Below is an excerpt from today's Early Look written by Hedgeye CEO Keith McCullough which accompanies the chart above.
"For much of the next decade the population growth rate for Europe’s main spending cohort (35-54 year olds) is going to wallow at its most negative rate of change in modern history.
The USA’s is not.
There’s a handoff that just started between America’s baby boom generation and millennial generation that pivots the US population growth rate in the aforementioned 35-54yr old bucket to delta positive this year, then absolutely positive in the next 3 years.
Fortunately, most of our subscribers already know that.
...Especially the South of Europe’s SECULAR (demographic) problem of aging (and lower capacity to consume things like Retail Sales) is once again readily apparent in the reported data (today’s Chart of The Day breaks out Retail Sales by European country)."
