NYEXPAT
Thinks s/he gets paid by the post
One word "BLOCKCHAIN",or is that two words?
We are more likely to have advanced technology simultaneously with poverty, crimes, drug abuse, political unrest, etc...
The $1000 bonuses companies are giving, I don't see as generous. Why not give raises if the new tax plan is so awesome? The middle class drives our economy. Credit drives our economy.
I can guarantee the factories in Connecticut are not coming back, and neither are the thousands of jobs that went away. Sad.
The $1000 bonuses companies are giving, I don't see as generous. Why not give raises if the new tax plan is so awesome? T
I'm looking at the S&P P/E ratios today and thinking wow, people sure are optimistic about future growth.
That's absolutely true even now. But once AI is equal to or superior to human intelligence, then there are no jobs whatsoever that won't be better done by robots. None.
I do sometimes wonder if we will have to do like ancient Rome and Constantinople did and provide bread and video(virtual reality) games as Clarke suggested in the City and the Stars.
My gues would be between 18-20 PE so planning a 20-33% gain for 2018 myself
Seems to me that in the developed world, manufacturing based economies are becoming as obsolete as farming based economies have already become. Today we have more farm production than ever, but we are long past being a farming based economy. In the future I would bet there will be more manufacturing than ever, people never seem to run out of things to want, but our economy will never again be based on it. The accelerating progress of scientific and technological innovation, notably machine intelligence and low cost of data and information flow, has made that change inevitable. The real question now is how we as people and nations will deal with it. Such profound dislocations will have profound repercussions, and neither politicians of the right or the left seem to want or know how to deal with it. We are in for some rough weather.Underground coal miners. Although we have been automated for decades, it takes a human to make a decision about a lot of things underground. And although some will say that coal powered electricity will be eliminated, it will be the base power source if we want a manufacturing based economy. Nuclear could replace it, but it has to be mined, although not by as many people.
That's absolutely true even now. But once AI is equal to or superior to human intelligence, then there are no jobs whatsoever that won't be better done by robots. None.
Seems to me that in the developed world, manufacturing based economies are becoming as obsolete as farming based economies have already become. Today we have more farm production than ever, but we are long past being a farming based economy. In the future I would bet there will be more manufacturing than ever, people never seem to run out of things to want, but our economy will never again be based on it. The accelerating progress of scientific and technological innovation, notably machine intelligence and low cost of data and information flow, has made that change inevitable. The real question now is how we as people and nations will deal with it. Such profound dislocations will have profound repercussions, and neither politicians of the right or the left seem to want or know how to deal with it. We are in for some rough weather.
IMO, been like that since the Romans ruled the world.
As William Gibson wrote: "The future is here. It's just unevenly distributed."
December jobs report: U.S. economy added 2 million jobs in 2017 - Jan. 5, 2018Today's jobs report shows that fewer jobs were created in 2017 than in 2016.
I guess I should have been more specific, I was not referring to the ebb and flow of jobs during business cycles, but rather to the long trend over what will probably be many cycles. We did not change from a primarily farming economy to a primarily manufacturing one over one or two business cycles, and we will not be moving out of being a primarily manufacturing economy over one or two business cycles either. But the trend is unstoppable. Technological change is simply moving too fast and accelerating. There will be a smaller and smaller percentage of the population engaged in direct manufacturing in the future, worldwide. We should not allow the ups and downs of the business cycle to obscure that trend, and what we should do about it. My point, I think was, that while we focus on the current cycle, we are not looking at what we want to do for the future of this much larger and more profound change. Thus my remark about a future of stormy weather. Along the way there will be those trying to sell us umbrellas, storm drains, and tin foil hats, but just as those engaged in those first manufacturing jobs had miserable lives, those that live in a post manufacturing world just might too. I don't think it has to be that way, but who knows. Certainly not me.In the last 4 years manufacturing jobs have increased over 9 percent by more than one million jobs even as the economy has grown at a slower rate. Construction Jobs in the last four years has risen by over 25% to 6 million workers. It is true that since 2000 the US has lost about 5 million jobs, even after gaining 1 million back recently. However China has gained, thanks in large part to extremely low shipping costs of goods, 16 million manufacturing jobs to 100 million manufacturing jobs up to nearly $3.60 in wages hourly and Mexico has gained 1 million manufacturing jobs, from 4 million to a little over 5 million at $2.48 cents per hour. I think finance and cost has a lot more to do with manufacturing jobs than the takeover by robots, by robots sell more video commericials for websites