-
Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.
CEOs fear a recession more than anything else in 2019
- Thread starter FantasticMrFoxdie
- Start date
glorious orange leader said he loved the last recession because he was able to buy up a lot of property dirt cheap.
Fuck capitalism.
It's sustainable if China wins the AI wars which right now they're doing. AI Is going to be such an economic disruptor in the next few decades that if China can get ahead there and begin the autonomous revolution their growth will explode to the point where the empty cities don't even matter. Their ability to collect data on their citizens (visual, audio, medical, financial, etc.) on such a large scale and with little to no privacy concerns that most western countries deal with is such a huge leg up for them on developing more advanced AI. They're able to feed so much more data in to AI machine learning and it just continues to build on itself. US tech companies are now trying to get into (or back into) China because of this and there's areal risk that they're going to start lapping the west.
Maybe you guys should stop lobbying world governments to tear down your already generously low tax rates so us unwashed peasants can actually buy your shit?
Exactly. Probably have made a fucking killing with the tax breaks too.
It's coming. Trickle down has been proven to not work. The only way to avoid a recession is to get more money in the hands of the working class and do it now. They will spend that money because there is zero incentive to save at low interest rates. Tax cuts for the wealthy and large corporations have never once, in the history of capitalism, stimulated economic growth. Not once. Cut taxes and increase wages for the working class though, and things start booming. Either that, or start a war.
There's good money in singing lullabies to CEOs, I'd take that gig as well.
A recession would probably help with Climate change. Recession means less people buying shit which means less factories running.
Carbon emissions dropped a good amount during the last recession.
So how do we protect ourselves against this? Keeping our life savings in the banks is a bad idea, right?
I didn't even know ERA knew about that podcast.
Y'all doing Gawd's werk.
CEOs: We're deadly terrified of a recession as a result of wealth distribution to the already obscenely rich.
Leftist: Then how about higher marginal taxes and higher worker wages to redistribute wealth back in the public domain and bolster consumer stability?
CEOs: No
Leftist: Then how about higher marginal taxes and higher worker wages to redistribute wealth back in the public domain and bolster consumer stability?
CEOs: No
For some reason this talk reminds of the hysteria that surrounded Japan at the height of its economic bubble. They too were going to leap ahead of the west with their advance "5th Generation" computing strategy. Books and articles were written about the west were going to lose their leadership. But we all know how that turned out.
As someone who actually works in a particular area of AI I find it hard to believe that AI itself is an economic panacea in itself. Yes there will be some degree of greater automation but I wouldn't expect massive improvements in GDP.
