Economy: Bank of England Chief Economist says to accept that we are all poorer now
The Bank of England Chief Economist says to accept that we are all poorer now due to inflation.
Crime, Security: Property Crime seems to run rampant in major U.S. cities
Portland, Oregon San Francisco Elsewhere An increase in shoplifting crime is blamed on An increase in shoplifting and property vandalism are reportedly spreading to other countries. Recent crime data itself…
Energy: “California utility companies propose charging customers based on how much money they make”
Three major utility companies in California are looking to restructure customer billing, and part of that means customers could be charged based on how much money they make. Source: California…
Automation, Demographics: Generative AI Could Raise Global GDP by 7%, productivity by 15%, and affect 2 in 3 jobs
Goldman-Sachs predicts significant economic and job impacts from generative AI technology over next ten years: Generative AI Could Raise Global GDP by 7% Over the next ten years, 2 in…
Climate oops: Canadian government study
Let’s pause there for a moment: 6.6 per cent after 80 years is a very small number. Canada has set out ambitious economic growth plans based on high levels of…
Follow up: ChatGPT will not transform economy
A prediction, too early to follow up but given his track record, we can assume this forecast will not be true. ChatGPT Won’t Transform the Economy in the Next Decade:…
Automation: “ChatGPT Will Impact Educated, White-Collar Workers”
For the past 40 years, economists, who frequently have tenured, guaranteed for life jobs, advocated for outsourcing/offshoring work and bringing in more immigrants to replace, what were mostly blue-collar workers.…
Yes: “Is there a drop in software engineer job openings, globally?”
Peak hiring was back in 2021 and early 2022, but since then there has been a steady and fairly shop reduction in software engineer/software developer job openings
Economy: Federal Reserve interest rates over time
This chart illustrates how the Fed got way behind on interest rates, will a crushing rapid rate hike sequence. The chart also shows how much worse things were when peak…
Follow up: NY Times-“The evidence that high inflation is coming is weak”.
It takes a special kind of expert to be wrong more often than a coin flip. Here, the NY Times tells us in Feb 2021 that inflation will remain low…