I drink your milkshake! a metaphor for capitalism

[1989]

are you sure?

From the bureau of labor statistics 5/5/17

 

[Catatonic]

Now, automation is creating most of the problem - it's siphoning off all of the low - low middle income jobs and creating two classes of people - tech workers who are doing well (overall, for NOW at least) and non-tech workers who, with few exceptions, are doing worse. Their prospects will diminish greatly over the next couple of decades as driving becomes automated - where are the lower rungs of the ladder going to be?

And Tech workers are at risk too ... It will not be that long before their skills will be outdated and replaced by AI technologies.

 

[It will be fine]

And Tech workers are at risk too ... It will not be that long before their skills will be outdated and replaced by AI technologies.

Skilled trades are going to survive the longest. Broad knowledge applied to variable situations in unique environments.

 

[Catatonic]

And Tech workers are at risk too ... It will not be that long before their skills will be outdated and replaced by AI technologies.

Skilled trades are going to survive the longest. Broad knowledge applied to variable situations in unique environments.

Skilled trades where the individual owns their own business is the safest.
Even financial work is being outsourced to Germany and Austria so there is downward salary pressure there. No only that, but financial workers work some of the longest hours of any profession.
Anything that can be automated or outsourced is in danger.
Healthcare would be a fairly safe field as the US population ages.

 

[1989]

Have been on vacation the last 3 weeks. Kinda excited to get a break and go back to work tomorrow.

 

[Catatonic]

Have been on vacation the last 3 weeks. Kinda excited to get a break and go back to work tomorrow.

Yeahhhhh ... Right!

 

[1989]

Yeahhhhh ... Right!

No... calling in sick Monday and Tuesday now.

 

[rickyb]

Where?

Is this the real wages of US or OECD workers, which is level, or does this take into account the tremendous INCREASE in wages experienced by hundreds of millions in SE Asia, China, and India?

this is real wages for US workers.

 

[rickyb]

Why would you need to hear from them before evaluating facts?

because its good to hear it from experts which is why my posts are high quality

 

[rickyb]

From the bureau of labor statistics 5/5/17

i have no idea but im guessing its not adjusting for inflation.

 

[dudebro]

And Tech workers are at risk too ... It will not be that long before their skills will be outdated and replaced by AI technologies.

Not - really. Tech work is a skilled trade too.

For instance, we have highly paid IT people. Why? They don't write much code. Coding gets outsourced overseas but - someone better check what comes back for common sense, and applicability to the situations at hand in our company. The coding itself - subject to automation / outsourcing all day long.

Having that common sense, and knowledge of the architecture and rules of business in our company, is the same level of difficulty as the plumber knowing how to get in the crawlspace under your house and figure out where that leak is. That level of AI is quite a ways off.

 

[Catatonic]

Not - really. Tech work is a skilled trade too.

For instance, we have highly paid IT people. Why? They don't write much code. Coding gets outsourced overseas but - someone better check what comes back for common sense, and applicability to the situations at hand in our company. The coding itself - subject to automation / outsourcing all day long.

Having that common sense, and knowledge of the architecture and rules of business in our company, is the same level of difficulty as the plumber knowing how to get in the crawlspace under your house and figure out where that leak is. That level of AI is quite a ways off.

I was thinking 25 years or so down the road.
Does that alter your assertion?

 

[1989]

i have no idea but im guessing its not adjusting for inflation.

That says a lot...no its not adjusted for inflation at any given time. It is in today's dollars, right now.
You can be the first to hear us labor report for May on June 2nd at 8:30 am edt. It's released the first Friday of every month.

 

[rickyb]

That says a lot...no its not adjusted for inflation at any given time. It is in today's dollars, right now.
You can be the first to hear us labor report for May on June 2nd at 8:30 am edt. It's released the first Friday of every month.

well there you go. usually guys talk about the real wage.

 

[1989]

well there you go. usually guys talk about the real wage.

Real wage? My real wage is on my pay stub. My bonus usually brings it up about $2 an hour. There other sources of income too that aren't in those statistics.

 

[rickyb]

Real wage? My real wage is on my pay stub. My bonus usually brings it up about $2 an hour. There other sources of income too that aren't in those statistics.

you have to adjust for inflation. i know david cay johnston starts off one of his books with it, richard wolff makes a big deal about it, jeff faux, chomsky, etc.

 

[1989]

you have to adjust for inflation. i know david cay johnston starts off one of his books with it, richard wolff makes a big deal about it, jeff faux, chomsky, etc.

I understand the inflationary pressures put on the greenback. You can go back and pick any arbitrary date to manipulate numbers. But am living in today's markets. I have to buy today's houses, today's cars, and today's boats. And pay today's labor prices, today's attorney fees, and today's taxes.

 

[1989]

you have to adjust for inflation. i know david cay johnston starts off one of his books with it, richard wolff makes a big deal about it, jeff faux, chomsky, etc.

Are you adjusting for taxes too?

 

[newfie]

I understand the inflationary pressures put on the greenback. You can go back and pick any arbitrary date to manipulate numbers. But am living in today's markets. I have to buy today's houses, today's cars, and today's boats. And pay today's labor prices, today's attorney fees, and today's taxes.

are you throwing reality into the discussion?

 

[dudebro]

I was thinking 25 years or so down the road.
Does that alter your assertion?

Personally, I place it at 30-50 or more. That kind of deep thinking is something robots can't do even now. They're still just good at three things: repetitive tasks, and jobs or games where the rules are strictly defined, and combing through lots of data.

These skills alone will get automation to surprisingly high level jobs. Many surgeries, lawsuits, and financial decisions are fairly routine with strict rules.