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Comment Re:Better be ready to be beat up when layed off wo (Score 1) 532

Go to neighborhoods dominated by Section 8 housing. A large percentage of the population there has free housing and food? This will be live under a Universal Basic Income. Are the people in these neighborhoods happy? Content? Are they filling up their free time with hobbies, taking care of their neighborhood? Living a kumbaya life? No.

The above iis true in white neighborhoods and black; in the US and elsewhere.

UBI solves the problem of starvation and homelessness but there is much more to the equation then those two factors.

Sex Ed has nothing to do with it. There has been one study and documentaries after another showing that ignorance and access of reproductive measures have nothing to do with it. (At least not in the US in the last 20+ years.) People (read women) make a conscious choice to have children they can't affortd.

Comment Re: Better be ready to be beat up when layed off w (Score 1) 532

So then you are looking at specialized equipment thinking it can replace a human at a generic job? I think you are doing a couple of things wring here: underestimating our desire to build generic robots while overestimating capacity of specialized equipment to replace people at generic jobs within newer companies that don't have the capital to acquire or build very specialized equipment. In either case I think my points still stand, if the equipment is too specialized and expensive, humans can compete if they can provide quality, if the equipment is so general purpose and ubiquitous that anybody can afford it with a few months of pay, then people would be acquiring it to rent it out to businesses or to do jobs just like the owner operator truck drivers of today.

As to taxes and regulations, obviously they are making human labour less competitive compared to capital, is this even a question? A robot will not sue the company for 'wrongful termination' or for 'sexual harassment' or anything else for that matter (regardless of the merits). Regardless of what /. says, robots will not form unions,there will be no mandate for payroll tax or minimum wage or medical insurance, etc. These are government inventions that make people uncompetitive against labour.

Comment I hope AI can make coding redundant (Score 1) 74

We should hope that AI can learn to code and do it well enough that I could converse with it in a human language, define the problem as I see it and it would immediately (it would be immediate, right) give me a number of ready solutions to pick from. The amount of new product development that could take place would be staggering, we could quickly realise any idea, I hope that the AI would be good enough at that point to do user support and maintenance for the selected solution.

You, guys, are basically looking at it all wrong. Why shouldn't we desire to have systems at our disposal that would be good enough to create software (and at some point hardware) that we could 'program' by explaining high level requirements to a machine? The machine would have to ask more questions, the testing would reveal problems, the machine could do support and maintenance. I see this as a huge net positive, not as something that would hurt us but as something that would save us from decades of sitting on ass, getting less and less active over time, going blind from the screen... And we could never achieve everything we needed anyway at the speed of a human coder.

Comment Re:Apple PAYS for your SS, Medicare, Welfare and W (Score 1) 224

No, US bonds are the definition of ponzi scam that even Madoff would be awed by. U S A cannot return the borrowed VALUE of the money, that is what the Fed and the rest of the central banks are involved in, global inflation, writing off the debt without admitting the technicality of the default. The actual USA debt is all of the federal, state, municipal, corporate and personal borrowing that exceeds 221 trillion dollars and cannot be repaid under any circumstances.

Comment Apple PAYS for your SS, Medicare, Welfare and Wars (Score 1, Interesting) 224

The actual headline should be: USA government is still able to run the ponzi scams such as SS, Medicare, all other Welfare payments as well as waging its wars thanks to Apple and others who are *STILL* purchasing and holding their bonds.

Apple is getting $6 from each individual in interest rates over *YEARS*? Think about it: over *YEARS* Apple has gained *ONLY* $6 per person while buying insane amount of US debt.

Apple is losing money in this transaction, it could have used that money much more effectively in many other ways and instead they are buying US Treasury debt.

Apple and the rest of the bond holders: what are you going to do when there is a mass exodus from the US debt? Will you be the first in line to dump it? I think you are not going to be the preferred seller.

Comment Re:So you say, Solandri.... (Score 1) 251

To the contrary, the Fed employed a large variety of new techniques.

- all of these so called 'new techniques' are the same old technique of printing money. The so called 'operation twist' (it should be called 'operation screw you' instead) was about the Fed taking upon itself to absorb the long side of the curve, buying long term bonds and selling short term bills, which means turning the US debt into short term, variable rate mortgage. Yeah, that worked so well in the housing market, why not do it for the entire government debt, right?

USA is *not* on any path to increase interest rates. That's buying into the nonsensical government propaganda hook line and sinker. USA SHOULD have normal interest rates and should have NEVER went to 1% with Greenspan and to 0 with Bernanke.

Until Bernanke, Greenspan has proven himself to be the worst idiot and after him Bernanke has proven that no amount of idiocy can be unmatched a worse idiot and then Yellen has proven that gender doesn't matter at all, idiots come in all forms, sizes and genders.

Greenspan was an absolute disaster, Bernanke was an absolute disaster, Yellen is an absolute disaster in a skirt. What's funny is that at least Greenspan admits it *now*, maybe it will take Bernanke another 10 years to admit it as well. Yellen will never admit it.

Comment Re:I think you're mistaken about gold (Score 1) 251

Deflation seems like it helps people who have already accumulated wealth. Inflation seems like it helps people who have not accumulated wealth.

- completely wrong. Deflation favours savings and puts people on the right track to accumulate wealth and to use it productively while inflation favours spending *instead* of production, it gets the borrowers off the hook, because they don't have to give back what they actually borrowed, it hurts savers, encourages borrowing for spending and because it is done with the hand of the government (through the Treasury and the Fed and other banks working together) it moves new money to the preferred and connected people, while causing rising prices for everybody else.

Inflation favours the politically connected and hurts the rest.

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