The problem with the advanced West is not that it's broke, but that it's old and barren. Which explains why it's broke.
Take Greece, which has now become the most convenient shorthand for sovereign insolvency – "America's heading for the same fate as Greece if we don't change course," etc.
So Greece has a spending problem, a revenue problem, something along those lines, right?
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At a superficial level, yes. But the underlying issue is more primal: It has one of the lowest fertility rates on the planet. In Greece, 100 grandparents have 42 grandchildren – i.e., the family tree is upside down.