even the Pitcairn Islanders had a bit of a cull happen.
Most species that suffer such crashes do recouperate, but for some inherant reason, they never over-populate beyond a 1/4 quarter of their former size in number.

China will go SuperNova - collapse under the weight of such a huge population trying to live up to the modern standard as imposed by ...Australia, specifically.
India will also suffer a major population decrease - more from Nuke war than anything.