Economics Thread

chop2chip said:
I’m actually curious. There’s no gotcha in my question.

What does Bannon think of the whole robots thing? It seems all the eggs are in the AI / robotics spurs 5% annual GDP growth. It would seem this runs contrary to his blue dog schtick
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Bannon does not prescribe to the idea of work eliminating but he also isn't a luddite and understands whats coming.

The transition to robot work will be the hardest thing this country has ever done. Tens of millions of people will be temporarily displaced of labor.

I have no clue what the answer is but its essential that we are the biggest beneficiaries of this advance.
 
thethe said:
Bannon does not prescribe to the idea of work eliminating but he also isn't a luddite and understands whats coming.

The transition to robot work will be the hardest thing this country has ever done. Tens of millions of people will be temporarily displaced of labor.

I have no clue what the answer is but it’s essential that we are the biggest beneficiaries of this advance.
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You and I are in agreement.
It will be interesting to check the pulse on populists as millions are displaced and the asset holders in this country become ultra wealthy. Gonna be a lot of resentment towards those robots
 
chop2chip said:
You and I are in agreement.
It will be interesting to check the pulse on populists as millions are displaced and the asset holders in this country become ultra wealthy. Gonna be a lot of resentment towards those robots
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There will be some form of robot tax that funds a temporary social welfare system that hsa conditions (actively looking for work/skill enhancement/ etc....)

Costs will plummet for everyday goods.

It will truly be a whole new world and what comes of it is completely unpredictable.
 
nsacpi said:
I agree our political system gives us an advantage. But we shouldn't underestimate the competition we are in. This is a pretty good op-ed piece outlining some of the challenges. I don't agree with all its conclusions and recommendations but these guys have spent a lot of time analyzing these issues.

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I would argue that our political system puts us at a massive disadvantage in this fight. China’s government has the power to enact policy and force businesses and citizens to go along with it. Their citizens can’t push them off course and companies can be exploited to make policies that are beneficial to the US more painful. We have the opposite, with fickle voters and corporations that are slow playing the re-shoring of industry in the hopes that those fickle voters will save them the trouble.
 
Jaw said:
I would argue that our political system puts us at a massive disadvantage in this fight. China’s government has the power to enact policy and force businesses and citizens to go along with it. Their citizens can’t push them off course and companies can be exploited to make policies that are beneficial to the US more painful. We have the opposite, with fickle voters and corporations that are slow playing the re-shoring of industry in the hopes that those fickle voters will save them the trouble.
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These fickle voters are listening to econmists that are in the pocket of the globalists as well.

Just like so many people listened to 'public health experts' during COVID.
 
Jaw said:
I would argue that our political system puts us at a massive disadvantage in this fight. China’s government has the power to enact policy and force businesses and citizens to go along with it. Their citizens can’t push them off course and companies can be exploited to make policies that are beneficial to the US more painful. We have the opposite, with fickle voters and corporations that are slow playing the re-shoring of industry in the hopes that those fickle voters will save them the trouble.
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Similar argument was made during the Cold War and it turns out “fickle voters” were better at running businesses than politicians. Xi Jing Ping is smart and capable, but I’ll take our chances.
 
thethe said:
There will be some form of robot tax that funds a temporary social welfare system that hsa conditions (actively looking for work/skill enhancement/ etc....)

Costs will plummet for everyday goods.

It will truly be a whole new world and what comes of it is completely unpredictable.
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I’m less optimistic about the robot effect. Like car manufacturers with self driving technology, or really any other modern software, they aren’t going to want to sell it once. I expect subscriptions that are cheaper than an employee but still significant enough that the savings get lost in the margins before the consumers see them.
 
chop2chip said:
Similar argument was made during the Cold War and it turns out “fickle voters” were better at running businesses than politicians. Xi Jing Ping is smart and capable, but I’ll take our chances.
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It was, but the CCP has been smart enough to use weaponized capitalism with a communist political structure instead of handicapping themselves with socialism.
 
Jaw said:
I’m less optimistic about the robot effect. Like car manufacturers with self driving technology, or really any other modern software, they aren’t going to want to sell it once. I expect subscriptions that are cheaper than an employee but still significant enough that the savings get lost in the margins before the consumers see them.
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But it wouldn't be the car manufacturer that is taxed for the driverless tech. Its the companies using that software that would be taxed which is also the displaced employee.

On the car manufacturer side I could see an additional tax on the build side as they will further their automation leveraging robot work.
 
Jaw said:
It was, but the CCP has been smart enough to use weaponized capitalism with a communist political structure instead of handicapping themselves with socialism.
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There is a narrative that China is flourishing economically and it’s pretty overblown.

They are in a full blown housing crisis. Local demand /consumption is in a toilet bowl. A lot of their manufacturing industry is in a race to the bottom.

Yea they can build really cool bridges and we should take some lessons from their infrastructure strategy, but that entire country is entirely dependent on enormous stimulus to a degree that would even make the US blush.
 
chop2chip said:
Good idea from Donald. Companies are too incentivized to focus on short term profits. Quarter end also drives way too much workload to maximize billings. Hope this happens s
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The compliance costs associated with quarterly reporting is completely unnecessary as well.

Its a dog and pony show which always ends up with the audit partner signing off.
 
chop2chip said:
There is a narrative that China is flourishing economically and it’s pretty overblown.

They are in a full blown housing crisis. Local demand /consumption is in a toilet bowl. A lot of their manufacturing industry is in a race to the bottom.

Yea they can build really cool bridges and we should take some lessons from their infrastructure strategy, but that entire country is entirely dependent on enormous stimulus to a degree that would even make the US blush.
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Thanks for this.
 
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