The World Now Faces Two Horrific Nightmares
KingWorldNews.com
May 05, 2016
With gold, silver and the dollar all trading higher, a couple of greats in the business warned about two horrific nightmares that the world now faces.
Bill Gross Warns Robotization Of The World To Create Massive Job Losses
Here is a portion of today’s note from Art Cashin: And He Wasn’t Even At The Dinner – Wednesday, I wrote about the potentially transformational round of robotics and automation that we are likely entering into. That discussion had been sparked at my dinner with David Kotok, et. al, a little over a week ago.
Some friends who read those comments pointed me to the latest Outlook from the great Bill Gross. He had a somewhat similar take on the topic. Here is a bit:
But here’s the thing. No one in 2016 is really addressing the future as we are likely to experience it, and while that future has significant structural headwinds influenced by too much debt and an aging demographic, another heavy gust merits little attention on the political stump. I speak in this Outlook to information technology and the robotization of our future global economy. Virtually every industry in existence is likely to become less labor-intensive in future years as new technology is assimilated into existing business models. Transportation is a visible example as computer driven vehicles soon will displace many truckers and bus/taxi drivers. Millions of jobs will be lost over the next 10-15 years. But medicine, manufacturing and even service intensive jobs are at risk. Investment managers too! Not only blue collar but now white collar professionals are being threatened by technological change.
The Rest…HERE
