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www.JohnMauldin.com 2013 Unsustainability and Transition A Presentation by John Mauldin Author of ENDGAME and Editor of www.JohnMauldin.com

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Trend Following/Managed Futures

www.JohnMauldin.com

2013 Unsustainability and Transition

A Presentation by John Mauldin

Author of ENDGAME and Editor of

www.JohnMauldin.com

www.JohnMauldin.com

Unsustainability

If something cannot be sustained, it will change.

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What is Unsustainable?

A world in which expenses rise

faster than income

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Its the End of the World As We Know It, and I Feel Fine

No, Better Than Fine

I Am Excited!

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Debt

The End of the Developed World Debt Supercycle

1

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Unbalanced Entitlement Promises,

Primarily Pension and Health Care

(Think Demographics!)

2

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The World and Especially Progress is

NOT Linear

What is NOT Unsustainable Food, Energy, Technological Change, Human

Adaptation and

Most Importantly Growth

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Where are the

Current Sources of Unsustainability?

1. Japan

2. Europe

3. The US

4. Maybe China

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Japan: A Bug In Search of a Windshield

Ja

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SOURCE: Bank of International Settlements

Public Debt/GDP Projections

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France is the New Greece

SOURCE: Bank of International Settlements

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A Thought About Austerity

Of Course it Doesnt Work

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One Bubble to Rule Them All

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Keynes VS

von Mises VS

Fisher VS

Friedman

The Great Experiment

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Enter the New Economic Paradigm The World of Schumpeter and Minsky

Stability, Instability and Creative Destruction

Joseph Schumpeter

and Hyman Minsky

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The Millennium Wave: A World of Accelerating Change and Abundance

4

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2013

The Transition to Sustainability

Investment Theme:

Avoid What is Negatively Affected

by the Unsustainable and

Choose What Is Sustainable

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What is The Characteristics

of Sustainable? 1. It Serves Basic Human Needs

-Food, Clothing, Housing, Social Networks!?!?

2. It is Adaptable and Antifragile

-Technology, Communications

3. It Creates Ever Increasing Abundance at Lower Costs

- Biotechnology, Robotics, Nanotechnology, Etc.

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For more information visit JohnMauldin.com