I'm not as pessimistic as the OP but the structure of the west's financial systems seem very precariously situated at best....How long can we allow ourselves to run in the red before we figure out that we're digging ourselves a deeper and deeper hole?
The united state government has already detached itself from banks by implementing bail-in infrastructure. They know that the dollar isn't functioning as well as it used to, so they're trying to stall the collapse as much as possible. Anything that they do won't change the final outcome, dollar is broken and a ticking time bomb.
I don't know....major shifts are in the works! When it comes down to it, knowledge will rule....not money! Peer to peer networking is where the REAL value seems to exist. Manual labor seems to be taking a back seat to intellectual labor....it's scary in my opinion!
Machines have been stealing manpower since the beginning of time.
Self driving cars will most likely be the biggest hit on manual labor that I foresee, but until we hit AI singularity, there will be no shortage of new jobs within the tech industry.
These are very true. What I think is being underestimated in our contemporary understanding of economics and what I believe is being evaluated frantically behind closed doors is what I think of as "hive economics." In my mind it is sorta of like measuring a GDP or a labor pool, only less obvious, tangible, and quantitative. It is only in recent times that information has been being gathered and processed in real time to derive "pictures" of how things work economically in the global "hive." This new way of processing information has a means of being monetized that is only now being contemplated....For example, intellectual properties are becoming units of currency without a necessity to have a middle agent to exchange value, contracts being deployed, ratified, and enforced without the need for judges, lawyers, or enforcement agencies....etc. It's not just the way we exchange and attribute value to goods and services that's being replaced, but it's a complete juxtaposition of the way we MEASURE their value.
I know this is an abstract view but I can't think of another way to illustrate what seems to be happening as a consequence of this new information processing revolution that's beginning.