People not working at all, or working significantly less, is not acceptable by any political system of the western countries. The proof here, is the exponential rate in which debt goes up. That debt is directly funding the anti-automation each political system imposes. In other words, automation has to be stopped, and it's gonna take as much money as it needs.
This anti-automation process, created the biggest bubbles in history, equity bubble, real estate bubble, government bond bubble, pharma bubble, cryptocurrency bubble, currency bubble in short TEB(The Everything Bubble).
That's gonna end of course, and soon. It has just started yesterday actually with some triple A derivatives blowing up again like in 2007. By the end of the summer, the first bubbles will start popping off. It's gonna be fun.
[EDIT] There are more bubbles, I just put some in there.
[EDIT] The triple A blowing up is not correct.
Well, i know a lot about history, political systems when they are at the end of the road, no one really competent can even come close to be a leader. When an incompetent person thinks of a solution to a problem, they choose the worst solution.
In addition to that, there is also the possibility, that political systems themselves will be automated, not 100%, but close to 95% or 99%.
George Gammon made a video yesterday about it. I don't personally know what derivatives even mean, but i do know in 2007 something like that happened, triple A derivatives of mortgages or something.
Even if that's not it, the bubbles will start pop off soon, end of summer or end of the year, and it will take years for the process to complete, 5 years probably. For 5 years, each bubble will pop one by one.
My point is, at the end of the process, and only then, serious automation will start to happen, because they will not have the ammo to stop it.
Ok, it's not right? I will add an edit. I don't know about particular financial instruments, but i do know about the economy.
Automation is constant in everything we do. For example: Protectionism of an economy is a way to fight automation, imposing tariffs on importing cars is exactly that [1]. Trump also plans to do it.
Uber is banned in Greece, or at least not totally legal, and Airbnb the same. Interfacing with any government not totally electronically (like Esthonia) is stopping automation. House zoning laws, and permissions for buildings is also stopping automation.
Sounds in the video like some AAA CMBS had losses (not sure I'd call that a derivative, though). What I meant is why digress into it when it is not your area expertise.
I am not sure I understand how zoning laws are stopping automation or how banning Uber is stopping automation.
George Gammon made another video 21h ago, in which he explains it in depth[1]. Then again, i don't understand that situation with the financial instruments, and indeed it may not have been wise of me to mention it.
In the broad economy however, any protectionist regulation, any anti-monopolist regulation, any protection from myself like narcotic laws, and a myriad of other things, creates bubbles.
In the economy, following Adam Smith's invisible hand, any decision not taken by the individual, but is imposed upon him, and this decision carries along with him a financial cost, creates bubbles. It is that simple.
When an individual wants to hire an Uber instead of a cab driver, there are certain factors influencing his decision, like cost, convenience, quality of service and more. When an individual wants to hire an Uber but he can't, then the inferior product or service will continue to be profitable, until the individual finds a way to get around the laws and regulations.
When that happens, then the people who offer the inferior product or service, lose their source of income in a moment's notice. That's when the bubble pops.
The bad situation here, is that a lot of people will lose their source of income all at once, instead of it being gradual. That's why creating bubbles is not advisable, and it creates explosive and dangerous situations.
In Uber's case in Greece, they are banned somewhat, because as a company they have revenue from Greece, but they don't pay taxes here.
This anti-automation process, created the biggest bubbles in history, equity bubble, real estate bubble, government bond bubble, pharma bubble, cryptocurrency bubble, currency bubble in short TEB(The Everything Bubble).
That's gonna end of course, and soon. It has just started yesterday actually with some triple A derivatives blowing up again like in 2007. By the end of the summer, the first bubbles will start popping off. It's gonna be fun.
[EDIT] There are more bubbles, I just put some in there. [EDIT] The triple A blowing up is not correct.