Summary Global annual population growth peaked in 1988 and is decelerating. Global annual population growth is estimated to be back to 1950 levels by 2050 but the bulk of "growth" will be among 65+ year olds living longer…not greater births. Substituting lower interest rates and encouraging more debt for declining population growth (consumption) was and is a tragic error by our central bankers. The idea that global population growth will perpetually drive increasing demand for food, natural resources, real estate, consumer goods, and global trade is a common theme. This idea of ever greater demand drives most investors thinking and actions. The premise the world currently operates under is that demand (consumption) will grow driven by population increases coupled with wage increases and be magnified by access to credit. The resultant growth will allow rapidly growing debt to be serviced / paid by even more rapidly growing global trade. […]