i am listening to some USA billionaire super stock picker right now. Basically he is saying how automation is going to replace so many jobs, how the USA working class is wrecked and that automation is the place to invest. He spoke of his record of picking Apple, Google, etc, when they were tiny and is now talking about automated cars as the next big investment
recently i watched a very convincing video about how Covid is being used to restructure the 4th industrial revolution, which will revolve around automation
now one thing today's billionaire did not say is the "exponential growth" of his tech stocks have also correlated with a similar (possibly not as large) exponential growth in debt, both private & government
our past industrial & consumerist economy was built on the disposable income of workers
it appears obviously lots of recent corporate growth is based on private & corporate debt growth
how will an automated economy work????
or is the automated world merely a fantasy of the rich & powerful, who will create an automated world worked by slaves (and wipe out the unneeded billions via pandemic)???
