Automation is gradually replacing human labor around the world on the job market. Early this year, a study carried out by Oxford University in the United Kingdom revealed how the rapid development of Artificial Intelligence (AI) would soon put many people out of work, especially the middle classes in Western societies. The study revealed that by the … Continue reading Bill Gates Strongly Suggests Taxing Robots if they Replace Human Labor on the Job Market
by Charles Hugh Smith We're ceaselessly told/sold that the U.S. economy is doing phenomenally well in our current slow-growth world — generating record corporate profits, record highs in the S&P 500 stock index, and historically low unemployment (4.9% in July 2016). While GDP growth is somewhat lackluster by historical standards—less than 2% in 2016—it's … Continue reading Reality of the “Trickle Down” (false) economy
More than 10,500 Brits have registered their interest to consider moving to New Zealand, following the UK's unprecedented decision to exit the EU New Zealand has seen a ten-fold increase in Brits seeking to move, in the 49 days since the referendum result. The New Zealand Herald ran a front-page story on Monday (August 22), warning Kiwi citizens to brace … Continue reading New Zealand bracing for “British Invasion”
What sense does it make to have zero interest rates when high inflation is eating away the real value of money? What sense does it make to have high price/earnings ratios when the consumer market cannot expand? What sense does it make to have a stable dollar when the Federal Reserve has created far more … Continue reading How Long Can Economic Reality Be Ignored?
On an afternoon stroll through the cobblestone streets of Florence, Italy, you might stumble into a nearby market and pick up some fresh produce for dinner. Maybe you’d even pop into a local boutique to try on the latest designs, and perhaps you’d end the afternoon with a cup of gelato and a visit to the Piazza della … Continue reading Why a City’s “Walkability” Matters