How the rest of the world can avoid following Japan into economic slumber

“A thought crossed his mind: How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans.”

― Michael Lewis, The Big Short

Racism, the toxic social issue that dominated the social discourse of the ‘90s and early 2000s, is soon to be replaced by an even uglier phenomenon: Ageism - as each social group pulls towards its opposing financial incentives.

According to research by the Insured Retirement Institute (IRI), 45% of baby boomers in the US have no retirement savings at all. Only 55% of boomers have some retirement savings and, of those, 28% have less than $100,000. This means that half of American retirees are, or will be, living off Social Security benefits. The UK and Europe paint an even gloomier picture.