Sometimes in technical analysis you hear the term “death cross” to indicate when one indicator has crossed another indicator, signaling some bearish market action.
But here’s a literal death cross.
Michael McDonough — chief economist at Bloomberg LP — tweeted this chart of births and deaths in Japan.
As you can see, it was around the middle of the last decade when deaths began to outnumber births.
Even with Abenomics, it’s really hard to see how the Japanese economy can return to its golden years.