Tag Archives | middle class

84% of world population have incomes below US poverty line

One of the great myths of our time has been that vast numbers of people in the developing world have suddenly become “middle class”.  This myth seemed to grow out of a confusion between the phrase “middle income” and “middle class”.  Every country has people who are “middle income”.   But as we discussed in Boom, Gloom […]

Continue Reading

Ageing consumers from Chile to China need affordable, quality goods and services

The New Old 55+ generation is the key demographic for future consumer spending.  Their numbers are rising rapidly as global life expectancy has risen by 50% since 1950. Over the same period, global fertility rates have halved.  So there will be fewer younger people joining the wealth-creator generation of 25 – 54 year-olds that has historically driven economic […]

Continue Reading

Surprise! Economists suddenly wake up to reality about China

“Forget the Crimea annexation or a U.S.-Russia standoff. The biggest international threat to U.S. economic growth is the slowdown in China, say economists polled by The Wall Street Journal (WSJ).” That was last week’s headline in the WSJ.  These, of course, are the same economists who have been busy telling us for years that China […]

Continue Reading