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I agree with you, I think the deflationary effects of technology are vastly underestimated. Have a look around at what technology is doing day-to-day to consump

I agree with you, I think the deflationary effects of technology are vastly underestimated. Have a look around at what technology is doing day-to-day to consumption and costs and it should be obvious, and yet talking heads still expect CPI inflation. We just got a nice patch because of China's malinvestment stimulus but now they are forced to rebalance regardless of Xi. The commodity supercycle is over and that's bad news for many countries (not really the US).

ThomPete 11y ago
Exactly. What happened was that globalization moved the jobs somewhere else, it didn't create more in the west. In fact each decade less and less jobs have been created. The fact is that there is no new industry for people to flee into and if people think there is they have to explain what that would be. https://plot.ly/~BethS/8/job-growth-by-decade-in-the-united-states/ https://plot.ly/~BethS/8/job-growth-by-decade-in-the-united-... As long as economist keep talking about technology as an externality, they have no business talking about where the economy is headed. IMO.
toomuchtodo 11y ago
> The commodity supercycle is over and that's bad news for many countries Bluntly, Australia and Canada are screwed.