Why don’t you think Russia has a chance to turn around loss of population?
Vodka, the historic bane of Russian civilization.
Nations rely on their 20-40 year-olds to drive internal consumption. The 50-65 year-olds provide the capital and management expertise. The problem comes when they hit 65 and retire they move into T-bills and out of stocks.
When one of these age cohorts breaks down it puts stress on follow on cohorts and can lead to a death spiral. Is this a certainty? No. Should you bet against the demographics? I wouldn't.
WWG1WGA
Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)