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Italy Votes No - Markets Soar

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on Thursday, 08 December 2016 08:48

Despite the uncertainty of another anti-EU vote in Italy, the 3rd largest European economy and 4th largest debtor nation in the world the markets shook it off and rose sharply. What happens next if a total collapse of the EU is said could evolve into "the most violent economic shock in history"

...more from Michael: The lesson of Cuba - Which System is better - it's not even close

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Mike's Content

More From The Age of Consequences

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on Monday, 05 December 2016 08:47

Problems in Europe don't seem to dissuade some Canadians wanting to have the European system in Canada. Beware though, it didn't go well in Italy last night an and if Italy leaves the Euro common currency many think it would trigger the greatest financial disaster in history.

...more from Michael: They're Still Blowing Your Money - Does Anyone Care

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Mike's Content

A Very Special Day

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on Wednesday, 30 November 2016 11:42

This is a day that rejects the adversarial confrontational path, a day where you can participate in improving your community by making a pledge to Orhpans in need. Join Michael between 2 and 4 today on CKNW's Ophans Fund Pledge Day, where he will do his utmost to enhance the health and welfare of children in BC. Please give generously. Donate HERE or call Michael.

....also from Michael: Somewhere Between Ridiculed & Violently Opposed

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Mike's Content

The Latest From The Anti-Capitalist Crowd

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on Saturday, 26 November 2016 14:14

Establishment economics, establishment politics and the establishment media aggravated voters prior to the US Election, and their reaction afterwards indicates that they simply don't understand the nature of the problem.

...also from Michael: Fidel Castro dies. Justin Trudeau Issues Outrageous Statement

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Mike's Content

The Truth - It's Time to Blow It All Up

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on Monday, 21 November 2016 07:29

There is so much work to be done. An example can be found in Los Angeles where the judiciary, government unions and politicians  have conspired to award a certificate for life after 2 years to 98% of teachers. Despite California students ranking at the bottom in the entire US. No wonder teachers send their own kids to private school!

....also from Michael: Buckle Up - Interest Rates Are Heading Higher

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Mike's Content

Robots Demand $2 an Hour

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on Friday, 18 November 2016 08:43

A study says that by 2025 the cost of  a robot that does welding will be less than $2 an hour. That'll keep Union Shop Stewards awake at night. Australia's Dept. of Industry  predicts that 500,000 high skilled jobs like accounting and finance will be replaced by robots and automation! There's a lot of competition for a job. (Transcript & links below)

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One subject that can always guarantee some angry emails and usually name-calling along lines of "I’m a moron to suggest that technological substitution has to be considered in so many areas from minimum wage, to government subsidies, healthcare reform and transit. It's a good bet these people won't want to consider the impact of technology on the Presidential election, where Donald Trump rode blue-collar job losses to the white house in some key states. 

Mr. Trump blamed foreign competition, especially from China, for those losses but that's not even close to the whole story. Some estimates run as high as 75% of the job losses were due to technology, only 25% to foreign competition. And there's more to come. A quick example, the Boston Consulting Group predicts that by 2025 the operating cost of a robot that does welding will be less than $2 per hour. We already know driverless taxis and trucks are being tested. 
 
Even if some manufacturing jobs to return to the states there's a high probability that hose jobs will already be automated. There's no shortage of reports warning of job losses due to technology. This week it was the United Nations, just over a year ago Australia's Department of Industry released a report concluding that robots and automation could displace more than 500,000 jobs in high-skilled industries like accounting and finance. Very soon too. The Davos World Economic forum predicted the net job loss of 5.1 million thanks to the tech revolution.
 
Mr. Trump's victory illustrates technology is not just impacting jobs. The failure on the part of the political establishment to first understand, and then help workers adjust played a major role in the election outcome.
 
Michael Campbell 

....also from Michael: The Main Investment Theme For the Next Decade

Join Michael for Money Talks every Saturday from 8:30am to 10:00am PST. Listen live on CKNW.com, CHQR.com or via podcast at Moneytalks.net

 

 



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