Six Things about the US Economy that should scare you to Death

The Public Pension Crisis. State and local governments across the nation have accumulated $4.798 trillion in pension obligations, but they have only $3.607 to cover the promises to employees, The Hoover Institution calculated. That means they will have to come up with $1.91 trillion, and the most likely place it will come from is cutting basic government services.

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The Luddites are coming!!

We must learn to understand Luddism and deal with it because the Luddites are coming. Many of them are already here but many more are on the way. If technologists do not find ways of dealing with Luddites and their arguments there will be violence and people will get hurt.

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Why you should be Scared of Robotization

“There is also nothing in economics that guarantees that the humans displaced from jobs by robots will end up with new jobs that pay as much as their former jobs, or pay enough to attain a middle-class lifestyle,” Freeman noted. “The main thing to fear today is not joblessness, but a future in which the earnings of workers are stagnant or falling (as robots take a greater share of high-productivity jobs), and the share of income going to the owners of the machines increases.”

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