Minimum wages will increase in 20 states at the start of 2017, a move that, as we've argued many times in the past, will simply speed up the rate at which minimum wage workers are replaced through new capital investments in automation projects. Just another example of misinformed politicians passing legislation that will ultimately crushed the very people they're trying to help.
Management at the world’s largest hedge fund is to be automated and replaced with artificial intelligence. A computer software algorithm will decide the day-to-day management at Bridgewater Associates LP, the world’s largest hedge-fund firm. The global labour force is being replaced and managed by artificial intelligence and robotic automation. Various estimates suggest the American employment mill could shrink by 30% by the year 2025. The United Nations’ assessment is even grimmer. They project two-thirds of the human workforce will be replaced in the next decade.
This does not fit with the narrative. Continuing Jobless Claims are up over 6% in the weeks following Donald Trump's election...
This is the biggest surge since May 2009...
Finally, while Jeffrey Gundlach's "granddaddy of recession indicators" is based on the unemployment rate, we not that initial jobless claims are rapidly approaching their 2-year average - which in the past has probabilstically been followed by a recession...
Still stocks are at record highs so what could possibly go wrong?
Submitted by Per Bylund via The Mises Institute,
This year, Mises Institute Associated Scholar Per Bylund released The Seen, the Unseen, and The Unrealized: How Regulations Affect Our Everyday Lives. We recently spoke with Professor Bylund about his book and how the effects of government regulation are more far-reaching and more damaging than many people realize.
MISES INSTITUTE: Why is the concept of the “unseen” so important to understanding the effects of regulation?
If you’ve paid into Social Security, become injured or sick, and can no longer earn more than $1,130 a month, you can get a monthly subsidy from the Disability Insurance Trust Fund. As Bloomberg notes, in 1990 fewer than 2.5% of working-age Americans were "on the check;" by 2015 the number stood at 5.2%, with geographical "disability belts" appearing across America.
Something changed in 2000...