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  • Falling Global Birthrates Threaten Prosperity

    Long-time clients and readers will recall that one of my macro concerns is the steep decline in birthrates in developed countries around much of the world, as discussed at length in my September 4, 2007 E-Letter. Given that we have a short week due to the President's Day holiday, I have elected to reprint another fascinating article on the subject of falling birthrates. The following article by Professor Steven Malanga points out that the US birthrate is hovering at just above the necessary 'replacement' level, which he and others believe will lead to a long period of healthy economic growth in the years and maybe decades ahead. However, as he points out near the end, rising taxes have a negative effect on birthrates, and with our national debt exploding, we are definitely headed in the direction of higher taxes. I think you will find this very interesting reading.