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- March report "How Revolutions, Wars and Plagues are Harbingers of 'Great Changes' in Societies and in Economics" published. http://bit.ly/2y4LJZQ
- Drop in Gold Output Expected as Mining Companies Lose Money @SchiffGold http://t.co/99AYQaC37g
- The US Is Already in a Recession; Get Ready for Some Crazy Monetary Policy https://t.co/AEiTmQxmT7 @SchiffGold
- CEO who raised price of drug by 5000%
- The Aug. Empire State Manufacturing Index plunged to -14.92, its lowest level since April 2009, missing expectations by the most since 2010!
- Dow Jones down 6% from its highs & falling fast. How much more will it fall before the Fed stops pretending the data supports a rate hike?
- 🔴 Ep. 315: 2017 GDP Growth Looks like Obama 2.0: http://bit.ly/2CRziVM via @YouTube
- The governor of Puerto Rico is asking for a $5 billion loan. But Puerto Rico already has over $70 billion in debt it can't repay!
- My latest podcast: FOMC Minutes Confirm Fed Rate Hike Rocket Not Ready For Sept. Liftoff @SchiffGold http://bit.ly/1UVsBCd
- Question: If the Fed is about to interest raise rates how will they prevent the stock market from crashing? Answer: By not raising rates!
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.