It's not the total number of people that should be causing worry, but the number of retired people relative to those still working. Across the world, the ranks of retirees are swelling as the ranks of those working—and paying taxes to support retirees—are not keeping up. Something—or someone—has got to give.
If you think that your career advancement is based solely on your productivity, think again. As hard as it may be for Horatio Alger fans to accept, workers who are taller, thinner or better looking than the rest of us can have an edge.
Initially, Basel II will affect only the world's largest banking organizations. Eventually, the impact will trickle down to others. Some regional and community bankers, for example, might find it more difficult to survive. Consumers, on the other hand, could wind up with lower rates on home mortgages.