Transcript Thinking About the Future

Cumulative real growth ⌃ household financial
asset wealth
[astounding data across 5 regimes]
1
Source | Strategic Economic Decisions, Inc.
Mean-reverting dynamics ⌃ US net worth
[back to the future]
2
Source | Strategic Economic Decisions, Inc.
Household net worth ⌃
3
Source | FRB, J.P. Morgan Asset Management
Global Productivity Growth⌃
• “Productivity isn’t everything, but in
the long run it is
almost everything”
– Paul Krugman
• Growth rate of an economy is the sum
of workforce growth plus labor
productivity growth
International Economic and Demographic Data
US Business Competitiveness ⌃
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Institutions
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Infrastructure
efficiency
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Macroeconomic
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Labor market
Financial market
environment
development
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Health and primary
Technological
education
readiness
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Market size
training
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Business
•
sophistication
Higher education and
Goods market
efficiency
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Innovation
GDP growth, Gross debt to GDP ⌃ borrowing costs
7
Source | IMF, FactSet, Bloomberg, J.P. Morgan Economics, Barclays, J.P. Morgan
Average annual earnings ⌃ Highest degree earned
8
Source | Census Bureau, J.P. Morgan Asset Management
Unemployment rate ⌃ Education level
9
Source | BLS, FactSet, J.P. Morgan Asset Management
US Natural gas production ⌃
10
Source | EIA, IMF, FactSet, J.P. Morgan Asset Management
US sources of oil and liquid fuels ⌃
11
Source | EIA, J.P. Morgan Asset Management
Emerging economies poised to pass $3,000
GDP per capita threshold
12
CPI ⌃ Core CPI
13
Source | BLS, FactSet, J.P. Morgan Asset Management
CPI ⌃ Core CPI
14
Source | BLS, FactSet, J.P. Morgan Asset Management
Cumulative flows into stock and bond funds ⌃
15
Source | Investment Company Institute, J.P. Morgan Asset
Benefits of diversification ⌃
16
Source | Thomson Reuters Investment View
abacus
smart financial decisions
Annualized returns by asset class
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