Authored by Charles Hugh Smith via OfTwoMinds blog,
Robots are only cost-effective in the narrow niches of commoditized tasks.
In the view of Universal Basic Income (UBI) advocates, substituting robots for human labor will not only free virtually all humans from working, it will also generate endless wealth because the robots will be doing almost all of the work.
Following hopeful survey data and ADP data, today's Challenger, Gray, and Christmas job cuts data is deplorable. A 30.1% surge year-over-year is the worst November since 2012...
The sectors with the largest job cuts in November were Healthcare, Consumer products, and Services.
Cord cutting is a topic which we discuss on a fairly regular basis, particularly over the last several quarters as the subscriber losses for cable companies have seemingly accelerated (see: Cord-Cutting Accelerates, Sends Shock Wave Across Traditional TV). Not surprisingly, one of the biggest losers of the cord cutting phenomenon has been ESPN, a media giant that ironically was one of the largest, if not the largest, beneficiaries of the cable TV bundle since it made its debut in 1979 (see: ESPN Lost 15,000 Subscribers A Day In October).
Submitted by Nicholas Colas of DataTrek Research
Today we want to expand on our recent thoughts on “What are retail investors buying right now?” We showed last week, courtesy of Fidelity Investments data, that mom-and-pops are still adding to positions even on breakouts in US equities. Further, the names at the top of the retail investor league table tend to be single stock Tech names rather than ETFs. Yesterday, for example, Fido’s retail customers were net buyers of NVDA, AMZN, and BABA and those names were the most heavily traded.
Google has announced the latest escalation in its battle to censor “extremist” content on its platforms, a covert campaign to censor conservative voices.
The company plans to hire 10,000 staffers whose sole jobs will be tracking down extremist content that might violate Youtube’s terms of service, according to YouTube CEO Susan Wojcicki.
Wojcicki said that "bad actors" had used the video-sharing site to "mislead, manipulate, harass or even harm" others.