Gross’ top investment picks for the future

'Technology may be leading to slower, not faster economic growth despite its productive benefits.'

4. Demographics

Demography is destiny, and like cancer, demographic population changes are becoming a silent growth killer, says Gross.

'Numerous studies and common sense logic point to the inevitable conclusion that when an economic society exceeds a certain average “age” then demand slows.'

'Now, however, almost all developed economies, including the US, are gradually ageing and witnessing a larger and larger percentage of their adult population move past the critical 55-year-old mark.'

'Such low birth rates and a significant reduction in demand have imperiled Japan for several lost decades now. A similar experience will likely turn many developed economy “boomers” into “busters” within the next several years.'

The full Bill Gross Investment Outlook can be read here.