GBA Presents: House of Gummy-!

I went out to a fancy place to eat last night. Sat next to a HF guy trying to recruit a rich dude the type that is a total schlub and has no idea about money. It was all I could do not to interrupt their conversation...

I did not drink that much but still I feel heavy headed this morning. I cannot do my martial arts warm ups so instead I just train the mind with some intense focusing and then I do these small dance moves-
 
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Despite AI's promising positive impact on the economy, Roubini and other experts do warn about the drawbacks.

"I think there are meaningful lags [on AI's impact]. And the idea there will be a surge in economic growth in the next two or three years because of AI and technology to me seems to be sort of farfetched," Roubini said. "In the medium long term, technology is going to be deflationary. But we might be facing a decade of stagflation before we see the bright light of technology and AI increasing growth and reducing inflation."

Goldman Sachs estimated recently that generative AI could expose the equivalent of 300 million jobs globally to automation over the next decade. That's a nice way of saying a person may lose their job to a robot.

But to Roubini's point, Goldman notes US labor productivity will grow by 1.5% over a 10-year period following the widespread adoption of generative AI. AI could also eventually increase the annual global Gross Domestic Product (GDP) by 7%.
 
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