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Bain consultants' macro trends department have released a report examining trends in demographics, automation and inequality to produce a set of predictions.
This kind of report seems to be all over the place these days, but this one seems more detailed and perhaps a little less optimistic than most.
In the US, a new wave of investment in automation could stimulate as much as $8 trillion in incremental investments and abruptly lift interest rates. By the end of the 2020s, automation may eliminate 20% to 25% of current jobs, hitting middle- to low-income workers the hardest. As investments peak and then decline—probably around the end of the 2020s to the start of the 2030s—anemic demand growth is likely to constrain economic expansion, and global interest rates may again test zero percent. Faced with market imbalances and growth-stifling levels of inequality, many societies may reset the government's role in the marketplace.
They predict that governments will assume a larger role in markets to combat inequality and boost demand, but will our corporate overlords decide that's in their interests, or continue to squeeze the lower and middle classes forever?
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(Score: 0) by Anonymous Coward on Wednesday February 14 2018, @04:16PM
Amazing. This is so many of my neighbors. Stressed to the max. And two trying to make what one used to make.
And if the reports on higher credit card debt are true and it is deeper debt in the south then it will hit that region like a ton of bricks
On top of that the psychological battle of work gives makes you valuable. Work gives meaning. You are worthless if you don’t work. Unemployment is bad. Only the worst would be on welfare. This is a powder keg. High debt as the robots come and the wrong story to prop up you already stressed out life. Oh and kids moving out?
There will be blood. Who knows maybe Jim Morrison was right. There’s blood in the streets it’s up to my ankles.