COTD = Chart of the Day

Stunning demographic data from Japan. 

The country’s bear market in babies almost matches its 30-year plus bear market in stocks, where the Nikkei 225 is still 17 percent below its December 29, 1989 price peak.  A prereq to sustainable long-term, vibrant economic growth is a growing labor force enhanced by productivity gains.  

An estimated 42% of adult Japanese women may end up never having children, the Nikkei newspaper reported, citing a soon-to-be-published estimate by a government research group..

Birthrates are a critical issue for Japan and other countries with rapidly aging populations. The island nation posted the fewest births in its recorded history last year, continuing a seven-year decline. With a smaller workforce and fewer taxpayers to sustain the world’s third-largest economy, Japan has become one of the world’s most indebted countries.  – Bloomberg