The technological jobs apocalypse will be a nightmare for educators and governments if these projections come true. For instance, 54% of employees will require significant re-skilling and retraining by 2022, The World Economic Forum speculates.
“Big Short” investor Michael Burry is predicting an index fund meltdown that could wipeout millions of Americans’ retirement accounts. Curry is legendary as the man who predicted the Great Meltdown…
Cutting the interest rates may not help real estate market. In fact, interest rates were already at 4.75% on 31 July 2019, which is low, The New York Times notes. To clarify, the average mortgage interest rate over the past 30 years was 6.25%. In contrast, Freddie Mac estimates the average mortgage interest rate was 3.75% on 1 August 2019. New home sales fell by 2% between June 2018 and June 2019, The New York Times estimates. Moreover, investment in residential structures has been falling for six straight quarters. Under those circumstances new home sales are below their post 2008 peak in 2017.
“The foreign policy of the United States has become detached from any defensible conception of U.S. interests and from a decent respect for the rights and dignity of humankind.” To counter that the Institute plans to bring left and right wing foreign policy critics together to craft a new foreign policy of restraint.
Therefore, math exposes just how great income inequality is. Americans need to pay attention to the math, if they want to understand what is wrong with their economy.
“Step back and think about that,” Moynihan says of BOA job cuts, since he took over in 2010. The reduction is “more employees than Delta has I think. All caused by the ability to apply technology to processes and capabilities, and customer behavior changed.”
Furthermore, America’s average household income would be $138,134 if we based it on per capita GDP. To elaborate if you multiply $53,128.45 by 2.6; the average household size, you get $138,134. Moreover, the average per capita household GDP for a family of four in 2017 was $212,514.16. Hence, most Americans do not share in the growing national prosperity.
A basic income can serve as reparations for slavery; and other crimes against African Americans, without penalizing white people. In fact, most whites; and many white nationalists, like basic income because they will receive it too.