Tag: labor markets

Unexpected: Studies Suggest That Rather Than Killing Jobs, AI Could Revive The Middle Class + More

Tina Marie (Ms. Cat)

We’ve certainly been talking a lot about the “AI Doomers” who insist that AI is all too likely to destroy humanity. However, even people who aren’t fully on board with the existential threat of AI do often say that, at the very least, it’s going to destroy jobs for most people, potentially creating huge problems. For years now, people have been arguing for universal basic income, in large part, because they think that automation and AI will take away everyone’s jobs. I mean, it was a core plank of Andrew Yang’s silly run for President.

Studies Suggest That Rather Than Killing Jobs, AI Could Revive The Middle Class

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[2017] “Another kick in the teeth”: a top economist on how trade with China helped elect Trump

David Autor believes both these things to be true: one, that Donald Trump’s diagnosis of trade with China as the source of woe for countless American workers was both accurate and a crucial part of his appeal on his march to the White House. And two, that Trump’s plan to help those workers by cracking down on trade is likely to backfire.

How much did Trump-era tariffs on China cost Americans? New US findings confirm ‘self-inflicted harm’

Monopolies Cause Inflation, While Fed Chairman Powell Blames Workers

Tina Marie (Ms. Cat)

As American monopolies fix prices higher and higher, the Federal Reserve bizarrely has concluded that employment is to blame for inflation. For months, Fed chairman Jerome Powell has increased interest rates in the hopes of throwing workers out in the street and thus supposedly reducing prices. While I’m sure that corporate, donor-bought congressmembers appreciate his struggles in the class war against the poor and middle class, it’s all a crock.

Monopolies Cause Inflation, While Fed Chairman Powell Blames Workers

[2020] Republicans blasting China forget that the GOP enabled Beijing’s rise

Tina Marie (Ms. Cat)

As a deadly pandemic wreaks havoc in an election year, Republicans are leveling relentless attacks against China. To be sure, Beijing’s initial response to the coronavirus outbreak was littered with errors, egregious injustices and conspiracy-mongering.

Republicans blasting China forget that the GOP enabled Beijing’s rise

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What Republicans did 15 years ago to help create Donald Trump today

Urged on by their presidential standard-bearer, Texas Gov. George W. Bush, and by nearly all of the business lobbyists who represented the core of the party’s donor class, three-quarters of House Republicans voted to extend the status of permanent normal trade relations to China. They were more than enough, when added to a minority of Democrats, to secure passage of a bill that would sail through the Senate and be signed into law by President Bill Clinton.

While Fighting Workers, Railroads Made Over $10 Billion in Stock Buybacks

Tina Marie (Ms. Cat)

“Our research shows just how far railroad executives will go to funnel record profits to their shareholders—even if that means stagnant wages, inhumane attendance policies, and throwing our supply chain into further turmoil,” said one Groundwork Collaborative analyst.

While Fighting Workers, Railroads Made Over $10 Billion in Stock Buybacks

H/T: Unorthodox Truth

Book publishers just spent 3 weeks in court arguing they have no idea what they’re doing

Tina Marie (Ms. Cat)

On August 22, oral arguments ended in the Justice Department’s antitrust trial to block the book publisher Penguin Random House from merging with rival Simon & Schuster. The result of the trial, which is expected to be decided later this fall, will have a massive impact on both the multibillion-dollar book publishing industry and on how the government handles corporate consolidation going forward. Perhaps fittingly for a case with such high stakes, the trial was characterized by obfuscation and downright disinformation nearly the whole way through.

Book publishers just spent 3 weeks in court arguing they have no idea what they’re doing

Despite sweeping sanctions, Russia’s economic outlook has improved since April — but it’s gotten worse for almost every other country

Tina Marie (Ms. Cat)

Link to original article.

Russia’s economy is holding up better than expected amid sweeping sanctions over its invasion of Ukraine, according to the International Monetary Fund’s World Economic Outlook report issued on Tuesday.

Despite sweeping sanctions, Russia’s economic outlook has improved since April — but it’s gotten worse for almost every other country

America Is Headed for Class Warfare + More

Tina Marie (Ms. Cat)

Nothing has revealed the class divide in the U.S. quite like runaway inflation and skyrocketing gas prices. But in addition to the economic impact the staggering incompetence of the Biden administration is having on the working class, there is a political one; it’s undeniably driving working class voters even further from the Democrats and toward the GOP.

America Is Headed for Class Warfare

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“Workers aren’t getting bailed out like the billionaires”: Detroit workers livid over surging gas prices

“It’s just really hard to live”: Chicago workers describe impact of surging food and gas prices