I sat and read through a couple of pages of a 'paper' written by two researchers from University of Penn and Boston University. Title? "The AI Layoff Trap"..
What they got into....there's layoffs going on....with AI coming to replace the folks.
These laid-off employees used to spend money. Now? They don't.
The economy is designed for people to have money....spend money, and not really capable of evolving.
So the companies that laid people off....will likely go bankrupt down the line....because there's cash flow with the economy with no purchasing power. AI certainly isn't going to buy a bass-boat....spend five days in Aruba....or ever need a $88k Ford pick-up.
What the report leads to.....these top level managers have to grasp the situation and realize the impact approaching. Great quote....."Fire workers.....Lose customers.... Lose revenue.... Collapse."
There's also this other odd 'twist'....if people are eliminated from jobs....purchases decrease....sale tax-revenue starts to crap out....states and cities can't manage their yearly spending, without more new additional taxes.
There's a tidal wave approaching, but it's probably too late to say or do much of anything.
