The New York Times assures us that AI writing computer code is “good news for humans” and not a threat to professional programmers. To elaborate, Codex, a new application from OpenAI, can write code for basic programs. OpenAI Codex instantly passed the coding challenge Alphabet (GOOGL) and Facebook (FB) give to programming job applicants, Tom Smith tells Times writer Cade Metz. Smith claims Codex wrote a program that replaces all the spaces in a sentence with dashes and a program that identifies invalid ZIP codes instantly. OpenAI Codex then completed several other coding tasks fast. OpenAI is the AI research and development company Elon Musk founded. OpenAI’s mission to build artificial general intelligence, or highly autonomous systems that can outperform humans at economically valuable work. If the claims about Codex are true, it sounds as if OpenAI is achieving that goal.
Given these realities, I consider the Estate Tax a giant tax break for people such as Bezos and Elon Musk. Musk America’s second richest man, is only 50. If Musk lives as long as Buffett, the federal government or the Republic of Mars will not collect his inheritance tax until 2061.
Therefore, the institutional speculators are generating a real estate bubble. The real estate bubble could collapse and wipe out tens of thousands of people’s retirement incomes.
BioNTech’s bet on mRNA is paying off. Its quarterly revenues grew from $30 million on 31 March 2020 to $2.467 billion on 31 March 2021. Similarly, BioNTech’s Total Assets grew from $803 million on 31 March 2020 to $4.942 billion on 31 March 2021. In addition, the cash and short-term investments grew from $496 million on 31 March 2020 to $1.048 billion on 31 March 2021. One person who believes in BioNTech (BNTX) is Mr. Market. Market paid $50.88 for BNTX on 26 May 2020 and $202.37 for the stock on 26 May 2021.
Consequently, the metric upon which we base property values could be totally unreliable. Hence, lenders and homeowners do not know the actual value of properties.
First Republic’s only customers appear to the be the rich. The bank has offices in such high-income zip codes as San Francisco, Palm Beach, Jackson (Jackson Hole), Wyoming, Palo Alto, Manhattan, Orange County, Napa, Boston, and San Diego.
I think the best indicator of the US Dollar’s decline is the sudden explosion of the Bitcoin (BTC) cryptocurrency’s price.
Trumpism is nihilism. The Internet Encyclopedia of Philosophy describes nihilism as “the belief that all values are baseless and that nothing can be known or communicated. It is often associated with extreme pessimism and a radical skepticism that condemns existence. A true nihilist would believe in nothing, have no loyalties, and no purpose other than, perhaps, an impulse to destroy.”
I expect the first American food riots in February or March if the present gridlock in Washington DC continues and Congress does not wise up and start making regular stimulus payments.
I think the reason the celebrity death rate seems lower than the general population is obvious: income inequality.
Americans need to be afraid because the world’s investors and speculators have voted with their money and elected China the global financial leader.
Those people fear the United States is no longer a safe place to conduct business. The executives fear that coronavirus, political unrest, riots, violence, economic upheavals, and income inequality make America a dangerous place to do business.