Wary of robots taking jobs, Hawaii toys with guaranteed pay

Here what your very near future looks like. It’s actually already here in a sense with 3D printing, autonomous vehicles on the road, etc… The only thing keeping it from being on a full scale is a catalyst. Robotics and virtual reality are the fourth industrial revolution. Inventions such as HyperLoop will destroy businesses from airlines and taxi services (even Uber) to the postal service and automobile manufacturers.

Logistics will be changed forever — and that’s just one sector. Whatever is redundant will be taken over. This includes not only blue collar jobs such as restaurant services, but white collar jobs such as accounting and financial analysis. A good example would also be in the banking industry where tellers are already replaced with ATMs, and likely soon to be completely replaced and out of work.

A modern day feudal system will be built in response, where the politicians lord over the formerly employed, peasants of today’s times.

 

HONOLULU — Driverless trucks. Factory robots. Delivery drones. Virtual personal assistants.

As technological innovations increasingly edge into the workplace, many people fear that robots and machines are destined to take jobs that human beings have held for decades–a trend that is already happening in stores and factories around the country. For many affected workers, retraining might be out of reach —unavailable, unaffordable or inadequate.

What then?

Enter the idea of a universal basic income, the notion that everyone should be able to receive a stream of income to live on, regardless of their employment or economic status.

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Deutsche: The Fed Has Created “Universal Basic Income For The Rich” And Now It Can’t Get Out

 

Two weeks after Aleksandar Kocic highlighted the moment in 2012 when the market stopped caring about newsflow and reality, and, in a word “broke” with pervasive complacency setting in regardless of macro uncertainty…

… Deutsche Bank’s post modernist master of stream-of-consciousness narrative is back with a new essay dissecting his favorite topic, the interplay between the Fed and markets, the so-called “umbilical limbo” that connects the two in the form of ultraeasy monetary policy and QE in general, and more importantly, the narrative that the Fed has spun over the past ten years, which while supportive of risk assets, has concurrently resulted in what Kocic calls a “permanent state of exception” from normalcy as a result of the Fed decision to defer the financial crisis indefinitely. Continue reading