[who_would_fardels_bear]

"The United States failed to produce a new generation large enough to buy the existing housing stock, or fund existing pension programs, or maintain the wealth that the West thought it had"

It is a central tenet of Communist economic theory that Capitalism requires a continuous increase in demand in order to hold together, i.e. Capitalism is itself a Ponzi or pyramid scheme.

Is this guy a communist?

If Capitalism is indeed a good theory (which I believe it is) then it should work regardless of changes in demographic trends. To suggest otherwise is to suggest that Capitalism is wrong, and that maybe Marx was right.

[WayneLusvardi]

As I understand it, the person who came up with the life-cycle theory of the economy was Milton Friedman.