1. 2013
Unsustainability and Transition
A Presentation by John Mauldin
Author of ENDGAME and Editor of
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2. Unsustainability
If something cannot be
sustained, it will change.
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3. What is Unsustainable?
A world in which
expenses rise
faster than income
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4. It’s the End of the World
As We Know It, and I Feel Fine
No, Better Than Fine—
I Am Excited!
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5. 1
Debt
The End of the Developed
World Debt Supercycle
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6. 2
Unbalanced Entitlement
Promises,
Primarily Pension and Health
Care
(Think Demographics!)
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7. The World and Especially Progress is
NOT Linear
What is NOT Unsustainable
Food, Energy, Technological Change, Human
Adaptation and
Most Importantly Growth
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8. Where are the
Current Sources of Unsustainability?
1. Japan
2. Europe
3. The US
4. Maybe China
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9. Japan: A Bug In Search of a Windshield
Ja
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10. Public Debt/GDP Projections
SOURCE: Bank of International Settlements
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11. France is the New Greece
SOURCE: Bank of International Settlements
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12. A Thought About Austerity
Of Course it Doesn’t “Work”
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13. One Bubble to Rule Them All
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14. The Great Experiment
Keynes
VS
von Mises
VS
Fisher
VS
Friedman
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15. Enter the New Economic Paradigm
The World of Schumpeter and Minsky
Stability, Instability and Creative Destruction
Joseph Schumpeter
and Hyman Minsky
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16. 4
The Millennium Wave:
A World of Accelerating
Change and Abundance
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17. 2013
The Transition to Sustainability
Investment Theme:
Avoid What is Negatively Affected
by the Unsustainable and
Choose What Is Sustainable
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18. What is The Characteristics
of Sustainable?
1. It Serves Basic Human Needs
-Food, Clothing, Housing, Social Networks!?!?
2. It is Adaptable and Antifragile
-Technology, Communications
3. It Creates Ever Increasing Abundance at
Lower Costs
- Biotechnology, Robotics, Nanotechnology, Etc.
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19. For more information visit JohnMauldin.com
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