Quote:
Originally Posted by VRPdommy
The economy is not BOOMING.
Corporate profits are BOOMING because they CUT JOBS. There are no profits in JOBS ! And no tax collection either so your share of taxes goes up with each job loss.
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Welcoming Our New Robot Overlords
https://www.newyorker.com/magazine/2...obot-overlords
Quote:
[F]or decades, the conventional view among economists was that technological advances create as many opportunities for workers as they take away. In the past several years, however, research has begun to suggest otherwise. ?It?s not that we?re running out of work or jobs per se,? David Autor, an M.I.T. economist who studies the impact of automation on employment, said. ?But a subset of people with low skill levels may not be able to earn a reasonable standard of living based on their labor. We see that already.? As automation depresses wages, jobs in factories become both less abundant and less appealing.
This process, Autor and other economists argue, can also exacerbate inequality. The labor market is built around the idea of labor scarcity: each person has a bundle of labor?his or her own capacity to work?that employers need and that she can sell in the job market through employment during the course of a career of thirty years or so. That model is eroding. ?It doesn?t mean there?s no money around, but it?s just accruing to the owners of capital, to the owners of ideas,? Autor says. ?And capital is less equitably distributed than labor. Everyone is born with some labor, but not everyone is born with capital.? ...
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Taking some profit (maybe all if tax deferred) but I would not short the stock market in the short term
I like TBT for shorting the US treasury bill market -- interest rates will rise no matter what probably.
