A form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.
The big key to this equation that we all need to wrap our heads around is ‘later investors’
Most people are generally aware of the above headlines coming out constantly now. Others are aware when senior staff leave their place of employment and no one replaces them. Still more in areas such as banking and finance are well aware of the acceleration of technology making them obsolete. If they are not aware, they will be, when it is that they are obsolete.
The primary assumption for those that are facing this reality is ‘they can’t replace me’ and perhaps that is the case, for now.
Do you make less than $20/hour? Do you know that the projection by government and industry who have a good pulse on this (because they have to) is that 83% of these jobs will be replaced by AI.
$20-$40/hour? 31% chance. The sad reality? This came out in February 2016, a lot has changed since then in this rapid evolution.
When John Chambers tells us 40% of ALL businesses will disappear that is, as they say, kind of a big deal.
If you are paying attention to this trend, banks, tech and all other companies do their best to ensure we are blind to this reality as long as possible. Here are some of the phrases they use which means ‘we are cutting staff because tech, software, robots, AI has made them obsolete’ That way, when you see this moving forward you know why you, someone you know or your colleagues somewhere else have lost their jobs.
The massive acceleration will occur when paper money is banned and thus all those in any cash handling situations are toast. This is part of why banks are pushing this and of course Government owned pension funds being the primary holder of banks wants to ensure that less wages gets them a better ROI.
At this point I think it is clear the direction of tech, finance etc. However transportation and construction are moving quickly in this direction.
“We’re moving into the era of robots” said the chairman of Land Securities, the £8.2 billion FTSE 100 construction company.
“Businesses are focusing on [productivity], they want to reengineer how their people can work, they recognize that technology is upon us and is going to destroy thousands of jobs,” said Ms Carnwath, who has been on Land Securities’ board since 2004 and has been chairman since 2008.
At least she doesn’t beat around the bush on the destroying of jobs.
Those that follow this blog know that it has been discussed that fast food workers because of ill conceived ‘fight for $15’ movements (that the fast food industry absolutely adores) are going to get the same treatment.
Of course, they are most likely just waking up to this possibility. Like many though, most still believe they are ‘safe’ from getting the axe from the very government that could care less about them and tech who will profit most from replacing them. Tech of course is a primary holding of Government Pension Funds. Yes, that very government who closes schools and weakens unions for this exact purpose.
We can see this accelerating now that the minister of education wants to ‘hear from you how you want your kids education’ in an effort to ‘provide a deeper understanding of their child’s progress at school.’
Report cards are a primary workload for teachers, when that is eliminated (and it will be) and when teachers become ‘guides’ instead of teachers, they will lose more bargaining power. Article have shown teachers somehow being worried this will ‘increase their workload’ which prompts me to wonder who is running their union? Why do none of them see this freight train running right through their smart boards, iPads, routers, data collectors (and classroom)?
It is really as simple as all testing done on the computers and email sent to parents in real time. No more need for report cards except on behaviour, which of course can be monitored by tech.
If you are a teacher just watch the trend unfold just as you have watched it unfold in the labour discord side and the tech side. It cannot be anymore obvious by now.
The government knows that both the tech and the will of parents to drown their kids in radiation in exchange for ‘preparing them to succeed in our changing world’ are now there.
‘The robots are a project of Google, which has been working in secret but in plain view on robot engineers that can program themselves, using artificial-intelligence software that can reason about programming and mimic the decisions made by a human engineer.
With a technician nearby with root access to monitor the robot talk, seven test engineers have given over 1,000 tech talks without human intervention and written more than 140,000 lines of code with only occasional human debugging. One even programmed itself to learn product management, a task that requires creative and analytical thinking.’
They are preparing kids for jobs that are already not even there! Brilliant. They know this, but have to sell tech as the ‘future’ because no one can learn anything without complete dependance on tech and government.
The ponzi scheme was mentioned. Ponzi’s simply rely on later investors to pay out to early investors. That is in general what a pension is.
Has anyone… even once… thought to ask: What happens when all those jobs are gone, baby boomers are taking out instead of putting in and pension funds cannot get their yields in line to stay solvent?
Here is the answer on how it will work: It won’t.
It is 100% mathematically impossible, and they know it.
What happens when businesses (like the 40% John Chambers told us about) go under?
Simple, bankers take your pension and you get nothing.
It is also important to realize what is coming in the government bond market. Government bonds will start to collapse when people realize they are insolvent also.
While no one believes it can happen and will look for any downtick in the stock market as the sign of the ‘next stock market crash’ they will be blindsided over the medium and long term support the market will get when people rush out of bonds and into stocks when they smell the rat.
It will start with emerging markets who borrowed in USD under a low rate environment. The USA WILL RAISE RATES and this will force the dollar higher as the entire insolvent EU collapses under the gross financial incompetence of all those leaders who now tell us we need to pay carbon taxes to try and fix their idiocy.
Before this, emerging market bonds will get hammered into the ground and this will be the tell of the markets that all hell is going to break loose on the bond side in Western Governments.
Guess what will happen? Governments will simply force the pension funds to buy the bonds to put a floor on them. Or they will convert a 10 year note into 30, maybe 50 year notes or 100 year notes.
So we ALL get to take the bath when the debt goes sour.
Next time when you go to work, talk about this with your fellow employees, see the blank stare you will get as they likely will say ‘I can’t do or hear anything over 140 characters’ or “I don’t have time” and go back to scrolling their phone 5-10 hours a day.
This is what we get when we wish and hope and put our money behind this world and those that run it. When the people’s hero’s are whoever has the most tweets and selfies. We in reality, don’t want to see what is coming, we will look for anything but and thus we have: