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by Patrick Cox
June 9, 2017
As things stand right now, most people won’t get the retirements they’ve been promised. Unless there are huge changes, Social Security, Medicare, and pension systems will be severely cut back. This will cause economic impacts worse than the Great Depression. But in two weeks, we should find out if we have a chance to solve the problem before it becomes a catastrophe.
On June 16, the FDA will decide whether or not the TAME clinical trial can proceed. TAME (Targeting Aging with Metformin) is an effort by leading gerontologists to create a legal pathway for the approval of drugs that delay or prevent the diseases of aging.
The Demographic Dilemma
In a perfect instance of synchronicity, the World Economic Forum just issued a white paper titled “We’ll Live to 100—How Can We Afford It?” It describes the massive scope of the growing retirement savings deficit. You can download a PDF of the WEF paper here.
El Jefe John Mauldin has written at some length about this report. When combined with data presented in the CBO’s 2017 long-term budget outlook, we’ve got a clear view of the financial cliff at our feet.
This is our problem. A shrinking base of younger workers can’t pay for our growing older population’s medical and retirement bills. As things stand now, serious cuts in payments to the aged are inevitable. These economic repercussions will not be limited to the aged.
Anti-aging Technologies Are an Answer to the Problem
The WEF paper makes some suggestions about fixing the problem, but it ignores anti-aging biotechnologies. This is unfortunate because we know there are drugs like metformin that would benefit most of us medically. Some even appear to rejuvenate those who are already older.
These therapies would enable dramatic increases in productivity. Nobel prize-winning economist Gary Becker has shown this to be the case. For his explanation of why improving health creates economic growth, download the PDF of Becker’s “Health as Human Capital.”
It’s intuitively obvious, though, that longer health spans reduce medical costs and enable longer working careers. This would increase savings, create economic growth and fund existing programs. But there is no legal pathway for the approval of anti-aging therapies.
The TAME trial is designed to fix that problem. Dr. Nir Barzilai, who is spearheading the effort, has said that the real goal of the TAME study is not the approval of metformin as an anti-aging medication. It would be extremely helpful, but the real benefit would be the creation of a regulatory pathway for more effective anti-aging therapies.
I’ve written about TAME previously, so I won’t repeat myself here. If you want more information, the American Federation for Aging Research has an excellent online resource. A green light from the FDA for the TAME trial would be a signal that the US government is waking up.
It wouldn’t solve the problem of aging. But it would be a necessary first step that would attract capital and increase the value of companies with potential anti-aging therapies.
Eventually, government must do more than get out of the way. As a society, we need to aggressively encourage existing anti-aging strategies. This includes existing life-style and nutritional options. In my fantasies, the Cleveland Clinic’s Chief Wellness Officer Dr. Michael Roizen would be promoted to Surgeon General and given the budget to change the way Americans think about health.
I’d also have the National Institutes of Health prioritize the identification and promotion of effective anti-aging therapies. In addition, a major anti-aging collaboration should be launched with Japan.
With world-class scientists and the oldest population in the world, Japan is uniquely qualified and motivated to address the aging crisis. Though Japan has lower birth rates and an older population than the US, we’re catching up. A record number of Alzheimer’s deaths is one indication.
I’m tracking multiple biotechnologies that appear to significantly delay the decline of vigor and the diseases of aging. This includes Alzheimer’s. I have no doubt that some will be approved. The question is: When?
On June 16, we’ll have a much better idea of how much pain we will have to endure before science solves our biggest economic threat.
— Patrick Cox is the editor of Transformational Technology Alert. Will We Begin to TAME the Age Monster in Two Weeks? originally appeared at Mauldin Economics.
Rod is one of our nation’s leading minds. He’s smart, original, and very committed—a combination that one rarely finds.
Rod Martin is a Reaganite-Thatcherite conservative…[and] a man who has spent much of his life ministering to and working for the benefit of others. I know Rod as an advocate for freedom, a leader who understands the real changes we need in Washington, and who has the drive and ability to make those changes happen.
Rod Martin is the kind of dynamic leader who has the knowledge, ability and experience to lead us successfully into the 21st Century. His vision for America is compelling.
Rod Martin literally wrote the book on excellence. Humble yet brilliant, a man of love and compassion, with penetrating clarity he illuminates the world around us, and we are both stirred and enlightened.
Rod Martin is a born leader and an outstanding political mind. Anyone who takes him on is going to have a serious fight on their hands.
Rod Martin is a man of uncommon vision and character. Ever since I first worked alongside Rod in the early days of PayPal, I’ve been struck by his powerful vision for the future. Rod understands the intersection of technology, politics and culture in a way that few others do.
Rod Martin wears with uncommon grace an uncanny ability to link his vigorous faith to the practical challenges of both the business world and the political arena. Yet the respect he shows for others carries a warmth and modesty that are both too rare among those who are strong advocates of feisty positions.
America badly needs more leaders who really get the future. We need more Rod Martins.
Rod Martin is a modern day philosopher-statesman. He is a capitalist intellectual, a conservative iconoclast, a gentle adversary and a kind prophet. He inspires us towards a fresh national vision built upon the original founding principles.
Rod Martin is not only effective and efficient, but he is also perceptive, wise and gracious. He gets things done. He is a great friend and a great ally.
Rod is one of the sharpest, most gracious men I know, and one of the most gifted political thinkers today. His ability to analyze issues and communicate thoughtful insights on them have earned him the respect of people across the political spectrum.
I am proud to have been Rod Martin’s friend for a quarter century, and I can tell you that he is one of the finest men and most outstanding leaders in our church and in our country today. He has a knack for turning everything he touches to success.
Rod Martin is a cornucopian entrepreneur and eutropic thinker whose influence radiates through an array of companies, institutions, movements and churches. A renaissance American, he is also a prolific friend of freedom and faith around the globe.
If Rod Martin represents the next generation of leaders, America has nothing to worry about.
A leader and a servant, in public life and in private, Rod Martin strides at the top of his profession, and has nowhere to go but up. He is in the truest sense of the word ‘outstanding’.
Rod Martin is undoubtedly one of the most accomplished thought leaders today. He is a wonderful mentor, a humble role model, and a deep inspiration for the next generation of scientific innovators and entrepreneurs.
Rod’s achievements pale beside his character and his brilliance. He sees what others can’t. He leads when others won’t.
Rod Martin is one of America’s finest young minds.
The future of technology is the future of America. Rod Martin sees that future clearly, and also sees how to shape it for the betterment of all. He is firmly rooted in the traditions of faith and patriotism that have made America great. That’s why he has made, and will make, so many outstanding contributions in so many areas.
