4 ms·
Without being all doom and gloom, we really are on the cusp of a massive economic change that will happen over the next 10 - 20 years - Loss of jobs from autom
by snomad 9y ago
Without being all doom and gloom, we really are on the cusp of a massive economic change that will happen over the next 10 - 20 years
- Loss of jobs from automation
- Large scale commercial real estate bust
- large scale US municipal bankruptcy resulting largely from underfunded pensions (the states of Illinois and New jersey will both run out of reserves by 2030, probably sooner)
- Most importantly, neoliberal economic policy rests in part on a natural inflation rate. With shrinking populations, their is no natural inflation rate. Absent immigration, Europe and America would largely be flat or shrinking. No guarantee the immigration rates can continue to make up for declining birth rates.
- jdhn 9y agoI'd say that Chicago goes bust before Illinois does as their situation is more dire, and there's no way that the state would be able to take on their pension debt.
- gnopgnip 9y agoHow is this any different than the loss of jobs due to automation from the industrial revolution, or the cotton gin?