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www.JohnMauldin.com
2013 Unsustainability and Transition
A Presentation by John Mauldin
Author of ENDGAME and Editor of
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Unsustainability
If something cannot be sustained, it will change.
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What is Unsustainable?
A world in which expenses rise
faster than income
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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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Debt
The End of the Developed World Debt Supercycle
1
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Unbalanced Entitlement Promises,
Primarily Pension and Health Care
(Think Demographics!)
2
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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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Where are the
Current Sources of Unsustainability?
1. Japan
2. Europe
3. The US
4. Maybe China
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Japan: A Bug In Search of a Windshield
Ja
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SOURCE: Bank of International Settlements
Public Debt/GDP Projections
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France is the New Greece
SOURCE: Bank of International Settlements
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A Thought About Austerity
Of Course it Doesn’t “Work”
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One Bubble to Rule Them All
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Keynes VS
von Mises VS
Fisher VS
Friedman
The Great Experiment
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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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The Millennium Wave: A World of Accelerating Change and Abundance
4
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2013
The Transition to Sustainability
Investment Theme:
Avoid What is Negatively Affected
by the Unsustainable and
Choose What Is Sustainable
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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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For more information visit JohnMauldin.com
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