link: http://bit.ly/1h5p6Kk
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- If #Trump really wants to reduce America's trade deficit he needs to slash regulations and massively reduce government spending, including entitlements. That will free up resources to investment in plant, equipment and worker training that will improve our global competitiveness.
- It's a myth is that breaking a shopkeeper’s window will ultimately boost the economy. http://bit.ly/2x6ibKK
- To save the stock market while pretending the "recovery" in still on track, the #Fed used low oil prices as its excuse to turn more dovish.
- Had the same 2% inflation assumption used to calculate Q1 #GDP been applied to Q2, the reported growth rate would have been just 1.6%!
- Production is declining and this is going to put an enormous amount of pressure on prices down the road. http://bit.ly/2ilUyqo
- The tax code itself creates incentives, and tax cuts can help change those incentives in positive ways that boost growth. http://bit.ly/2B7pwia
- Malinvestment and the Austrian Business Cycle, as explained by Yogi Berra
- From FX Street. https://t.co/GlQoCBfVRN
- #Macy's stock price is down over 40% in the past 3 months on weaker sales. This supports my forecast for a weak holiday shopping season.
- Opinions on Thomas Sowell?
Sunday, August 23, 2015
What if the Luddite fallacy isn't a fallacy forever?
Personally I'm not fond of the neoluddite freak out going on right now, but I do think there is a little truth to it. It's pretty logical that we have been working toward a low-effort high yield economy. So it only makes sense that underemployment is becoming a trend. I personally believe the emerging gig/sharing/freelance economy is a natural market reaction. But the problem is that in the long term these jobs will become more and more subjective, to the point where a human presence would be pure novelty. Not to say we're anywhere near the point of a novelty economy, but it's definitely worth planning ahead of. I'm asking here because the only thing I ever hear as a solution is UBIG, reverse income tax and citizens dividend. Some even say that we'll naturally abandon money all together. Not to say I would reject money for nothing, but when all is said and done it may be too much to ask and abolishing money would take a catastrophic transition.