Archived Walmart Stock Plunges on Lower Earnings/China Continues Down (marketwatch.com)
submitted ago by novictim
Posted by: novictim
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Archived on: 2/12/2017 1:51:00 AM
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Archived Walmart Stock Plunges on Lower Earnings/China Continues Down (marketwatch.com)
submitted ago by novictim
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[–] yewbontheboat ago
Or maybe our society is moving away from a consumption/production model.
With robots 1 employee can now produce what 10-100 employees could 20 years ago, so those 99 employee are expected to still consume when they no longer have a job.
Added to that new job growth for new industry has not replaced the lost jobs, and all new profits from not having a human labor force are going to owners and shareholders who are then reinvesting in an ever increasing bubble of greed.
The only reason solution is popping the bubble and rebuilding.
[–] novictim [S] 0 points 1 point 1 point (+1|-0) ago (edited ago)
"Or maybe our society is moving away from a consumption/production model."
Try and picture how that could happen. It can't. Consumption = Production is fundamental to all economies of any kind.
Robots do not change that basic equation.