Excellent article. We haven’t really explored the meaning of demographic decline nearly adequately. It clearly means that every business, in the aggregate, will have fewer customers next year than last. Every investment vehicle will have fewer participants. Colleges and primary schools will be in a race to the bottom to find pupils. As time drags on, the results of this will become surreal. A world designed for a large population will wind up largely abandoned. Skilled labor will be in desperately short supply. Whole segments of the aging population will be unable to get the help they need at any price. We could be headed for a biblical die off and we’re just sleepwalking into it.