Please stop calling AI 'artificial intelligence.' Stay with the same initials, but they mean Automated Informatics. There is no intelligence involved, artificial or otherwise. AI only spits out what it is fed. Is it a danger? Will it replace white collar workers? Absolutely. It is a tool of the plutocracy running the world, not some boogeyman that came from zeros and ones. Which I think is even more frightening.
I remember when Expert Systems came out in the days we bought computer programs in stores, not Apps on line. They were limited but handy for keeping track of inventories of parts or products and listing process steps. Later I was hearing the Term AI meaning Algorithmic Imitation.
I watched Johnny Bravo and Steven Van Metre last night and they seem to concur with what you said here regarding the S&P 500. Zero Hedge also savaged the employment numbers yesterday.
On AI: I think it is a real threat because of the WEFers and Tech Giants who have turned AI into a religion, particularly Artificial General Knowledge AI as opposed to the more helpful expert assistant specific purpose AIs which will definitely impact Careers such as Accountants, Lawyers, stock traders, and other white color jobs. The more robotic AI run manufacturing systems will take a lot of blue collar jobs. But, I think there is a serious flaw in AI that I was twigged to this morning reading "A Midwestern Doctor's substack: Cognitive Filters in the Age of Information Overload. in the following statement: "I realized all artificial systems have a predefined limit to the complexity they can reach. Conversely, with human beings, there is an almost unlimited degree of complexity present" Food for thought. The article is a good read.
It appears that a large percentage of the jobs the BLS is reporting as New Jobs are actually going to foreigners. E. J. Antoni: " A fifth concern from the BLS data is that native-born workers have been left behind for the last three years. The employment level of these Americans is millions below its pre-pandemic trend, while foreign-born workers returned to their pre-pandemic trend over a year ago."
I see the same thing: The stock market indices are masking what's really happening. This is the pattern that indicates the start of the topping phase for the stock market. The next shoe to drop will be when the advance/decline line turns downward.
One observation I made was that most of my clients' portfolios on Friday were showing small gains or negative numbers, with more down stocks than up stocks. The ones that were positive were overweight the technology sectors, while those with more diversified portfolios were negative for the day.
I am expecting that we will witness a rug pull sometime in the first half of February, that will be a one-day or two-day event that may see the S&P 500 drop 5% (about 250 points) that will shock most of the public. I don't think it will be destructive for the market as a whole, but it will probably scare some people away from the tech sectors for a few weeks.
I think it obvious AI (Automated Informarmatics if you prefer) will create more jobs in the short run and they will be high paying tech jobs. As the AI machines come on-line and are able to master the processes they're designed to do low skilled workers will find the unemployment lines.
In the 20-30 year time frame, many jobs will be done by machines, including much of the manual labor being done now. At some point even car mechanics will be automated once a machine can more cost effectively replace the entire engine or electric system in a vehicle. Just as PC boards have become throwaway, there may be time when the entire vehicle is! Thank goodness, NOT in my lifetime.
Please stop calling AI 'artificial intelligence.' Stay with the same initials, but they mean Automated Informatics. There is no intelligence involved, artificial or otherwise. AI only spits out what it is fed. Is it a danger? Will it replace white collar workers? Absolutely. It is a tool of the plutocracy running the world, not some boogeyman that came from zeros and ones. Which I think is even more frightening.
I remember when Expert Systems came out in the days we bought computer programs in stores, not Apps on line. They were limited but handy for keeping track of inventories of parts or products and listing process steps. Later I was hearing the Term AI meaning Algorithmic Imitation.
AI will further dumb-down society
artificial intelligence HAS dumbed down ,,,,. JUST ASK Truk Leppur
UNITE WITH GOD AND LIKE MINDED INTELLIGENCE AGAINST IGNORANT EVILS
I watched Johnny Bravo and Steven Van Metre last night and they seem to concur with what you said here regarding the S&P 500. Zero Hedge also savaged the employment numbers yesterday.
On AI: I think it is a real threat because of the WEFers and Tech Giants who have turned AI into a religion, particularly Artificial General Knowledge AI as opposed to the more helpful expert assistant specific purpose AIs which will definitely impact Careers such as Accountants, Lawyers, stock traders, and other white color jobs. The more robotic AI run manufacturing systems will take a lot of blue collar jobs. But, I think there is a serious flaw in AI that I was twigged to this morning reading "A Midwestern Doctor's substack: Cognitive Filters in the Age of Information Overload. in the following statement: "I realized all artificial systems have a predefined limit to the complexity they can reach. Conversely, with human beings, there is an almost unlimited degree of complexity present" Food for thought. The article is a good read.
Link: https://www.midwesterndoctor.com/p/cognitive-filters-in-the-age-of-information
It appears that a large percentage of the jobs the BLS is reporting as New Jobs are actually going to foreigners. E. J. Antoni: " A fifth concern from the BLS data is that native-born workers have been left behind for the last three years. The employment level of these Americans is millions below its pre-pandemic trend, while foreign-born workers returned to their pre-pandemic trend over a year ago."
See: https://www.foxnews.com/opinion/5-ugly-details-biden-admin-wont-tell-you-about-december-jobs-report
So, AI or no AI, blue and white collar Americans are getting F'd.
I see the same thing: The stock market indices are masking what's really happening. This is the pattern that indicates the start of the topping phase for the stock market. The next shoe to drop will be when the advance/decline line turns downward.
One observation I made was that most of my clients' portfolios on Friday were showing small gains or negative numbers, with more down stocks than up stocks. The ones that were positive were overweight the technology sectors, while those with more diversified portfolios were negative for the day.
I am expecting that we will witness a rug pull sometime in the first half of February, that will be a one-day or two-day event that may see the S&P 500 drop 5% (about 250 points) that will shock most of the public. I don't think it will be destructive for the market as a whole, but it will probably scare some people away from the tech sectors for a few weeks.
If they (Law and Odor) come for P. trump, should he flee to say Argentina or Hungary and be a Government in exile?
Food for thought.
Artificial intelligence engines and tools will ultimately: ?? Depends on who uses it. Good vs. Evil.
I think it obvious AI (Automated Informarmatics if you prefer) will create more jobs in the short run and they will be high paying tech jobs. As the AI machines come on-line and are able to master the processes they're designed to do low skilled workers will find the unemployment lines.
In the 20-30 year time frame, many jobs will be done by machines, including much of the manual labor being done now. At some point even car mechanics will be automated once a machine can more cost effectively replace the entire engine or electric system in a vehicle. Just as PC boards have become throwaway, there may be time when the entire vehicle is! Thank goodness, NOT in my lifetime.
Nice read. I expended on the technical analysis part for the S&P for anyone interested: https://3arabcrypto.substack.com/p/s-and-p-technical-analysis-anticipating?r=3b4y9p&utm_medium=ios&utm_campaign=post
Your information is always spot on. Please stay the course.