Thursday, May 23, 2024

 I have a theory about the economy. As we all know, the economy sucks. The high inflation is leading to reduced sales and reduced manufacturing. But why is the stock market soaring? I suspect that the investors are banking on AI to supercharge the bottom line of most corporations. As we've all seen, major corporations are falling over themselves to implement AI in the workplace. Soon, they will begin massive layoffs of workers whose jobs have been replaced by AI. When that happens, their profits will increase massively. The problem is that it's a temporary boost. Unemployed people don't have that much extra money to spend. And just what will happen when their unemployment benefits run out???? More government bailouts and more deficit spending. And that will equate to more inflation. Senior citizens are totally screwed. In ten years people will reminisce about being able to buy a small house or condo for less than a million dollars.

1 Comments:

At 4:20 PM, Blogger fairmarketvalue said...

10 years? Present day California, for all the usual reasons associated with Democratic one-party rule there.

 

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