In a world with a constantly shrinking population, what investment is expected to grow over time?

- Stocks are a melting ice cube selling to a perennially shrinking consumer base.

- Bonds offer low returns and suffer from credit risk due to the above. Do we really think Japan is good for their 2055 bonds, assuming no inflation or debasement?

- Property also faces challenges with a shrinking population. Rural Korea, Japan, Italy and other places are already full of housing and commercial buildings selling for $30k and they're all overpriced.

The truth is that there is no model of retirement -- not the state model, private investment model, or family model that works in a world where the population is shrinking 50-70% per generation.