Charles Goodhart Warns: Higher Interest Rates and Inflation Are Coming

Economist Charles Goodhart explains his thesis of higher interest rates and inflation coming to the US economy due to the growing dependency ratio. He predicts that the rapidly increasing elderly population will not be able to work but will need care, increasing the ratio of consumers to producers.
0:00 Introducing Charles Goodhart and Manoj Pradhan
4:17 Globalization and technology caused deflation
6:22 Young population declining while older population increasing rapidly
6:59 Government deficits are growing rapidly
8:41 Will interest rates go up?
11:44 Japan is aging itself out of existence with its extremely low birthrates.
12:55 Aging population will need care, so the labor force will shift
15:08 All major economies will have a demographic decline
16:39 Increase in women in the workforce increased GDP
18:41 Retired will make up a larger percentage of the population
23:00 Japan's GDP has been growing by 1% despite a shrinking workforce
26:18 Debt ratios have increased sharply but interest rates fell sharply
30:18 We would be lucky to hold inflation at 4-5%
34:39 What is Goodhart's law?
39:04 Charles Goodhart's new book: The Great Demographic ReversalShow more

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