This "recession" has been in process. If it's finally peaking, it's little surprise to many. I read an article this morning that analyzed that we're really in stagflation. Someone in the business I spoke with last week said he thinks we're about a year or so from the lowest part of the downside that he's been telling me for over 2 years was coming.
Is your point that all of this is AI related, or some of it, or???
I don't believe anyone analyzing this economy. The reason for that is because I think we are in a situation completely unlike previous revolutions. So they compare this to the tech revolution, or the computer revolution, or what happened with the internet. I believe they are clueless. Yes there are similarities, but what they are missing is the speed with which the revolution will take place, it will be ten times faster than the move to the internet. If it took us 20 years to make the transition to the internet it will take 2 years to make this transition. Also they are thinking that like other revolutions some jobs will disappear and others will appear. Again, that is true, but this time I think the ratio will be 10:1 and ultimately 100:1. For every 100 hours of labor that AI or robots will do replacing humans they'll need to add 1 hour of human labor. Third, in the industrial revolution and in the tech revolution we got machines to do much of the labor, but in doing that they also increased GDP. As a result we had better paying jobs and an increase in standard of living. In this revolution I don't see any increase in GDP because as people become unemployed the markets will shrink. Finally, the jobs that will be left will be minimum wage jobs because the AI or robots will only need someone with limited skills to help them. In the end the only way to get a job will be if you get the neuralink brain chip.
This is based on what leaders in the industry have said, and what governments around the world have done to prepare. But it is also based on prophecy and what the Bible says.
