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Business, Economics, and Taxes: Eat Cereal for Dinner

If private sector jobs are going away why aren't investors panicking? Good lord the Ponzi is about to implode and they are propping it up still.
Because they genuinely believe the BS just like every other rube.

And the ones that don’t already have their escape plans prepared. A Swiss bank account, citizenship purchased, and a compound mean it’s not their problem.
 
I heard this analogy and I think it plays best...

In the past 25 years we had a tech bubble crash, a housing crisis and a bank disaster...we are set to have all three in epic fashion in less than a year. (Certainly less than a term)
 
If private sector jobs are going away why aren't investors panicking? Good lord the Ponzi is about to implode and they are propping it up still.
Investors think that the companies in which THEY invested have used AI and don’t need the people anymore.

Funny thing is, I just took an AI class at work that boiled down to AI is a tool that can reduce labor for certain tasks, but don’t trust it implicitly- spend time reviewing the results.

Investors look at AI as the best labor panacea that’s ever panacea...ed.
 
AI is, IMO, at the point where search engines were in the mid '90s. Its a garbage in - garbage out system that the user should be aware of how to navigate.

Instead it's being thrust upon everyone at light speed with disregard.

Each iteration of Google Assistant I've had over the last five (?) years has followed the Microsoft approach of removing a fuck ton of features and slowly adding back a couple dozen every upgrade.

The original Google Assistant (Hey, Google!) was actually helpful and if it didn't recognize something, it prompted you to be clearer.

Then came the update "Okay, Google!" (I may have the pre-trigger word flip flopped) where some functionality was removed and in other areas it would force a command it thought you heard. "Okay Google, set a timer." "Okay, Calling Tammy." some functionality was broken on basic apps like Google Home because it wanted you to just talk to your smart home features instead of clicking in an app.

And now, they thrust the hallucinating Google Gemini on *everything* which has made the search feature absolute shit (that's also a different story about how its a full page before you actually get search results now). But it also broke features that were still hobbling along after the Okay/Hey Google assistants.


Tl:dr; Public AI is still absolute trash and will be for another decade.
 
While I thought I was a technology enthusiast, im slowly becoming a technology engineer.

(As I posted this joke to DX on Bluesky)

Tech Enthusiast: Every appliance in my home is connected through the Internet of Things!

Tech Engineer: I keep a loaded handgun next to my printer from 2004 in case it makes a funny sound.
 
June jobs report drops in six minutes...

*edit*

Unemployment 4.1%

New jobs are +147k

The attacks on Powell are unwarranted.
 
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What's amazing is that if you ignore Covid and the Covid recovery, the jobs market just doesn't give a shit. Interesting how theres a slight downturn at the end of Trump's presidency, and then it takes off after Biden's inauguration.

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The AI bubble bursting is going to be epic in all the wrong ways.
They seem also intent on bursting the power bubble. AI may suck and be worthless, but it's a pretty massive drain on the power system. Hardly what we need. AI is bringing TMI back on line.

It's *possible* that they quicken the development of new power sources, like SMRs, but AI centers are popping way faster than new power stations to power them. They also appear to be a massive burden to the local people, too.
 
What's amazing is that if you ignore Covid and the Covid recovery, the jobs market just doesn't give a shit. Interesting how theres a slight downturn at the end of Trump's presidency, and then it takes off after Biden's inauguration.
Would be more interested in seeing a breakdown. How many of those jobs are union vs wage slave? Or pay below average salaries with subpar benefits?
 
I’m telling ya, it’s brutal. I think these are way off (as I did under Biden)
When the unemployment number came in, the CNBC hosts started to discuss it, but kept bringing up something that made me think of those in your situation. They mentioned how there isn't a metric for the under-employed, those who have given up the job hunt or rolled off unemployment benefits. Which, has been a problem in reporting for as long as I can remember, but came to a head in the '08 crash.
 
When the unemployment number came in, the CNBC hosts started to discuss it, but kept bringing up something that made me think of those in your situation. They mentioned how there isn't a metric for the under-employed, those who have given up the job hunt or rolled off unemployment benefits. Which, has been a problem in reporting for as long as I can remember, but came to a head in the '08 crash.
Yep. Advanced education is not admired currently

My other issue is, the two industries I work in are both shedding people like crazy because some people hate basic science
 
When the unemployment number came in, the CNBC hosts started to discuss it, but kept bringing up something that made me think of those in your situation. They mentioned how there isn't a metric for the under-employed, those who have given up the job hunt or rolled off unemployment benefits. Which, has been a problem in reporting for as long as I can remember, but came to a head in the '08 crash.
After '08 it affected mainly blue collar employees - laid off factory workers who never got called back, and ended up either retiring on what they had, or taking wage slave retail jobs at chain stores like ACE/Home Depot/Lowes.

It's mainly in the last few years that white collar employees have started to feel the sting of this trend, too.
 
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