Cheap Gold! Cheap Silver! Buy as Much as You Can!…(If You Can Find It!!)
By: Bill Bonner
Apr 22, 2013
I was innocently watching TV with the family, suffering only a tolerable minimum of constant, simmering anger and paranoia about the horrific economic cataclysm that is descending upon us like a devouring plague because the world’s governments spent themselves into bankrupting debt, people and businesses of the world borrowed themselves into bankrupting debt, and central banks around the world created the irresponsible, impossible, incredible amounts of fiat currency and credit to finance it all.
But all that seemed so blissfully far away from the amusing antics of Andy of Mayberry when my face is suddenly, yet figuratively, slapped alert to the sad, sorry state of economics these days as my eyes fell across The Economist magazine, where it had flipped open to a page that had an article by David Autor of MIT, who postulates that computers and are robots replacing human labor and thus, all mysterious and Keynesian-like, shifting “the production function.”
As the Economist puts it, this “need not be bad news for workers” when they are laid off and abandoned to die of starvation and exposure because nobody needs strong-back/weak-mind workers these days at these labor prices when a robot can do it better and cheaper.