FED Holds Steady

[Terrel L. Shields]

Thus, I have two primary residence."

That does not work on most mortgage loans.

Some top officials are still very worried about inflation.

AI is going to prove to be very deflationary, maybe to a fault.

 

[Non Sequitur]

AI is going to prove to be very deflationary, maybe to a fault.

Yep, entry level employment is a dead man walking. And catching things like borrowers claiming more than one primary residence, I'm not sure the GSEs really want to open that can of worms.

 

[Terrel L. Shields]

 

[Charles West]

AI is going to be disruptive as all get out, but it will raise productivity to heights never before seen. The key will be the balancing act between that productivity and enough expansion of the economy to keep employment at high levels.

 

[Terrel L. Shields]

the balancing act between that productivity and enough expansion of the economy to keep employment at high

Clearly employment is going to suffer from constant change. Telling people to learn coding might have sounded good 10 years ago, but today that is a dead-end job for the most part. The problem is that the jobs built upon understanding coding and computers makes for an extremely high hurdle to overcome. And that is going to be the case of many jobs. Everyone probably needs to prepare themselves for multiple jobs in their career. Perhaps learning plumbing or electrician jobs in addition to high tech, or a science. Robotics and robot repair has a huge future. Even then, the robot repairman may have AI diagnosing the issue and the repair man is simply a parts changer. Real "repair" may not be in the future. Swapping out an entire computerized system may be cheaper than simply changing the bad diode or capacitor in the system. We may see a time when decentralization occurs. We might see the return of the small butcher shop, fruit and vegetable stands, hydroponic grow houses,

We've seen this in the auto industry where we have tire shops, front end alignment shops, transmission shops, oil change stations, Radiator shops, body shops, accessories, and shops that only work on diesels. The one shop does it all may fade to the specialists.

We may see a surge in jewelry repair shops, watch shops, work shoes, cowboy boots, etc.

 

[Non Sequitur]

AI is going to be disruptive as all get out, but it will raise productivity to heights never before seen. The key will be the balancing act between that productivity and enough expansion of the economy to keep employment at high levels.

There's a good chance we'll see automated abundance in many fields especially food production and consumer goods. But what does that mean for those who live in the "One man's waste is another man's living" niches? Guessing we'll find out soon enough.

 

[Terrel L. Shields]

AI will be driving tractors, tilling and planting from a computer. Even harvesting is likely going to be robotic. As a result only the wealth class will own farms and those farms will be thousands of acres with a handful of employees. Food processing will be done with robotics. Sanitation will be with chemicals.

Any assembly line will be robotic. So, what will people do? Craftwork, paperwork and most of that is paperless paper work - you will be banking on line and never see a loan officer or teller. You will buy your food on line. You will buy cars, insurance and everything short of a haircut on line. Get ready for it.

 

[Terrel L. Shields]

A 4th branch of government?

 

[Mark K]

AI will be driving tractors, tilling and planting from a computer. Even harvesting is likely going to be robotic.

Already happening. The workers are there to do little more than attach implements. Combines keep a record of productivity in every part of the field. Next spring the planting and fertilizing is adjusted by computer based on the previous year's productivity. Have a high spot in the field where some of the topsoil has washed away? The computer adjusts and puts down more fertilizer in that spot. GPS has been driving tractors for years.

As a result only the wealth class will own farms and those farms will be thousands of acres with a handful of employees.

Again, already happening. A 'small' farmer in this area is anyone planting under 1,000 acres. There's a handful of farmers planting most of the tillable ground and most are planting between 3-10,000 acres. And they know how to work the system to the extent that an appraiser has more income risk than the farmer.

 

[Terrel L. Shields]