Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Sloppy opinion piece. Stock market increases are bad because it makes rich people happy, but select US sectors are lagging behind Europe which is somehow also bad. Low immigration resulting in a labor force squeeze is bad, but this is offset by reduced demand because of AI, which is, you guessed it, also bad lol


Stock market increases are bad if they are being put to something unprofitable, whuch AI seems to be. Lagging behind Europe is bad because the US loses its competitive advantage, which can become a vicious cycle and kill the sector entirely. Low immigration causing a labor force squeeze is bad because critical industries like farming have crops rot on the field, causing food waste. Reduced demand because of AI is bad because it lowers employment, causing people to become destitute, desperate, and/or dead.

None of this is contradictory.


Why is this sloppy. The author is not saying that AI is bad but that the current capital being invested in the UD is mostly betting on AI.

If you remove AI then what is left?


I'll try again- if market increases are bad, why is it bad to lag behind certain sectors in he EU? (sidestepping the inconvenient truth for the author that a majority of Americans are invested in the stock market). If a shrinking labor market is bad, why are AI productivity gains bad?


It is bad because the market increases are all in one unproven area and if that doesn't work out, everything will crash.


> If you remove AI then what is left?

AI


Bad news sells, especially about leading people/companies/countries.

"${rich_guy} is doomed" will get more clicks than "poor people can now afford 5% more daily protein than last year".


[flagged]


This is deeply, deeply untrue. There is a direct relationship between low unemployment and high inflation.


Inflation is only bad when you have cash.

On the other hand low unemployment creates a pressure to raise wages.

Which causes the inflation because you can charge people more.


Does inflation rise faster than wages? In the US with unionization so suppressed labor has no leverage.


Low unemployment means there is more competition among employers for workers. This competition takes the form of higher wages.

Higher wages means the price of what is produced goes up: inflation.

This is why central banks try to keep unemployment down to, but very definitely not below, anywhere from 2-4 percent, depending on the country.

This is pretty much an economic law of nature, so to speak.


We saw under Biden that wages for most people outpaced price inflation, but "most" isn't "all," and it was disproportionately working out well for people who were wealthier.

Regardless, people loathe inflation even if their wages keep up with it. It makes them feel like their career progress is being robbed from them.


and consumers of domestic products




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: