Cast Offs of the American Economy–Disposable Workers–Technology Replaces Some Jobs But Intangible Algorithmic Market
Posted Aug 14 2012 3:05am
This is a good video and very well done that shows where the US is today with jobs and why companies are not expanding and creating more of them. The US economy rides today on over inflated algorithms with banks, companies, you name it. The great mortgage crisis could not have been created without the system that ran it, the algorithms; however, in the rush all data was not connected as it played out, which for consumers was a good thing. Our nation is way out done by the private industry when it comes to technology and frankly some of our executives appointments should retire soon as technology has moved forward far beyond their abilities to just be figureheads anymore..thinks of HHS and the SEC namely.
Nothing personal but when Sebelius was nominated I wrote a post here and said that she would be overcome with technology in a short amount of time and that’s what’s going on, again nothing personal but without hands on somewhere in technology today, figure heads just have to wait and wait and read, and learn when an executive with some hands on experience cuts that time down to nothing. Even our Congress could not see a tool to use to model better laws so up to Citibank on Wall Street IBM Watson goes, and with big data there more data mining of information to sell, they get richer and DC is still scratching their heads in amazement that the computer can play Jeopardy, and I don’t think they have moved beyond that point at all. Attack of the Killer Algorithms Chapter 22 discusses this topic in detail.
This was interesting to see Cleveland, which the city is also home to the infamous Cleveland Clinic. You can listen to the folks talk about the jobs that are now there and they pay $15 to $20k a year less and require more. In contrast Boston shows as a place where there are jobs while Cleveland is projected to lost another 10k jobs. But you also have to look at the jobs in Boston as they are technology jobs and some produce products but some are just companies that produce more algorithms, it’s a mix. The “new normal” is going to be hard for cities such as Cleveland to survive. To retrain America we need money no better place to get it than from the companies, banks, financial institutes, social networks that sell data instead of focusing on manufacturing and creating jobs. We are out of balance and companies are moving over seas as well. It is a bit of a false economy and at the link below I go into a lot of detail on how society is being “Algo Duped” today and the algorithms move money to the rich, plain and simple.
50 million in the US are living at poverty levels today and the algorithms keep inequality and lack of enough manufacturing jobs alive, sad to say. It doesn’t matter who’s in the White House today as the IT infrastructures run on servers 24/7 making life impacting decisions about all of us and basically is what was behind the Occupy movement; however they themselves for the most part could not see this but knew something is not right. Below a suggestion on devaluating some algorithms so companies will have an incentive to once again manufacture in the US and not rely on selling data as the top means of commerce now and in the future, we need both tangibles and intangibles to survive and preserve a piece of America that is quickly being lost with moving money and data for those “desired” results. There’s not even a lot left for the average long investor anymore to put faith and money into helping a company grow as it has gone the way of the algorithms for profit with little or no auditing for accuracy today. BD
A trip to Cleveland finds workers struggling to find jobs and then helplessly watching those positions disappear all too quickly, especially in manufacturing. But in Boston companies are having a hard time finding enough skilled people. August 10, 2012