Artificial Intelligence and its roll in the economy
There has been a constant discussion regarding AI on our blog and how it is impacting our economy. I asked Rick if he had some opinions on this topics and he said he sure did. Therefore we step away from the charts today and discuss how AI and technology in a broader sense is impacting our economy and needs to be considered when looking at the future world.
Click download link to listen on this device: Download Show
Dan Coats is back………just more of the same………jmho.
this is old Dick Lugar….Rhodes scholar should tell you something………
Trump getting closer to being the Trojan Horse………we will see……time running out…
Pilgrim Society at it’s best………lol
A eye……….is on everyone………
The machine is ran by the “all seeing eye.”..CIA
A I C………
The all seeing eye of AI is the – HAL 9000
Hal 90^0^0 with extra vision…….
+9000
Eye in the Sky
Speaking of Robotics taking jobs……
Now the Robots are even making our salads…..
___________________________________________________________________________
Chowbotics Introduces Sally the Salad Robot
April 5, 2017 /PRNewswire/ —
http://www.prnewswire.com/news-releases/chowbotics-introduces-sally-the-salad-robot-300435222.html
Technology could kill 5 million jobs by 2020
by Ivana Kottasova – January 18, 2016
http://money.cnn.com/2016/01/18/news/economy/job-losses-technology-five-million/
U.S. workers face higher risk of being replaced by robots. Here’s why
by Alanna Petroff @AlannaPetroff
March 24, 2017
http://money.cnn.com/2017/03/24/technology/robots-jobs-us-workers-uk/
Artificial intelligence: The impact on jobs
Automation and anxiety
Jun 25th 2016
“Will smarter machines cause mass unemployment?”
If, they do not get off their arces……and start doing some homework, that is a given..jmho
There will not be mass unemployment…….just death by a thousand cuts…..people will die earlier………chemtrail, gmo, lead in the water etc…….
Or maybe we’ll have a utopian leisure society that all live the life of luxury due to the machines….. 😉
the govt , will figure out how to kill people off by age 67, that way social security will even out…….no problem…..social security and medicare will last forever under the Roosevelt Plan…….work till you retire, die two years later…………..
What happens when the guy who is suppose to start the machine up, is to lazy to throw on the switch………
This sums up how it will go down well. This ties into the Matrix movie franchise.
Animatrix Scene Historical File 12
https://www.youtube.com/watch?v=SLNo4lMC8bM&list=PL6OGcJ7rIVeeKaKXLrfwd16BW1azcARcz
*** Give it until about 1 minute in to finally start making the larger point…
(hint eventually the robots march, demand rights, and then rebel) – big surprise!
“I Robot”…….
Here’s a pretty good documentary on the modern day interfacing of Robots with humanity, and what impacts may be manifested by our new creations:
> How Robots Will Change the World
America Building Robots Army for Future | New Documentary
oops…….machine out of order…….. 🙂
I like the way Utube, gets unplugged……..
We could all take a page from that book and “unplug”….
Sorry about that dead link (it was from an old KER post).
Try this one instead:
_____________________________________________________________________
Technology National Geographic Robots Will Change the World
Apr 26, 2016
Here’s an older one from the BBC:
How Robots Will Change the World BBC Documentary
Dec 26, 2013
motion picture make me dizzy…….. 🙂
this one could even make you car sick…….. 🙂
Don’t worry about that….. the cars will all be Self-Driving……
Olli, a 3D printed, Self-Driving minibus, to hit the road in US
June 16, 2016 by Rob Lever
https://phys.org/news/2016-06-olli-3d-self-driving-minibus-road.html
I am looking at 3 D tech……for housing……..
How about 3D printing in the dating scene. Program to you favorite settings….
Same thing with 3D printed Children (Talk about Designer Babies….)
Transhumanism
From Wikipedia, the free encyclopedia
This article is about the futurist ideology and movement. For the critique of humanism and related term, see posthumanism.
“Transhumanism (abbreviated as H+ or h+) is an international and intellectual movement that aims to transform the human condition by developing and making widely available sophisticated technologies to greatly enhance human intellectual, physical, and psychological capacities. Transhumanist thinkers study the potential benefits and dangers of emerging technologies that could overcome fundamental human limitations, as well as the ethics of using such technologies. The most common transhumanist thesis is that human beings may eventually be able to transform themselves into different beings with abilities so greatly expanded from the natural condition as to merit the label of posthuman beings”
The disruption of Workers by Robots is about to take a giant leap forward
David Pogue – April 5, 2017
https://finance.yahoo.com/news/disruption-workers-robots-take-giant-leap-forward-173952383.html
Robots will eliminate 6% of all US jobs by 2021, report says
“Employees in fields such as customer service and transportation face a ‘disruptive tidal wave’ of automation in the not-too-distant future…”
Rise of the Machines: The Future has Lots of Robots, Few Jobs for Humans
Martin Ford
https://www.wired.com/brandlab/2015/04/rise-machines-future-lots-robots-jobs-humans/
Meet the New Generation of Robots for Manufacturing
By JAMES R. HAGERTY – June 2, 2015
“They are nimbler, lighter and work better with humans. They might even help bring manufacturing back to the U.S.”
https://www.wsj.com/articles/meet-the-new-generation-of-robots-for-manufacturing-1433300884
Incredible Robots – Rise of the Machines
Naked Science – Nov 26, 2014
Good one Tad.
You mean you believe in God?
Absolutely horrific looking reversal candle put in on GCC today. Commodities are getting ready to dump bigtime. Can’t imagine the miners advancing in the face of that.
Good spot spanky. The charts are breaking down a little today but nothing major yet…
The Dow continues to absolutely pummel commodities. the best commodity bulls can hope for is a double top this month.
A missive I posted on WSJ today as a comment to the below linked “fake news” article. I thought some here may enjoy, to wit:
Maybe it was fake news back in the thirties when there was praised reporting on FDR’s direct assault on capitalism.
Maybe Keynes’ “General Theory” was a textbook for it all.
Maybe it took Madison Avenue to “Bernays” a once frugal bunch into leveraging up to buy the surplus production.
Maybe Hayek was right about the illusory road to our own enslavement.
Maybe LBJ was not being up front with us when he devalued our coins but fraudulently made them “look” the same.
Maybe August 15, 1971 was just the last straw death nail.
And since then we have been living in an economic fantasy land of leveraged up digital debt.
Maybe it has taken decades of “fake news” to make a once wise populace over medicate and over obligate itself.
Maybe the term “fake news” being popularized contemporaneous with Trump’s victory is no coincidence.
A lot of people have a lot to lose.
Maybe decades of deceit were on the defense.
Just maybe the attack on “fake news” is a transference of guilt.
The Buying Power of the U.S. Dollar Over the Last Century
BY JEFF DESJARDINSAPRIL 5, 2017
http://money.visualcapitalist.com/buying-power-us-dollar-century/
Since 2009 the Dow is up nearly 5x in *real* terms (i.e., vs commodities).
Since 1999 the Dow us up 2x in real terms.
Gold is up about six-fold versus the CRB since the 2000 low.
Geez spanky, sayin that is not very goldbugish.
Here I found a “goldbugish” editorial to even out the discussion 🙂
Gold – The Wait Is About To Be Over
Apr. 4, 2017 – Nikhil Gupta
This guy needs a new story line………until the cftc is out of order, fed is in charge
Remember , they have the robot machine…..
Agreed. I’m not saying I agree with his thesis…. merely that it was a “goldbugish” editorial 🙂
I had it in my email and was reading it on one computer when B made that comment, and just posted it while I was on that train of thought.
Honestly the old Gold narrative is tiresome, wore out, has been mostly incorrect since the 2008 collapse, but yet, it has risen in value in dollar terms and when measured against commodities, so there is some underlying validity to the “store of value” argument.
I like gold miners, because for now, Central Banks buy gold, and they dig it out of the ground. Gold’s been circulating through society in Jewelry, ordornments, and monetary use for thousands of years. That’s really all I need to know…..
agree………..
So people want (XXXX) ?
[Gold, Silver, Platinum, Zinc, Copper, Cobalt, Uranium, Oil, etc….] – “Yes the do”.
…. and this mining company has an “Economic” way to extract [XXXX] – “Yep.”
“Cool, that works for me….”
Paul Craig Roberts……at usawatchdog…….kind of says it all……concerning the fed, MSN, CIA, in Europe and USA…makes you think ….
Miners are not going to disappear…..so, I have to agree with your thinking…… 🙂
I should say the good miners are not going to disappear…..the lousy con men are….
Yes, I think the key is Economic and well run Miners won’t disappear. They are businesses not lottery tickets, and the companies that control their costs, have a good “Social Contract” with the local communities, and ones that have great deposits will stay around.
Many of the marginal or environmental train wrecks will go bye bye. (and rightfully so).
The Dow is still down vs gold since 1999, but it hasn’t even hit the first Fibonacci retrace level yet. vs silver, it already hit the 38% retrace and looks set to get to the 50% retrace next.
There is absolutely nothing bearish about the Dow vs gold or silver currently. It looks poised to head significantly higher vs both very soon. It should hit the 38% retrace vs gold one would think, even if this was just a bear rally since 2011.
It will be bullish for gold if Dow:Gold fails to reach that 38% retracement level as I think it will.
Wow, look at EXK. Getting slapped back down like a you know what.
That’s just to keep the Endeavour Silver team peppy and focused 😮
I call GDXJ purdy and she slaps me in the face. Typical. 😉
And GDXJ bounces back!! She loves me, she loves me not…
hahaha! She sure is fickle, eh?
I call today a win, as it backtested the breakout of the downtrend since February, and the bulls won today’s tug-o-war in spite of the small decline.
Good point. Backtest and rebound is bullish. I’m interested to see if tomorrow shows more strength.
RIYADH, Saudi Arabia (AP) — Britain’s prime minister pitched the benefits of the London Stock Exchange during a visit to Saudi Arabia on Wednesday as the kingdom weighs which international market to list shares of oil giant Aramco in what many expect will be the largest public offering in history.
Theresa May made her pitch in the capital, Riyadh, during the second and final day of her visit. Saudi Arabia plans to list less than 5 percent of the world’s largest oil-producing company on the Saudi exchange and another international exchange, possibly by next year.
Epstein morning TA:
https://youtu.be/FG9LFQiGUuE?t=32
Greg Hunter today:
good one , I highlighted this earlier today………Even Paul did not know what the Fed was capable of ….
Hope some other chime in on this article………gathering food for thought..going forward.
Dent was saying dow 30k.
Bet it gets there before Sinclairs gold 50k.
Even armstrong is saying 43,000………
better jump on board……….lol
Bix Weir today:
65% of Future Jobs Don’t Even Exist. It pays to be adaptable and perhaps reinvent yourself every so often. As long as individuals are eager and willing to learn, most of them should be okay.
http://techseen.com/2017/04/05/jobs-technology-prasar-sharma
Great point Steele.
It will come down to learning the skillsets that are in demand, and if that shifts to technology, then play where the action is….
20 years ago there weren’t pimple-faced millennials working at Facebook, Twitter, Linked in, Google, Snapchat, Uber, Tesla, etc….
“The Times They are a Changin’…..”
I am still making buggy whips…………they should come back in fashion , when the robots get out of hand………
That’s good news, as I’m developing robots that crack buggy whips, but didn’t know where to source the whips from. I may make you an offer to merge the companies, so your shares should see a spike.
Maybe you could thrive in an Amish community. That reminded me of this interesting bit of tax history from Martin Armstrong. I was not aware that the Amish are exempt from U.S. Social Security Taxes. This was a fascinating read.
good one on the Amish………
I remember reading that many years ago………
Nobody can raise a barn like the Amish…..
Kingpin – Barn Raising Scene
great cabinet makers……
I lived in the Cleveland Ohio area several decades back and there were many Amish and Mennonite groups there. Hardest workers I’ve seen.
They don’t vaccinate their kids either and their kids are the healthiest kids you ever saw, and autism is unknown. They can eat peanuts too!
Jerry, don’t give Spanky a buggy whip, he might just think he’s in charge. LOL!
ha,ha…….great one……. love it….. 🙂
We could bring back Heavy Hitter and give him the buggy whip….. Your thoughts?
Maybe crazy Mark or JTL?
Personally, I vote for Frank from Moscow…… The BOOT.
FFM hacked the BOOT/claw
It must have been a very Out Of The Box hack by The Claw……. to get to FFM….The Long.
HH hard heel boots ….FFM says hello
The claw was busy with the Dow, ….Lackey said short today….lol
The next few days could be decisive as the metals test overhead resistance.
http://etfdailynews.com/2017/04/05/gold-and-silver-are-both-nearing-a-bullish-technical-breakout
Some of the silver miner weekly charts say it all. AG’s weekly full stochastics are bound to hit oversold from these levels. It would take an absolute miracle for them to turn upward from here after trending sideways so close to oversold territory.
Looking at PMs and mining stock charts just say a coming downward motion. And looking at global industrial commodity charts all say a coming upward motion. It’s a weird quandry, but that’s what it looks like to me…
The oligarchs are about to hurl profusely, as the Middle East is entering a new “real peace agreement “. Which could make gold drop for a lil bit, and make commodities go up.
AI is everywhere and now on the nightly business reports you can get management fees for your portfolio by financial firms that only use robo advisors. I have worked hooking up industrial machinery off and on since 1978 and if anyone thinks that Artificial Intelligence can’t replace all jobs you’d better be retired because then it doesn’t matter. Even lawyers firms use software managed be secretaries, law school is only for the select few. IBM is training Watson to replace Doctors for diagnostic jobs as a computer can now scan 200 cases at once. The machines must be taxed so the wealth can be distributed, until the machines realize that humans are a liability and then we are dust. DT
DT – This one’s for you….. Good movie about the blending of man & machine….
ELYSIUM – Official Trailer
Transhumanism
From Wikipedia, the free encyclopedia
This article is about the futurist ideology and movement. For the critique of humanism and related term, see posthumanism.
“Transhumanism (abbreviated as H+ or h+) is an international and intellectual movement that aims to transform the human condition by developing and making widely available sophisticated technologies to greatly enhance human intellectual, physical, and psychological capacities. Transhumanist thinkers study the potential benefits and dangers of emerging technologies that could overcome fundamental human limitations, as well as the ethics of using such technologies. The most common transhumanist thesis is that human beings may eventually be able to transform themselves into different beings with abilities so greatly expanded from the natural condition as to merit the label of posthuman beings”
This was another interesting film of downloading a man’s consciousness into an AI program and how it became and extension of the mind, but then something much larger & innovative, but to some degree, more dangerous to humanity.
__________________________________________________________________
Transcendence Official Trailer
EX MACHINA Official Trailer
Ideas on how to get ahead of the AI/robot wave?
Two thoughts:
1) those with capital can own their share of the robots, so surf that wave. But those without capital?
2) Own productive land. I’m working on getting a piece of land that will be self-sufficient in water, power generation, and food in a pinch (but that won’t be necessary, b/c there’s plenty of local food prodxn).
Questions:
1) What current professions/services will be resistant to impact from accelerated automation?
2) What fields will be opened up by accelerated automation?
Pardon the gloominess, but I put high odds on a 90% global genocide by the oligarchs, so maybe these questions are moot.
Make that ‘fair odds’….
Technology jobs will grow (think robot repair, programming, and manufacture of said devices).
Elevator operator jobs will remain in decline.
BTW – I’m with you on getting productive land, getting off the power grid, and being self-sustaining.
I’d recommend many of the ideas around Permaculture.
Permaculture
From Wikipedia, the free encyclopedia
That’s the plan–a forest farm.
I was posting it more for the classes you can take regarding Permaculture design, maximizing efficiencies (like heating, cooling, water control, drainage, etc..) with different building strategies, and plants or crops, etc…
Much of Permaculture gets a little Hippy Dippy, but the principles of better home building, better land management, and synergistic systems are valuable.
This is a better example:
https://deepgreenpermaculture.com/permaculture/permaculture-design-principles/
“The Permaculture Design Principles are a set of universal design principles that can be applied to any location, climate and culture, and they allow us to design the most efficient and sustainable human habitation and and food production systems.
Permaculture is a design system that encompasses a wide variety of disciplines, such as ecology, landscape design, environmental science and energy conservation, and the Permaculture design principles are drawn from these various disciplines.
Each individual design principle itself embodies a complete conceptual framework based on sound scientific principles. When we bring all these separate principles together, we can create a design system that both looks at whole systems, the parts that these systems consist of, and how those parts interact with each other to create a complex, dynamic, living system.
Each design principle serves as a tool that allows us to integrate all the separate parts of a design, referred to as elements, into a functional, synergistic, whole system, where the elements harmoniously interact and work together in the most efficient way possible.”
Sounds almost intimidating when they put it like that, but I suppose that is the idea. I’m no farmer, and It’ll be a hobby, at least to start, so bit by bit–grok the land; plan the layout and start planting the things that take years to mature–coconuts, coffee, cashews, avocadoes, citrus, etc.; soil improvement; water management; waste disposal/processing; power system; use of on-site building materials; etc.
The idea is zero downstream pollution, organic, and sure, in ‘harmony with nature’. We’ll see how that notion stands up in the face of ravenous leaf-cutter ants, monkeys, parrots and peccaries.
I suppose it sounds kind of ‘survivalist’, especially given my gloomy prediction above. But that’s not really my motive, beyond accessing clean, high-quality food. It’s just something that’s captured my imagination for over twenty years, and I’m not getting any younger. It just happens that it makes good sense in the current world situation. If nothing else, it should keep me from spending all my spare moments staring at stockcharts 🙂
I dont see “robot” jobs increasing, I see them,programming,repairing and manufacturing themselves.
Actually, I doubt there is anything a human can do a robot couldnt do better.
Lets hope they treat us better than we treat ourselves, course, they might learn the same way our kids do, by example.
We may be creating our new caretakers….. I wonder what they’ll think of us flesh-bags.
Some MGTOWers want “Love ‘Bots” and artificial wombs. I have a hard time imagining them doing that better, lol.
“Elevator operator jobs will remain in decline.” Not in DC.
🙂
Moot or not, though, this is my philosophy:
+1
Perfect! I needed that today GH.
The Fed is doing an absolutely masterful job. U.S. stocks at all time highs, commodities at 40 year lows, bonds and gold trending gently sideways. Bernanke and Yellen are true American heroes, and we should erect statues similar to the Lincoln Memorial in their honor.
spanky – are you investing in pot stocks again 😉
the true American heroes part made me chuckle…..
….unless you meant heroes at adding zeroes…..
true American zeroes may be more appropriate.
Go figure, the Fed officially talks about shrinking the balance sheet today and bonds rally. OK.
Ex and GH, check this out a San Francisco start up puts everything you need for a two acre farm in a shipping container.
http://www.smithsonianmag.com/innovation/san-francisco-startup-puts-everything-you-need-two-acre-farm-shipping-container-180961567/
There ya go…. A Farm in a box. Probably available on Amazon for Drone delivery…
A Farm-in-a-Box — that is hilarious.
Here’s a variation on the theme — use the box as a farm.
Nice.
Steve Bannon……..kicked off NSC……another shake up in the Trump cabinet…zerohedge