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A new study by The Pew Research Center shows that the birth rate in the United States has dropped to the lowest level since 1920, when reliable statistics were first made available.

The birth rate dropped precipitously last year to only 63.2 per 1,000 women of childbearing age (which is defined as 15 to 44 years of age). That is half of what it was in 1957 at its peak.

Most people aren't troubled by this — but they should be. Here's why.

Our low birth rate has tremendous implications at all levels of our society. What's more, it is yet another sign that we are turning Japanese.

Now I know the idea that we are becoming more and more Japanese-like is not without its fair share of criticism.

People question me all the time about it – challenge me is more like it – arguing that the United States is different. That somehow, unlike Japan, we're going to escape the economic mess we've created for ourselves.

Having spent more than 20 years closely involved in Japanese society as a businessman, a husband, a father, and a part-time resident, I think that's wishful thinking.

The truth is any population decline in the United States will have severe implications for our economic way of life exactly the way it has in Japan.

And it's not just the numbers of births that matter, but rather all of the things that stem from low birth rates years down the line.

The Future Pitfalls of the Decline in U.S. Birth Rates

For example, a lower birth rate means fewer job prospects in the future. It also means fewer workers feeding into a system that actually requires more workers to support the greying society we live in.

With declining birth rates, Japan is now expected to drop from 2.8 workers supporting each retiree in 2008 to 1.5 by 2050.

Here in the United States, our trend is headed in the same direction, where a mere 2.6 workers will be expected to support each retiree by 2050. That's a 44.68% decrease from the 4.7 workers in 2008 — and a whopping 85.65% reduction from the 42 workers who supported each retiree at the end of WWII.

There are implications in terms of health care rationing, too. It will affect home care, assisted living, traffic, mobility, technology, and taxes. Especially taxes…

In an ultra-low-yield market like this one, it's not surprising that we get a lot of questions from folks who are seeking high-yielding – but safe – income investments.

A recent note from Private Briefing subscriber Richard P. is a good example.

"Bill: I own a couple MREIT (Mortgage Real Estate Investment Trusts) stocks. They typically have very high dividend yields. Both of them are doing well (over 20% gain in core value), on top of the high dividends they pay.

"I have a few questions about them:

• What are the risks in holding these kinds of stocks?
• What economical shifts will affect them down the road?
• How long should we hold onto them?
• They seem too good to be true sometimes … are they?
• Can you recommend particular MREITs based on the particular company's investments/risks/methodology?"

Great questions, Richard – you clearly put a lot of thought into this and we appreciate you sending them our way.

In fact, I suspect that lots of other income-seeking readers have similar questions.

To get you some answers, I turned to our own Martin Hutchinson, editor of the Permanent Wealth Investor, an advisory service that specializes in income-enhancing strategies.

At a recent Money Map Press strategic planning session. we found a quiet corner to talk this through on one of our breaks.

Here's what Martin had to say…