"Alcohol didn't cause the high crime rates of the '20s and '30s, Prohibition did. And drugs do not cause today's alarming crime rates, but drug prohibition does." – US District Judge James C. Paine, addressing the Federal Bar Association in Miami, November, 1991
Regular Commentator "Coal Guy" helped to clarify the impacts of declining population growth on the Government Ponzi Schemes I brought up in a recent post... now listen to...
“I will go so far as to say that not only growth but capitalism itself may be in part dependent on a growing population, production depends upon people, not only in the actual process, but because of the final demand that justifies its existence.”
During my career on Wall Street I have often said that economic growth would likely end with the end of population growth, and with it the end of ALL of the Ponzi Schemes (we didn't have Madoff back then). This concept was often met with derision. Here now is Establishment Power Bill Gross saying essentially the same thing with but one qualifier in the above statement - "in part dependent" - and of course it is fully dependent, no "in part" about it.
Problem is... stone cold Capitalists like me will be kind of lost without capitalism...