Today is the big day. Is it 50 basis points or 25 basis points it matters not. The markets are frothy to say the least and as much as they are devoid from reality, they still try to 'price in the future'. Honestly I don't know who reads this blog or who even cares. I appreciate anyone who takes the time to read but in the end we are participating in a system where everything is turning into chump change.
Does the future price in AI destroying so many of the redundant tech jobs? It's unbelievable how many AI systems are now flooding my feed's on all of the 'twitter verses' and the like. Is this why something like google stock will go up when announcing they are firing a quarter of their work force? Does this really price in the future where we have stagflation? Prices for goods and services will go down temporarily but in the end we know they will continue higher. Yes we are going to become serfs, yes North America will mimic South America and many other poor countries.
How will places like India fair? They have 1 Billion people but how many are in tech jobs themselves? It seems baked in the cake. If you aren't a millionaire now, it's going to be next to impossible to start dreaming of new 'tech' offerings aside from helping customers use AI to the best of their ability. But what is AI? If it is self learning it will continuously expand upon itself making software engineers perhaps irrelevant.
Ok enough about AI. It's been discussed way too much. People will still need 'stuff', albeit eventually machines will take over jobs as well. So where does that leave the human race? Exponential population growth isn't necessarily predicated on job availability. I saw the saddest reddit of some French women feeding Vietnamese children coins and grain as if human beings were farm animals. Yes there will be a brave new world and you better hope you have the genetics to back up your worth.
The truth is that the earth has enough bounty, but human beings cannot remove greed and the need for power. When we see images like the above we realize that being born with a silver spoon is no longer about 'health' but privilege. Exponential growth will be followed by decline. Those in the know are awaiting this new reality.
I am reminded of science fiction often starting in the pages of a comic book. Recently the 'mutants' in the far future are almost extinct leaving them in a 'zoo'. Perhaps the cyborgs of the future will have 'original' humans being fed and watched. If there were any time to believe in a higher power, now would be the time to believe. A world with genetic superiority, technological implants may very well be what the old humans used to compete against each other with.
I would recommend the movie Gattaca which was made in 1997. To not spoil the movie itself, we will indeed live in a world where identity isn't specific to outside looks. Indeed the genetic makeup and how much money went into creating the perfect DNA inside of a human being will very well be the competition for the elite. Animals like us will just be made redundant.
So enjoy today's rate hike. We are still living in a world that thinks it can price in the future. We just do not realize that the true future has been priced in, and speculation will no longer be on how much human beings can consume.
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I had read that they are thinking we are going to end up having a "soft landing". I don't necessarily agree with that though. I'd like to think that if AI is taking care of the mundane stuff we can focus more on the creative and exploration stuff. Maybe we see some more advances in nuclear fusion or faster than light travel. That's what happened in Star Trek, but it took WWIII before that happened. :P
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I don't think it's so far off from the future. Star Trek knows something.