Economic Downturn Oncoming?
I've been dealing with my own analysis of economic foresight and have come to the conclusion that we are likely to experience a new kind of economic downturn in the foreseeable future.
The rationale hinges on two things happening in tandem;
1. The advent of Generalized Artificial Intelligence.
2. And, perhaps more importantly, than the slower onset of problems (that really can't be mitigated!) of number one, being, massive deflationary tendencies, of the culmination of technology being GAI.
I'll let you play with those two premises, and let me know what you think?
The rationale hinges on two things happening in tandem;
1. The advent of Generalized Artificial Intelligence.
2. And, perhaps more importantly, than the slower onset of problems (that really can't be mitigated!) of number one, being, massive deflationary tendencies, of the culmination of technology being GAI.
I'll let you play with those two premises, and let me know what you think?
Comments (4)
The problem with #1, is exacerbated by appealing, to perhaps, the most important facet of GAI, that we could possibly instill, being empathy. National boundaries cannot be imposed on an entity that treats all human beings as equal.
The paradoxical economic foresight from this is that the poor, not the rich stand to benefit the most from such a GAI, which I think is Pareto optimal.
Look at what happened to Japan...
Yes, well, this has been predicted for quite some time. The question is when the Fed is going to stop printing, or when the markets will simply stop responding to the Fed printing. And nobody knows the answers to those questions. John Maynard Keynes said: Markets can stay irrational longer than you can stay solvent.