I documented in the thread from which those quotes originate. You can click the link on a quote to go to thread (and post) where it comes from.
Specifically a recent Oxford study predicts 45% of all existing jobs will be lost to automation by 2033. This confirms we are in a period of radical technological unemployment. This appears to happen every 78 years. The difference is this time we are all tied together in socialism by central banks. You can re-read my quotes from the prior post to weigh the gravity of this thud of a realization.
If you are arguing that automation will lead to long-term unemployment, I think you are wrong. Authors have written extensively on this subject since the 1900s (and perhaps earlier). Many were worried that machines would replace men. What we have seen is that automation simply results in higher efficiency and unforseen job opportunities on the automation side. This seems obvious to me, so you must be arguing something else despite what I'm reading here.
Agreed. And they already do. Look what Satoshi did. Watch what I do to Bitcoin as one man.
You're arguing that there will be a push towards away from long-term investments, and I'm arguing that the customer gets what they want. Your average investor isn't a captain of industry. They want to squirrel away their unused money for safekeeping. The market will do its best to offer this to them, as unrealistic as it may be ...
Let me give you an example. Right now I challenge any one to go buy a CPU-only coin design before I release mine.
You can't. Only I know how to make one.
When you make absolute statements that require knowledge of what all sentient beings are capable of / developing, it leads readers to believe that you are disingenuous.
Knowledge that we need doesn't generate from capital. It generates from serendipity and fitness of diverse humans matched up to diverse needs.
We only needed capital when our needs were primarily fixed investment, e.g. factory buildings, factory machines, etc.
The 3D printer and the computer ends that.
The next 20 years will be so radical of change, you will think you live in Jetson's world by 2033. Flying cars, etc.. all manufactured by a guy on a computer.
I think most would agree with this. Seems obvious to me. What isn't obvious is how this
necessarily leads to a decreased demand for long-term investments.
It will be a difficult adjustment for most people. They will futilely resist. As was the case for the Luddites in the Industrial Revolution. We are in the First Computer Revolution. Second will be quantum computing.
I don't think they'll resist at all. It doesn't take long for people to embrace something that (ostensibly) makes their life easier/happier/etc.