Similarly, in Turkey the fertility rate fell from 5.2 in the early 1970s to 2.7 in the late 1990s.

In Indonesia, the decline in fertility rates was about the same.

In other words, the Chinese are very far from replacing themselves, and the Indians are only slightly above the replacement rate.

The EFR stands at around 2.4 for the world as a whole, barely above the replacement rate.

The current birth rate is 1.4 (well below the replacement rate of 2.1), and the Japanese are resistant to accepting large numbers of immigrants.

In other words, the Chinese are very far from replacing themselves, and the Indians are only slightly above the replacement rate.

Against the background of much faster potential growth, only a minor effort is needed to keep the debt ratio around the 40 level.

On the contrary, said the followers of Milton Friedman, it must keep the velocity adjusted rate of growth of the money stock stable.

Okay, well this was a week of my life in sleeping, and you get a Z.Q. score. Instead of an I.Q. score, you get a Z.Q. score when you wake up.

The labor participation rate for women with post secondary education is 64 , far exceeding the 35 rate for those with only a primary or middle school education.

The rising dependency ratio expected to exceed 50 by 2030, when 36 of the population will be above the age of 65 could spell disaster for the country.

That is still far below the replacement rate of 2.1, but higher fertility, together with successful measures to reduce male mortality, has slowed the pace of population shrinkage.

In addition to this increase in the real cost of debt service, deflation would mean higher loan to value ratios for homeowners, leading to increased mortgage defaults, especially in the US.

This, of course, raises the broader question of whether declining birthrates, in Russia and elsewhere, imply a crisis of the liberal idea of freedom, with its focus on individual rights?

According to IMF calculations, to reach a 60 debt ratio in 2030 would require a budgetary adjustment of almost nine percentage points of GDP on average between 2010 and 2020.

It may not be wrong, but the authors should provide a credible explanation of why their pre war CDR is nearly half that of the UN Population Division.

Strikingly, one hour north of Wall Street, in Bridgeport, Connecticut, the Gini coefficient a standard measurement of income distribution and inequality is worse than in Zimbabwe.

Clearly, the belief that liberalism is at fault for declining birth rates and dysfunctional families has gained currency in the West, which now produces popular books like Pat Buchanan s

In March 2009, the S P 500 index was down to 660, earnings per share (EPS) of US companies and banks had sunk to a financial crisis low, and price earnings ratios were in the single digits. Today, the S P 500 is more than 100 higher (hovering near 1,430), the average EPS is close to 100, and P E ratios are above 14.

In Tunisia, the average fertility rate has dropped from 6.2 in the 1970s to 2.3 today, just slightly above the 2.0 average in the US.

They calculated that 75 to 80 of economic growth did not come from increasing the capital output ratio at least not if the private marginal product of capital was taken as an indicator of the social marginal product.

Clearly, the belief that liberalism is at fault for declining birth rates and dysfunctional families has gained currency in the West, which now produces popular books like Pat Buchanan sThe Death of the West.

BEIJING On the eve of Chinese New Year, the People s Bank of China (PBC) surprised the market by announcing for the second consecutive time in a month an increase in banks mandatory reserve ratio by 50 basis points, bringing it to 16.5 .

Today, the S amp P 500 is more than 100 higher (hovering near 1,430), the average EPS is close to 100, and P E ratios are above 14.

With all this competition, the hurdles to achieving alpha returns above a risk adjusted benchmark and thus a measure of success in picking individual investments are getting higher and higher.

First, it has often been pointed out that austerity can be self defeating, because a reduction in the fiscal deficit can lead in the short run to an increase in the debt GDP ratio if both the debt level and the multiplier are large.

In March 2009, the S amp P 500 index was down to 660, earnings per share (EPS) of US companies and banks had sunk to a financial crisis low, and price earnings ratios were in the single digits.

But the long term decline in the ratio of aid to GNP did not stop the rich world from promising time and again to reach 0.7 of GNP, including at the Rio Earth Summit in 1992 and the Copenhagen Summit on Social Development in 1995.

To make matters worse for the future of Japan's population, the country's fertility rate has been about 1.41 births per woman, putting it well below the population replacement rate of about 2.1 (the average number of children born per woman to replace the population for nearly forty years since the 1970s).