Argonaut Capital’s David Gerstenhaber: America’s Ugly Demographics Is Destiny For The Market

David Gerstenhaber

[credit provider=”CNBC”]

Some good stuff this morning on CNBC from former Tiger Capital manager and Argonaut Capital chief David Gerstenhaber.His most salient point thus far concerns demographics, and the iron-clad maths working against US equities.

It’s as simple as this: In the 60s, young professionals were seeing their salaries increase regularly, with few shocks to scare them, and few substantial costs to plan for.

Today: Those same folks have seen their net-worth decline by 50%, they’re planning for retirement, and they may have substantial costs related to children and education.

Thus the demographics — which is frequently cited as the guiding force behind the Japanese malaise — threatens US markets, and the future robustness of the US economy.

We’ll have full video and key points later.