1 Far different immigration realities. Japan is dying off, America+Mexico is growing.

2
Far different immigration realities. Japan is dying off, America+Mexico is growing.

Yet our working age population is still forecasted to decrease. As shown.

3 Yet our working age population is still forecasted to decrease. As shown.

Is that a decrease-decrease, or the continued number-fudging to avoid acknowledging 20% unemployment?

4 Yet our working age population is still forecasted to decrease. As shown.

Posted by: geoff at January 18, 2011 01:21 PM (1DvsG)

That's a false comparison if our own poplulation increases though. Because someone retires doesn't mean they start living in a tent. At least not yet.

5 Believe it. Especially as more and more households here will take after the British model; that is, no one works. What is it in Britain now, one out of three or four households have no one employed? No job growth and income growth, no real estate growth.

6 The situations are not comparable.  Japan got itself in trouble by spending vast sums of money on useless, make-work projects to prop up corrupt politicians......


um, never mind.

7 Hey you guys, we're out of here, and there is no demand for our big old homes so you guys get a deal, unless you got conned into buying one of ours two years ago.  SUCKER!

Any way you look at it you all are going to miss us and our crazy spending!

Thanks for paying for our health care too!  Love ya, Peace Out!

8 Looks like a spurious correlation to me.  No good correlation between the variables (employment and real estate) for the first 30 years of data, and certainly not a relationship that matches up with the second 20 years.

9 Working age population percentage may be forecast to decrease, but even our legal population is growing. And we've just voted against Demonomics. We've got a chance. Except for Detroit.

10 IMHO, this is indeed true. The Boomer demographic, in it hugeness, distorts the economy in a unique way. Our demand ran up prices; the lesser demand of the smaller number of our kids will bring them down.

There is a guy who predicts that stock market based on how many people are age 49 at any given time, because that's when people think, hey, I better start saving for retirement. Historically he's pretty accurate.

11 And we've just voted against Demonomics. Too bad the Congress including the GOP leadership doesn't agree. They're too busy deciding to be civil and sitting together for SOTU, either boy-girl or straight-gay. We will not see a serious reduction in any spending, just promises. For instance even NPR will continue to be funded, and that is microscopic compared to entitlement spending.

12

Being at the end of the baby boom sucks in comparison to being at the front of the baby boom. Hind teat really bites.

13 The demographic trend in Japan is untenable, hence their love of robots.

14 The difference is that Japan never really had many immigrants. We do, whether we want them or not.   Secondly, American families do not seem to be going down the Eu/Jap rabbit hole of one child per couple.  Most American families are replacing themselves.

15 The true burning question: Can Japanese sexbots legally hold title to real estate?

16 It's probably our boomers with multiple houses. As they age, they will probably downsize the number of homes that they have. My much older sister has a house, a beach house, a mountain cabin, her in-laws condo that she rents, a house she houses her good-for-nothing son in, and the building which holds her business and which she rents out 75% of. They plan on retiring to the beach house. My parents owned 32 houses, 31 of which they rented. That's 37 houses which they will have sold. The investment in real estate is going to decrease because of the downturn. That may never recover.

17 No the prices will not continue to drop.

Because the dollar will drop faster...

(Unless you mean "adjusted prices", then yeah.... but that is a good thing.)

18 The graph didn't take into account all the property damage done by Go-zeera over the years, which obviously affects the value of said property. 

Anyone can see that.

19

...oh, and count on the left to continue to target the value of the assets held by the 'haves'.   It plays to their ends.

20 I keep trying to convince the wife to sell the house now and retreat to a single-wide on a piece of land in the Poconos. Oddly, she's resistant. Maybe if I promised a double-wide?

21 Also, that graph doesn't take into account the influx of New Money. And by New Money, I mean the stuff being printed right now.

22 Anyone look at that story recently (was it here?) on the ghost towns in China, as illustrated by Google satellite photos? Incredible. Like empty movie sets. http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12

23 This is an absurdly simplistic exercise in curve fitting, but it's good fun for the doom fetishists. 

24 And by New Money, I mean the stuff being printed right now. Check this out at Mish's place where he quotes the Irish Independent: ECB Allows Irish Central Bank to Counterfeit 51 Billion Euros The Irish Independent learnt last night that the Central Bank of Ireland is financing €51bn of an emergency loan programme by printing its own money. The figures also provide the latest evidence that responsibility for funding Ireland's broken banks is being pushed increasingly back on to Irish taxpayers. The loans are recorded by the Irish Central Bank under the heading "other assets". A spokesman for the ECB said the Irish Central Bank is itself creating the money it is lending to banks, not borrowing cash from the ECB to fund the payments. The ECB spokesman said the Irish Central Bank can create its own funds if it deems it appropriate, as long as the ECB is notified. http://globaleconomicanalysis.blogspot.com/

25

The concept makes sense.  Fewer working people means fewer people with enough cash to pay a high price for real estate, no matter what the overall population is.  Many immigrant groups seem to have no problem living 50 to a house, so they really don't increase demand the way domestically born people do.  People born here expect to live like human beings rather than like cows packed into a feed lot.  I'd rather be put against the wall and shot than live in some efficiency apartment with my entire extended family and their mewling brats.

In the mean time, what's to be done?  Should I sell my house and live in the street because the value will go down?  We simply need to accept that housing is not an investment - it's an expense.  It is not a productive asset.

26

 Oddly, she's resistant. Maybe if I promised a double-wide?

Double wide with a deck. I think there is even a country song to that effect.

27 My parents owned 32 houses, 31 of which they rented. That's 37 houses which they will have sold. The investment in real estate is going to decrease because of the downturn. That may never recover.

Posted by: dagny at January 18, 2011 01:37 PM (oceiy)

It isn't what individual owns any rental unit at one time that determines value. Value is based on whether there is a need for the rental unit. Rents are going up, apartment builders are gearing up to build more apartments. That is because there is a demand, a demand created by people who aren't buying houses.

The government has prolonged the housing crisis and made it worse by propping up real estate prices. I say made it worse because instead of the market finding a bottom quickly and rebounding the government has kept it in limbo which has sidelined 20% of the economy, the construction industy. It's been a catch 22, the economy won't recover without contruction and construction won't start until the market finds a bottom.

28 Whether you think the chart is valid or not (I do), there are currently some un-arguable things happening.  Real Estate taxes (and other taxes) will continue to rise despite falling values to pay for exorbitant public employee pensions and debt which will in turn make values decrease more.  Secondly, the demographics of boomers moving into smaller homes will exacerbate the condition.

This will lead to house destruction (ala Detroit) and lower govt services (ala Detroit).  In short, we're boned.

stolen from ZH:
The Congressional Budget Office is now forecasting that, with the current spending trajectory and the new tax compromise, total debt will reach $23 trillion by 2020, or some 160% of todayÂ’s GDP, 1.6 times the WWII peak.

By then, the Treasury will have to pay a staggering $5 trillion a year just to roll over maturing debt. WhatÂ’s more, these figures greatly understate the severity of the problem. They do not include another $9 trillion in debts guaranteed by the federal government, such as bonds issued by home mortgage providers, Fannie Mae and Freddie Mac. State and local governments owe another $3 trillion. Double interest rates, a certainty if the current commodity price inflation continues, and our debt service burden doubles as well.

29 Yeah, but the USA is all diverse and stuff and as long as we keep allowing millions of illiterate Mexicans to immigrate and give everyone free health care we will beat Japan's fate.

30

"Most American families are replacing themselves."

Imagine where would be if income taxes allowed the actual living expenses for a human to be deducted against gross income for a dependent. Simple way to compute annual living expenses is use welfare pay outs per person. That would have incentivized rather than decentivized children in the US. I wonder why we didn't do it?

31

That's a false comparison if our own poplulation increases though. Because someone retires doesn't mean they start living in a tent. At least not yet.

Posted by: robtr at January 18, 2011 01:27 PM (hVDig)

< Teh, heh.

32 12 - Tigtog

"Being at the end of the baby boom sucks in comparison to being at the front of the baby boom. Hind teat really bites. "

Couldn't agree with you more. I"ve compared it to being the last locust in a swarm - not much left after the main body scours the landscape clean. On the gripping hand, though, I look at what earlier generations went through, the Great Depression (The real one), and buck up a bit. It could be worse. Of course, it will be, just when we are least able to cope with it. Oh, well, that's life.

33 22 Anyone look at that story recently (was it here?) on the ghost towns in China, as illustrated by Google satellite photos? Incredible. Like empty movie sets.

http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12

Posted by: George Orwell at January 18, 2011 01:41 PM (AZGON)

--Interesting, but the title is misleading.  I was expecting cool shots of rural communities depopulated by migrants going to the coastal cities.

"Ghost town" implies a one-living locale now vacant.  These I would call "shell cities/towns," vacant buildings and cities still seeking their first occupants.

34 Way, way O/T...but this video is fookin' hilarious

35

Yet our working age population is still forecasted to decrease. As shown.

Don't worry, I will make sure that does not matter.....

 

36 That would have incentivized rather than decentivized children in the US. I wonder why we didn't do it?

Posted by: Tigtog at January 18, 2011 01:52 PM (Q5+Og)

That would prevent the government from sucking taxes out of the productive folk.  Thus, it doesn't fit with the plan.  The only children the Great Society supporters wanted to incentivize are the children of the dependancy class, the welfare scum.  Thus, the US is increasingly over run with bastards from the slums.

In any case, once you have money, children are no longer the top priority.  All developed nations that start to become rich see reproduction fall off, which is as it should be.  There's too much nice stuff to do and to spend money on without burning up your wealth and sanity on ungrateful brats.  The breeding of piles of new humans has always been the job of the poor - no doubt because they're so good at it, and because those with resources always seem to eager to pay them to do it.

37

Clearly, the Obama Administration and other Democrats want to keep unemployment in this country high. It serves their agenda, fertilizing the garden for Communism with agitation and discontent..

Evidence of which is that, just as the Clinton Administration did, also, the Obama Administration now wants to transfer the bulk of the aerospace industry and its related military-industrial complex to China, which will lead to huge job losses at Boeing Aircraft and at Airbus and with their subsidiaries and supporting affiliates, also. But the MSM isn't reporting that.

Democrat politicians and their shills in the MSM can not be trusted to protect this country. They are that irrational, that irresponsible, that sleazy and that dangerous.

38 The situations are not comparable, and what's more the U.S. real estate market is vastly different. Also do not believe everything you hear about "home prices". It is a lot of media hype.

In Japan the real estate bubble was built on a false premise of bank lending. In the U.S. real estate bubble in a lot of locations was built on green laws and speculation, aided and abetted by stupid government policy and regulation.

For most parts of the country (again the flyover country) there was  no real estate boom and there has been no bust.

39 The breeding of piles of new humans has always been the job of the poor Posted by: Reactionary at January 18, 2011 01:59 PM (xUM1Q) I disagree.

40

Yeah, I've been saying this for a while. Look at your home--if you can't see an illegal immigrant being able to afford it in the next 20 years, you're going to take a bath on it.

Being on the tail end of the Boom will benefit us in one way--an oversupply of retirement homes. Wait until the last minute to invest in one and the waning demand should keep your codger-shack reasonable.

41 --Interesting, but the title is misleading. I was expecting cool shots of rural communities depopulated by migrants going to the coastal cities. "Ghost town" implies a one-living locale now vacant. These I would call "shell cities/towns," vacant buildings and cities still seeking their first occupants. True enough. The trouble is there is no one to occupy these cities. No one can afford to live there. Plus, their high-rises have an unfortunate habit of falling over occasionally.

42

the Obama Administration now wants to transfer the bulk of the aerospace industry and its related military-industrial complex to China, which will lead to huge job losses at Boeing Aircraft and at Airbus and with their subsidiaries and supporting affiliates, also. But the MSM isn't reporting that.

Posted by: Brian at January 18, 2011 01:59 PM (sYrWB)

Sickening, but not surprising.  Alas - the pols on our side are no better.  They poured that "free trade" honey in our ears for years, while watching industry move out for greener pastures with cheaper wage slaves.  If only free trade had actually been tried at some point, we could see whether it really works.  Alas, no such luck.  Just last year China passed a law mandating that companies relocate R&D to their country or face penalties - we did nothing in response.  So - all those high skilled jobs, all that R&D which was supposed to keep our economy afloat, is also being outsourced.

Until employment improves there will be no housing recovery.  And sadly, I don't think that moving all the manufacturing and research to the 3rd world is going to let us all become artists, massage therapists, and paper pushers of various stripes.  It will just leave us with little to do, and vanishingly little to buy those "cheap" imports with.

 

43 I disagree.

Posted by: Johann Sebastian Bach at January 18, 2011 02:01 PM (BP6Z1)

Merely an exception to prove the rule. 

44 Let's also stipulate that this chart and prediction doesn't ignore the rule of real estate: Local, local, local. No one believes your illegal immigrant gardener from Guatemala will ever be able to afford a house in Beverly Hills. But if you paid top dollar for a tract house in Valencia, you are so very finely fucked.

45

Merely an exception to prove the rule. 

Posted by: Reactionary at January 18, 2011 02:08 PM (xUM1Q)

--Depends on the age and society.  Victorian England saw a population boom among all the classes.

46

"Couldn't agree with you more. I"ve compared it to being the last locust in a swarm - not much left after the main body scours the landscape clean. "

Its not that the landscape is bare, but that it was always overpriced relative to the buble in the demographic pyramid. The worst part was promotions. The higher the tax rates the longer your elders stayed in place. Kind of puts a kink in upward mobility.

47

They poured that "free trade" honey in our ears for years, while watching industry move out for greener pastures with cheaper wage slaves. 

And yet how much of the cost of labor is due to taxation? Mandates? Don't let the Demunists get away with their rhetoric about "exported jobs"--if anyone did that, they did, with their business bashing and corporate tax rates that are among the world's highest.

You may have noticed how businesses don't move to Venezuela, where commie bandito Chavez will steal from them, or to muslimworld, where they will be blown up, or to Outer Mongola, where there is no infrastructure.

48 I've been noting for a while that we are repeating the experience of Japan economically, twenty years after them.  Even with the example right in front of us, we repeat their mistakes.

49 We have not even begun to de-leverage our staggering debt.  It's clear that our rulers have decided that the only way out is to monetize the debt and try to hide the inflation.  Pensions, or states, will go under before this is over.

Go long beans and bullets, 'cause we're boned.

50 "Albert Edwards Explains Why The U.S. Is Actually In Worse Demographic Shape Than Japan"

51 Now, in appealing to the greed of certain Americans (and we know who they are), the Communist Chinese have opened two banks in Manhattan, paying much higher interest rates than any other banks are paying to get immoral and greedy Americans to send even more of their money to China than the Chi-Coms are already getting. Watch the rich liberals in NYC flock to those banks to invest their money in China.  Betraying and selling out America even more than they already have.

52 This is, perhaps 1/2 OT:  I'm still trying to figure out how a company's stock value can exceed it's dividend yield.  The entire stock (equities) market strikes me as being not Ponzi scheme-like, but greater fool theory:  stocks go up when a company does well, but since dividends don't (and some stocks don't even have dividends), what's the connection between a company's earnings, and stock value; there doesn't seem to be any real pipe connecting the two!

53

The hidden truth in that graph is how it looks like a naked dude with his ass in the air-

SRSLY folx if you think all these immigrants of color are gonna pay for the retirements of a bunch of predominantly white people you don't know them very well. They're being brought up on "social justice"...

54

"Bernanke lives in Washington's Capitol Hill area in a four- bedroom, 2,600-square-foot house he bought new in May 2004 for $839,000. Almost four years later, it may not be worth any more, according to real estate records and local agents.

Bernanke's timing wasn't the best -- values in the area peaked a year later -- and he is hardly alone among Americans living in an investment hat's turned cold."

this is from 2008 and I'm hearing that DC, Maryland and Virginia real estate values are going gangbusters but it always worried me that he would buy at the top of the bubble.

55

And yet how much of the cost of labor is due to taxation? Mandates? ...  You may have noticed how businesses don't move to Venezuela, where commie bandito Chavez will steal from them, or to muslimworld, where they will be blown up, or to Outer Mongola, where there is no infrastructure.

Posted by: Curmudgeon at January 18, 2011 02:15 PM (ujg0T)

Yes - our taxes and regulation play a part.  No doubt about it.  But even so, there are significant trade barriers constructed by our so-called partners that make this nearly moot.  For example, China's legal barriers, tech theft, mandate to "partner" with local companies, and overt currency manipulation.  Mexico is now putting tarrifs back up, because they're pissed we don't give them free access to our highways, so even NAFTA is increasingly a one-way street.  We have done almost nothing to respond, until our own recent competitive currency devaluations.  That's not an optimal solution, of course, because it's a wage cut for Americans. 

And yes - rule of law & infrastructure is sure nice to have.  But India, China, South Korea, Viet Nam, and others have enough civic order to make lots of business men quite comfortable with building there. 

56 Have they corrected that number for all of the missing 120 year olds?

57 This is, perhaps 1/2 OT:  I'm still trying to figure out how a company's stock value can exceed it's dividend yield. 

Posted by: ParisParamus at January 18, 2011 02:24 PM (Q16sd)

 You have to include hard assets and goodwill as well.  A company's book value is merely the market value, and this number is divided by shares outstanding to get a per share price.  The assumption being that with the most perfect information (all buyers and sellers), this is what the company is worth, dividend or no dividend.

58 I live, at least part inside the Beltway, every government financial type that I talk to takes monetizing the debt as a given - with the only question of how rapidly to do it.  The real control mechanism is inflation - the Government types will seek to keep inflation with the reasonable rates for their COLA increases.

59
Because someone retires doesn't mean they start living in a tent.

Yes, but they're also likely to have:

- a paid off home
- paid off cars
- all the consumer goods needed for a comfortable life

Other than the occasional new roof, HVAC unit or household and consumer goods replacement, the number of major purchases for retirees pretty much consist of newer cars, health care costs not covered by others, long term nursing or retirement homes, and funeral expenditures.

60 That state of affairs was predicted for the US some twenty years ago:  As population declines the demand for housing will decline.

61 There is the actual value of the company, which is mostly determined by their earnings.

Yes, but it mirrors/parallels the value; it isn't the actual value.  But hey, I still don't get how money is more than a form of mass psychosis. 

On that note, check out "The Invention of Money, a This American Life podcast (search iTunes).  Very interesting, and not tinged with TAL's leftish political spin.

62 Are you aware of the fact that, since the Carter Administration returned control of the Panama Canal to Panama, the Communist Chinese have been given contracts and control of the Atlantic and Pacific locks with naval bases at both ends of the canal, ignoring the Monroe Doctrine, and with the acquiescence of our Justice and State Departments on the screwy pretext that the MD applies to Europeans, not to Asians? Which causes one to wonder then, why did we go to war with Japan?  Seriously. Check it out.

63

... there doesn't seem to be any real pipe connecting the two!

The above explanations are good, but it helps to think of it this way: Maybe the company doesn't pay a dividend, but what would the company be worth if they did? Partly because they could at any time and partly because it's capacity to pay a dividend is indicative of it's cash flow.

64 #66, I guess what trips me up is how a currency can substitute for something real, say gold, that has industrial uses, for example, as a store of value.  I suppose of a piece of green and while paper can have value (and even though it's not now linked to gold), so can a stock certificate...

I'm not sure if I'm overthinking this one, or that everyone else underthinks the subject...

65 Posted by: Brian at January 18, 2011 02:54 PM (sYrWB)

I heard this the other day from Donald Trump.  He was on some radio talk show and he was saying that and the host was shocked.   Trump was advocating that we make everyone we help pay us for the help.  He also discussed this whole Panama Canal business.

Geez were people awake in the 70's?

66 Posted by: ParisParamus at January 18, 2011 02:57 PM (Q16sd)

oddly enough business insider has had a lot of articles lately discussing this.

67
The stock certificate signifies actual ownership of assets and income.  It isn't the piece of paper that is important, but the contract of ownership that it represents.

Posted by: iknowtheleft at January 18, 2011 03:07 PM (G/MYk)

yes, which is why a contract is so important and people shriek when they aren't honored.

68

Yep yep yep.  Western civilization's best days are behind us.  We are essentially a society that doesn't produce anything, that shifts around capital in order to make it look like we're working, and that lives off debt and fake wealth created by bubbles.  Thing is, there aren't any more bubbles.  That means that we're in for a slow decline, followed by a public outcry, as there won't be any more money in the coffers to pay for semi-permanent unemployment, health care for everyone, and thirty years of retirement benefits for a third of the population.  Oh, and did we mention that increasing immigration is off limits because nobody wants those dastardly immigrants to take non-existent American jobs?  Then comes the day of reckoning, as a silver tongued autocrat who makes Obama look like a puppy promises to fix everything if we just sign away our freedom.

This is how every free society dies.  We're watching history in the making.

69 The convention of money is not much different, in that respect, from human language.  You know, most people can't accurately define a quarter of the words they use on a daily basis.

Really?  1/4?!  More and more I'm getting the impression that we all live in, or at least I live in a parallel universe that isn't quite the same as everyone else's.  Oy, no wonder I feel so lonely so often.

(above, it was green and white paper, if that wasn't obvious...)
 

70 I live, at least part inside the Beltway, every government financial type that I talk to takes monetizing the debt as a given - with the only question of how rapidly to do it.  The real control mechanism is inflation - the Government types will seek to keep inflation with the reasonable rates for their COLA increases.

Posted by: Jean at January 18, 2011 02:40 PM (CPefM)

And as long as inflation is kept low enough to be managed, this is the best approach.    5% or 6% inflation is not good, but it's tolerable.  We've had it that bad and done OK.  It's when you get 70's style double-digit inflation, and double digit interest rates, that things get dicey. 

The modern situation is a difficult one.  We really don't need everyone to work in order to produce all we need, and vastly more.  If we really did productively employ everyone for 8+ hours per day the overproduction of goods and services would be massive.  By the same token, paying people to not work is even worse.  Europe's solution, cutting the work hours per person, would work fine in a closed system - spreading the available work over more folk than really are needed.  But the external competition from people who will work 16 hours per day for next to nothing makes this approach unworkable.  To complicate that, there are lots of people who are too stupid to employ in anything more complex than digging holes and filling them back in.  Those people are a drag on the economy even if they work - almost as bad as when they're idle.  What to do there?  Difficult issues...

 

71 Geez were people awake in the 70's?

Posted by: curious at January 18, 2011 03:07 PM (p302b)

 

That question could apply to the 90's, too.

Under the Clinton Administration, the Communist Chinese received contracts to open an expanded, new shipping port in Long Beach, California, depriving unionized American longshoremen of those jobs, and opening a potential naval base for the Communist Chinese right here in this country. Another story that the MSM didn't report, too preoccupied with gossiping about Monica and Paula.   Suffice to say, the MSM isn't worth a shit.

72 Kick out all the over 15 illegals. Replace all those kicked out with under 25 educated go getters from any non-muslim country. 

73

One of the worst things about housing price declines is how PROPERTY TAX RATES are ratcheted up to ensure there is NEVER a way for people to pay less in taxes even on houses which have declined in value.  Because local gov'ts are going to keep spending more, recessions or not.

Reactionary is dead-on right:  view housing is an expense, not an investment.  The die-off of the baby boomers will starve the market of cash for family housing for decades, and tract developments will turn quickly to slums for squatters. 

Only the high end of the housing market will rise in value, because owners will wisely retreat behind the gates of their cul-de-sacs.

74 the basic concept makes sense... the more people, percentage-wise, working leads to a higher demand for pricier homes. more income = nicer stuff. I doubt that ours will be quite so bad as we have a better overall demographic situation, and will continue to do so. Their debt is worse than ours, and they still have 3 of the top 20 costliest cities in the world. NYC, our most expensive, is #27.

75 Good Lord there are a lot of people buying to the hype from the MFM on housing prices. How many of you have actually gone to the source of all these stories and looked at the data?

Housing prices are down in a few areas. Over the past year they have only declined greatly in few select areas. Most places they have not declined at all because they never had the huge speculation fueled bubble taking them up.

There are a few places where the prices have dropped a bunch through no fault of a bubble collapse. They have dropped because banks loaned out money to people who could not pay it back and the local market has been distorted by a large number of homes in default. That will not take long to correct itself.

As for the "passing of the baby boomer" bulge effecting prices I wouldn't count on that too much. In fact, if you look at long term housing prices and the overall trend average you will find that they are actually an accurate measure of real inflation.

The old adage of housing prices being about location, location, location is still true.

76 I'm not buying the projection of the work force. The Census Bureau projects the population of the US to be 350 million by 2025. The 2010 Census has 308+ million. There is no way the work force is going to shrink from current levels given a 40+ million increase in population over the next 14 years. NOT GOING TO HAPPEN! Furthermore, based on demographics, seniors in this country will never outnumber youth unlike Japan. Now if you were to convince me that Obama and it gang of idiots were going to be in power for the next decade letting the EPA run amuck, continue the drilling bans and keep ObamaCare then and only then would I buy into the scenario there will be fewer JOBS for people to work. BUT NOT BASED ON POPULATION.

77 hair extensions suppliers ot buying the projection of the work force. here is no way the work force is going to shrink from current levels given a 40+ million increase in population over the next 14 years. NOT GOING TO HAPPEN! hair manufacturers The Census Bureau projects the population of the US to be 350 million by 2025. The 2010 Census has 308+ million. T human hair manufacturers