I don't think I've ever heard a guy nail modern society down quite like this.
What does nbr think about this one?
I think we're all fucked so might as well have a good time while it lasts.
Ha Ha! Made you look.
Requiem for the American Dream
Just started watching this last night. All of his points are very eye opening and sad. Even when he spoke of the Great Depression he said there was still optimism that it would get better unlike today.
It all started with Reagan, then went downhill from there.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
I watched it a few days ago and will probably watch it a 2nd time soon to really absorb it. Highly recommended.
Even Trump accidentally admitted that the only real way out for the US is to default and he was called on it by the media, yet the understanding of their situation by the media and the general public is so non-existent that he could brush it off easily.
Just as Puerto Rico said 'It's just math', the same is true for the US. They will ultimately be left with 2 options. Either default, or print money to pay the debt (which is essentially back door defaulting). They will have a a currency crisis either way.
Whatever bubbles to pop and financial meltdowns coming for China will be brushed off easily for the simple fact they own the world's manufacturing base and produce far more than they consume. The US will not be able to dig themselves out of their hole until they restore production capability which will take a decade or more, once they admit they are fucked (which I think is going to have to be pretty soon).
I don't think this bodes well for Canada. Depending on what relative measure you use for debt, Canada sits in some pretty good company. Japan, US, Spain, Greece. Not too comforting.
http://www.visualcapitalist.com/by-this-measure-the-u-s-has-the-2nd-highest-national-debt/
So the question is, will China buy Canada and keep our property bubble from popping, or will it pop first and then they can buy it for a discount? Or will we actually increase our productivity enough to pay off our debt, and increase the wealth of Canadians enough so we can afford our own property?
If there is one thing I have learned over the years it is that the answer is always way more nuanced than I expected. I think China will continue to buy Canada keeping the bubble alive in the short term and I think productivity will explode over the long term as AI takes over.
IMO It is more likely that the status quo will continue for a few decades until we are forced to deal with the issue because there is no work for anyone to do. I think the questions is will we catch the middle class before they free fall into poverty? Those with wealth and power have everything to lose if that were to happen including their heads.
Unless there is a massive war. :)
Is this on Netflix?
If there is one thing I have learned over the years it is that the answer is always way more nuanced than I expected. I think China will continue to buy Canada keeping the bubble alive in the short term and I think productivity will explode over the long term as AI takes over.
IMO It is more likely that the status quo will continue for a few decades until we are forced to deal with the issue because there is no work for anyone to do. I think the questions is will we catch the middle class before they free fall into poverty? Those with wealth and power have everything to lose if that were to happen including their heads.
Unless there is a massive war. :)
Is this on Netflix?
Yep, on Netflix.
You are absolutely right. Automation/AI is the huge disruptor that will have very hard to predict, but also very large effects. I think it has the potential to make our lives a whole lot easier, but as you say there could be trouble during the transition.
Apparently Switzerland is about to vote on a minimum guaranteed income for every man woman and child. The proposal is for about $1650US per adult tax free.
https://en.wikipedia.org/wiki/Swiss_referendums,_2016#Basic_income_referendum
http://www.thelocal.ch/20160510/swiss-basic-income-vote-what-you-need-to-know
Although I think this is a bit a shady idea at present (leading to people not wanting to work at all), I think this type of thing is going to be mandatory in the coming years (or maybe decades) as automation takes over and pushes the majority out of work. The transportation industry has very little time left and is one of the largest employers. Would be great if all that increase in productivity led to a 20 hour work week or something like that. Then we could all have jobs, but for half as much effort. I think it is the inevitable end game, but there could be a lot of pain getting there.
. Would be great if all that increase in productivity led to a 20 hour work week or something like that. Then we could all have jobs, but for half as much effort.
That's what they said the computer/desktop revolution would do. We would all have to take courses in how to spend all our riches and to help us figure out what to do with all our leisure time.
What it actually brought the majority was more work for less pay.
That's what they said the computer/desktop revolution would do. We would all have to take courses in how to spend all our riches and to help us figure out what to do with all our leisure time.
What it actually brought the majority was more work for less pay.
Good point. I think actually people work more now than they did pre-computer days.
But as CG Grey says "you may think we have been here before, but this time is different".
An interesting perspective…
https://www.youtube.com/watch?v=7Pq-S557XQU
I don't think I've ever heard a guy nail modern society down quite like this.
What does nbr think about this one?
I think we're all fucked so might as well have a good time while it lasts.
wtf do you care Canucklehead? Plenty 'o shit in your own backyard that needs shoveling, eh?
;)
Freedom of contract. We sell them guns that kill them; they sell us drugs that kill us.
Good point. I think actually people work more now than they did pre-computer days.
But as CG Grey says "you may think we have been here before, but this time is different".
An interesting perspective…
https://www.youtube.com/watch?v=7Pq-S557XQU
Once robots start fixing themselves then I'll be worried personally. Still a good video, definitely interesting stuff to think about
Ha Ha! Made you look.
Good video….I agree. I do think we will see a very sharp increase in Autos that will have a significant impact on employment.
Just kill'em all now…especially the Snowflakes
Man that was a depressing documentary. Some of it was new to me, like the American constitution being written to ensure the protection of the property of the "opulent".
:idea: What other kinda' document you think a posse of rich landowners would write anyways?
Freedom of contract. We sell them guns that kill them; they sell us drugs that kill us.
:idea: What other kinda' document you think a posse of rich landowners would write anyways?
Well it does make perfect sense doesn't it
http://www.marketwatch.com/story/foxconn-replaces-60000-humans-with-robots-in-china-2016-05-25
Foxxcon replacing 60,000 human jobs with robots. The article doesn't say much else of substance, but that's a whole lot of jobs in one hit.
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