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Projected U.S. population size by immigration scenarios The line labeled “historical” roughly tracks the immigration trends of the previous decade. The “high” line is nearly double the historical level, and “low” is roughly half. Depending on which path the country follows, the U.S. could have decades more or decades fewer of population growth. The zero-immigration projection is unrealistic. The U.S. always has some level of immigration, including illegal entries, and no major politician is talking about banning all legal immigration. Still, that projection is helpful because it shows how important immigration is to population growth. With no more immigrants, U.S. population growth would flatline this year. Many Americans favor lower levels of immigration. They worry that new immigrants take jobs and reduce pay. They also fear that the new arrivals can change a nation’s culture. Immigration, especially the illegal kind, has fueled political instability around the world. Racism and xenophobia also play a role. But immigration has benefits. It has helped keep America’s economy ahead of its peers’ in the aftermath of the pandemic, as my colleague Lydia DePillis wrote. Without more immigrants, the economy and social programs could suffer in the coming decades. The U.S. could follow the path of other economies that have stagnated along with their population levels, such as Japan and potentially China. ADVERTISEMENT A global situation Image A row of women sat on the floor with babies, reading books. In Frisco, Texas.Credit...Meridith Kohut for The New York Times Of course, there is another way that the U.S. could increase its population: Americans could have more children. But that seems unlikely. Historically, people have fewer kids as they become wealthier and gain more access to birth control. Fertility rates have declined for decades, and most rich nations now fall below the so-called replacement rate of 2.1 babies for every woman. Some countries have tried to persuade people to have more children. Those attempts, in Hungary, Sweden, Singapore and elsewhere, have generally failed. They appear to get people to have children earlier, but not to have more kids.

Stocks in Japan Hit Record High, Surpassing 1989 Peak Stocks in Japan rose to a record high on Thursday, surpassing a level last seen 34 years ago when the country was at the peak of its economic ascendancy, before it sank into decades of low growth. The Nikkei 225, a benchmark stock index in Japan, moved 2.1 % higher to 39,098, breaking through its previous high of 38,915.87 reached on Dec. 29, 1989. Stocks in Japan have been on a broadly steady rebound for over a decade, but they have moved sharply higher in the past year. The Nikkei is up 17% since the start of 2024. Thursday’s rally came after bumper earnings from Nvidia, the maker of chips used in artificial intelligence, started a global wave of rising stock prices. The Stoxx Europe 600 index hit a record, and S&P 500 futures were more than 1% higher. Read the full article here: https://lnkd.in/ec3aG--i

The Canadian federal government, under Finance Minister Chrystia Freeland, is extending the ban on most foreign ownership of Canadian housing until 2027 to alleviate pressure on domestic housing supply and prevent homes from being speculative assets. This move impacts Toronto Mayor Olivia Chow's plan to raise revenue through a foreign home buyers tax, as the federal ban diminishes potential earnings. While the ban's full impact on the housing market is still being evaluated, initial data suggests a decline in luxury home sales by foreigners post-implementation. Read the full article here: https://lnkd.in/ehRMB2PN

A sluggish fourth quarter marked the close of a lackluster year for global startup funding in 2023, with venture capital investors remaining cautious. The year witnessed the lowest venture funding since 2018, plummeting by 38% to $285 billion, down from $462 billion in 2022. The US market's influence on the global scenario became evident, with a downturn in tech stocks, a sluggish IPO market, and 2021 valuations proving unsustainable. Tech layoffs, reduced capital deployment, and heightened investment criteria added challenges for startup founders. Amid this, AI emerged as a standout sector, securing close to $50 billion, a 9% increase from 2022. Notably, foundation model companies like OpenAI, Anthropic, and Inflection AI led with a combined $18 billion in 2023. Sectors like Web 3 faced a significant decline from $28 billion to $7.6 billion, while financial services, e-commerce, shopping, media, and entertainment also experienced downturns. Early-stage funding took the hardest hit in 2023. Looking ahead to 2024, the funding landscape demands resilience and a robust strategy from startups and established businesses. Clear deployment plans and responsible financial management will be crucial. Shrinking operational costs, increasing margins, and exploring debt options for established businesses are recommended. Grus Capital stands ready to address funding queries for startups at Info@gruscapital.com or +1 (416) 366-4847.

As the holiday season is upon us, I wanted to take a moment to extend my warmest wishes to the entire Grus family as well as our clients. May your Christmas be filled with joy, laughter, and the company of loved ones. Thank you for your continued dedication and hard work throughout the year. Here's to a well-deserved break and a prosperous New Year ahead. Merry Christmas! Best regards, Edgar Costa