“The president single-handedly wiped out Americans’ retirement savings overnight and subjected businesses to intense whiplash with his increasingly erratic and chaotic policies that continue to drive consumer and business uncertainty.”
“The president single-handedly wiped out Americans’ retirement savings overnight and subjected businesses to intense whiplash with his increasingly erratic and chaotic policies that continue to drive consumer and business uncertainty.”
Even if Trump removes every tariff a recession is almost certainly coming. Short to longer term planning, hiring, building, etc will certainly slow down and that kind of things is widespread. People lose jobs, people don’t get hired, people choose not to start a business or invest money in the USA, etc.
The MAGA Nazis are fully embracing AI, and full automation is on its way. All the tech exists right now to fully automate every fast food outlet in America. The could have the supplies stored in robotic warehouses, robotically loaded into self-driving trucks, unloaded into the restaurants robotically, prepared robotically, and delivered to the customer, who ordered it on an app or kiosk. All without a single human touching it anywhere along the way.
Corporations will become wildly profitable with greatly reduced cost of labor and related labor issues (HR, benefits, discrimination, etc), but the additional result will be the loss of millions of entry level and unskilled jobs. These are the jobs where young people learn how to exist in the workplace, where households can have a second income, where people can become managers and make decent livings, etc. And that is only one industry. Every single industry will be impacted by automation and AI, with an enormous net loss of jobs, leading to a permanent unemployment rate in the double digits, possibly as high as 30-40%, or even higher. The impact on the government and our economy of the loss of income tax revenue from those lost jobs is a whole other conversation altogether.
What will happen to all those unemployed people? There seems to be only two solutions: Universal Basic Income, or reducing the population by the permanent unemployment rate. It’s pretty predictable which solution each party would choose, and also pretty predictable how they would choose to accomplish their solution.
UBI is never going to come to the united states. Whats reasonably to going to happen is an uprising and the brutal suppression of it by the police state a la Tianenmen square style or even worse. US have done this against people of color multiple times in its history. This time others will join as well.
This time may be different because the police may have a lot greater reason to join the people than they did in the past. The police’s retirements were also wiped out, and the police’s family members are a lot more likely to have been affected by those tariffs. I think it’s too pessimistic to say what you’re saying, because the number of people affected now is significantly greater.
An uprising seems likely, and an attempt at brutal suppression also seems likely, but the United States regime has also made enemies of almost every other country on the planet, and the groundswell of people is very large. The number of people in the protests today was massive:
https://www.reddit.com/r/50501/
If you see the sheer numbers, it’s enough to give hope.
🙏
Not to forget the ability to let middle management go when there are no workers to be managed as well as the people for low level optimization and planning.
This is a major thing and the reactions are unfortunately downvotes.
China is likely to get AI before the US does. Innovation here is slowing down.