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Friday, March 29, 2024

Population Deflation: Spain Joins Germany with Negative Net Birth Rate; Italy on Threshold; Who’s to Blame?

Courtesy of Mish.

On the demographic front things are not looking so good for the eurozone.

With declining birth rates and the aging of the population, Mario Draghi will struggle to produce inflation in a population deflationary environment.

Spanish Birthrate Plummets

Please consider Spain Dying as its Birthrate Plummets.

Spain’s population will fall by more than five million over the next 50 years, according to a forecast that raises the prospect of even more “ghost villages” around the country.

In the first six months of this year, Spain recorded 225,924 deaths and 206,656 births, the national statistics institute reported. The country has not seen deaths exceed births consistently since the civil war, from 1936 to 1939, and before that the 1918 Spanish flu pandemic.

Time for Spain to Address its Plummeting birth rate?

The English version El Pais asks Is it time for Spain to address its plummeting birth rate?

Figures from the National Statistics Institute (INS) show there was a peak in 1944, with 23 births per 1,000 inhabitants. But that number bottomed out in 1998 when only nine births per 1,000 were reported.

“We have seen an incredible decline in the birth rate, which has been cut by half since 1975, and this trend is here to stay,” says Andrés, of the University of Palencia.

But for Julio Vinuesa, a demographer at Madrid’s Autónoma University, the study doesn’t provide any new information, but simply reiterates the fact that there has been “a drop” in Spanish birth rates.

“We are witnessing a rapid decline in births and it seems that nobody cares. In the short term it is a relief because it means less spending for families and for the state, and nobody is complaining because no one stops to think about the future consequences,” he says.

British economist Paul Wallace, author of Agequake, which investigates the causes and effects of population aging, has argued that the major investment for any society must be in its own replacement. In this case, Spain has failed.

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