The Risk of AI Isn’t Skynet
The risk that AI transitions from Servant to Master is dramatically appealing–Skynet!–but the real risks are in the mundane realms of the socio-economic order….
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The Inevitable Drift Down from “Can’t Lose” Owning Stocks to “Can’t Win”
Only those who experienced the heady euphoria of the late 1990s dot-com bubble in tech stocks know what the shift from “can’t lose” confidence…
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The Last Generation
A recent “50 years ago today“ column in the town newspaper reported that the town’s last blacksmith was retiring, and he couldn’t find anyone…
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Yes, Everything Crashed–Just Not For You
A dedicated cadre of readers is devoted to reminding me that I’ve been wrong since 2009, as stocks, housing and GDP have all soared….
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Anatomy of AI Cold Turkey
No, this title is not AI slop: AI cold turkey means there’s no AI monkey on your back: you don’t snort it, mainline it,…
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The Revolution Trilogy
The research I’ve done over the past three years has changed my mind about the potential for a social revolution in the United States….
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ZIRP or ZAP? Will the Fed’s ‘Zero-Interest Rate Policy’ Return, and Will It Work?
Correspondent Scott suggested I consider the possibility that the powers that be will respond to a weakening of the economy by pushing interest rates…
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Could a Rip-Your-Face-Off Rally in the Dollar Trigger a Global Financial Crisis?
We all know the end-game when currencies are inflated as an expedient measure to stave off insolvency: devaluation eventually has consequences as the debauched…
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Anti-Progress, reverse leverage and the hot-potato economy.
Anti-Progress: what’s presented as “progress’ is actually the opposite of real progress. Reverse leverage: costs are cut to save $1 but due to the…
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The Crisis and Revolution Hidden in Plain Sight
According to both the mainstream media and social media, the forces that will shape the future are 1) AI (i.e. technology’s impact on jobs…