After a century of rapid population growth, the world is getting older. But with fewer workers to subsidise healthcare and pensions, some speculate that shifting demographics spell trouble for the economy and our investments. We debate whether the golden age of stock markets can survive the great Demographic Drag? And in today’s Dumb Question of the Week: How did old people survive before pensions? Selected links Ageing Is the Real Population Bomb | IMF Boomer Retirement: Headwinds for U.S. Equity Markets? | San Francisco Fed ---Get in touch ? mhr@pensioncraft.com ? many-happy-returns.captivate.fm --- Join PensionCraft ? Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns