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Keith Fitz-Gerald of Money Map Press on the current birthrate and how our economy compares to Japan.
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Now that's.
Japan just terrible demographics.
Far more old people far fewer babies being -- and it is a huge economic problems.
All we gonna get the same thing happening here is why we ask.
64 babies born in the US in 2010 for every 1000 women of childbearing age fifteen to 4460.
Fall that's it.
That is the lowest birth rate in US history.
Joining us now is Keith FitzGerald -- president of both.
Japan and the United States first I want to just talk about the Japanese situation on that would dumbest the fall but to me it's fascinating.
Japan if I'm not mistaken has the most extreme demographics of any society in recorded human history that is more all people fewer -- That population is contracting rapidly.
Am -- accurate in saying that festival case.
Yes you are and you can see that anecdotally they sell for example more adult diaper products and they do infant diaper products right now is that true really.
-- -- -- -- -- is an aid it but it is that why all one of the main reasons why.
Japan has had what amounts to a thirty yes standstill.
And its economy if not a thirty year recession.
Yes I believe it is Stewart -- and a tremendous state of denial here in this country that we're going down the same path.
You said he had Italy -- -- in Japan you can see in any other nation throughout history where the graying of the population has drawn on the public treasury.
And the reason for that is that the number of workers supporting the proportion number of retirees dropped over time.
And when that happens there simply isn't as much money being kicked in to assist in this depended on it for pay out.
And Japan has the -- bigger debt than any European country and certainly far bigger than the United States.
I think that's true as a proportion of the of the GDP correct.
Yes in fact when you add private debt public that incorporate that together the figures are higher than 250 some -- percent this talked about it fact it's closer to 500% of GDP which makes the Greeks look positively -- my work.
Powerful the hold of us let's let's get back to America for South Africa we've got a low -- right the lowest in recorded American history -- that.
But don't we also have mass immigration.
Which makes up I think for a low of us rate so -- population still expands -- nowhere near the Japanese situation really all.
Well we're not there now Stewart but that's the issue -- you know this is why this sort of buried tuning as being wire -- on this bandwagon -- in the warn however that expression goes.
-- this is the beginning of another step that reinforces the fact that we're headed down the same path.
Japan has had eight failed fiscal stimulus programs we've had three or four depending on how you count -- Japan's retirees population is growing -- birth rates dropping -- we've got that they're banking system is jail.
Check we've got that their industrial output is dropping -- we've got that you know so at what point do you do do we stop in Washington.
The river of denials -- you know we may have a fundamental problem here.
The economic crisis does in fact have directly to fertility and that's the beginning of what the state is now starting to show here in the united state.
-- -- I believe that every year on the emperor's birthday.
He gives us a little -- -- a -- to every one of its citizens whose reach the age of 100 in that preceding yeah.
And last time around his arm is I would call he had about 20000.
Socket cups is.
That is that accurate.
You know I don't have the exact figure on that but my father in law for example -- 87 years old and he is still strong as an -- in -- very vibrant part of the Japanese society so anecdotally -- -- my neighborhood along the river when I walk every morning.
-- be home on Friday walking along the river with many of these still -- is what they call them because of their silver hair does the society look old as you walk around -- is just noticeable no kids to enable students.
No you know kids are very in -- dependent -- delighted it's encouraging to hear that you hear the squeals of laughter from all the school yards around the neighborhood.
But that's getting quieter and quieter even a 25 years that I've been going back and forth I've noticed the change has just fascinated I wish we had more time it was gonna do this again.
-- this extreme demographics in Japan.
And America may be going down the same but I find that absolutely fascinating because this is there's no ideology involved via this is demographics.
-- -- -- -- you can't tell on the supertanker of demographics around like he could to an ideology -- The case.
You promised -- is again OK thanks very much -- announced European.
Tim.
