More AI talk. And what kind of world its creating.

 

I was listening to the Acid Capitalist (Hugh Henry) 

Anyhow I probably spelled his name wrong, and even where he lives. (St. Barts) 

Anyhow hes pretty good at Macro Economics. 

Lately hes been talking alot about AI and how it will affect jobs going forward and the Wests Governments going forward. 

He seems to believe its possible AI will destroy a lot of white colar jobs and low income jobs.

I think hes right.

In the Philippines its already impacted the phone answering services many companies have their, with AI answering your questions, which I have already experienced. 

I could barely tell I was talking to a phone. 

He seems to think Governments will pay people for long periods of time without doing anything productive,  like they are already doing in the UK.

This is all inflationary. 

He points out the deflation that may come and the resulting inflation from all the money printing that will come to keep people from revolting in there old age 

It has caused him to think it maybe profitable to hold TLT, long duration US Treasury Bonds and Bitcoin. 

All this is interesting to think about and how men and women will react to all these changes.

I believe hes right, real estate in low tax jurisdictions in places like Switzerland,  St. Barts will become valuable.

He also points it will easier than ever tl live in political jurisdictions that will be affordable, safe and low tax, and easy to start small businesses and comply with all the worlds taxes.

This will cause high tax/regulatory States to either compete with lower tax/regulations or die a slow painful death. So far the UK is choosing death, but the recent election may have changed that.

This is why you see so many Brits making videos on there new lifein Asia, North America, and Eastern Europe, Middle East countries. 

For the most part these folks are surviving and prospering.

As the Chinese say, may you live in interesting times.

Im probably more optimistic for the future,  there is more wealth being created and more financial instruments to trade and invest in, and markets moving faster than Government policies.

So im not as bearish as others even though earning income from entry level jobs with or without college is getting more difficult to do.

I see more cottage industry businesses being created in North America, including Mexico, where people are surviving and prospering despite government policy. 

Time will tell in how things will unfold.

Good luch. Happy Hunting.