All well and good if you are employed, well off and rich. But if AI starts eliminating jobs, even being rich may not help you in the coming crash. Why a crash ? Most people will not be able to buy anything other than a bit of food and pay their rent, if they are lucky.
I doubt we will see most of these impacts for 10 to 20 years. I wonder if this is a reason Trump wants low interest rates ? With low rates the rich can borrow at a low fixed rate and purchase items like Gold and Land. Then when rates have to raise, more $ for them.
What article is not mentioning is this, for the US:
Private sector: + 687,000
Government sector: – 319,000
Total: + 181,000
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The government sector doesn't produce virtually anything that counts toward GDP, so GDP growth relates not to 181k of total employment growth but to 687k of private-sector growth.
So, no, this is not about eliminating jobs and a few people getting rich.
It is about statistcs, and lying to force the agenda.
Job sector growth (after revisions down) has been almost entirely within the healthcare industry which is quite unsustainable. We can't all get rich being a middle man between the doctor and our neighbors. Outside of that sector we're seeing economy-wide shrinkage and stagnant wage growth with a decrease in real wages relative to inflation.
This is a recession - it will be a full-on depression if we get a doveish Fed chair... it might be one anyways, we'll need extremely adroit action to recover into a healthy economic state.
But hey, DOW go up and that's all we care about, right?
The economic condition strains even the jargon of economists. Is the economy booming if unemployment is booming? What does it even mean? Is the economy really booming or is it really just inflation? I feel like they need to be more specific as to what they mean. Or as was said elsewhere here "But hey, DOW go up."
>Forecasters expect Friday’s report on gross domestic product to show the economy expanded 2.7% in 2025, a solid pace by any standard for a developed country.
I would be very curious to see if any circular deals aka funny money have been factored in there.
Also, despite literal hundreds of billions presumably invested in data centers where's all the construction, energy, communication, and other infrastructure build activity?
> The latest monthly jobs report published on Feb. 11 by the Bureau of Labor Statistics showed job growth was weaker in 2025 than initially reported, but it also showed hiring picked up in January.
The 2025 numbers were revised down (by the largest number in history - again), and no changes have been made to the methodology/models, which means that January data will be revised, too, so nothing shows that "hiring picked up"
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[ 2.4 ms ] story [ 30.6 ms ] threadI doubt we will see most of these impacts for 10 to 20 years. I wonder if this is a reason Trump wants low interest rates ? With low rates the rich can borrow at a low fixed rate and purchase items like Gold and Land. Then when rates have to raise, more $ for them.
Private sector: + 687,000
Government sector: – 319,000
Total: + 181,000
---
The government sector doesn't produce virtually anything that counts toward GDP, so GDP growth relates not to 181k of total employment growth but to 687k of private-sector growth. So, no, this is not about eliminating jobs and a few people getting rich. It is about statistcs, and lying to force the agenda.
a) the AI narrative is annoying if not intellectually dishonest as so much money is invested in it
b) this requires a trigger warning
But if we are counting no. of payrolls: might this statistic hide the effect which mass scale deportations had?
Note: not an US citizen
We'll gain so much efficiency that the economy will evaporate.
The markets can't survive on capital alone.
LOL. Like a diet focusing on a single macro. When all that is left is capital, then that is an unhealthy diet.
This is a recession - it will be a full-on depression if we get a doveish Fed chair... it might be one anyways, we'll need extremely adroit action to recover into a healthy economic state.
But hey, DOW go up and that's all we care about, right?
I would be very curious to see if any circular deals aka funny money have been factored in there.
Also, despite literal hundreds of billions presumably invested in data centers where's all the construction, energy, communication, and other infrastructure build activity?
> The latest monthly jobs report published on Feb. 11 by the Bureau of Labor Statistics showed job growth was weaker in 2025 than initially reported, but it also showed hiring picked up in January.
The 2025 numbers were revised down (by the largest number in history - again), and no changes have been made to the methodology/models, which means that January data will be revised, too, so nothing shows that "hiring picked up"