Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at some economic effects of the A.I. revolution. (See the Economy & Finance section.)
Precious Metals:
From Kitco: Gold and silver’s next act – Matt Watson on precious metals and growing industrial demand.
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Jordan Roy-Byrne, over at Gold-Eagle.com: Historical Comparisons for Gold Right Now.
Economy & Finance:
From Fortune: IMF official delivers stark warning on AI’s potential to turn an ordinary downturn into a severe economic crisis.
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Is AI to Blame for All These Layoffs in 2024? The article begins:
“Despite a “booming economy” and soaring profits, tech companies like Google, Amazon, and Microsoft have laid off over 42,000 people so far in 2024, according to Yahoo Finance. However, it’s not only tech workers who are suddenly finding themselves out of a job. Business Insider reports that UPS will cut 12,000 jobs in 2024, including 14% of the company’s 8,500 managers. Then there are companies like Expedia, Wayfair, Tesla, and Nike, all of whom have seen notable cuts to their workforce in 2024.“
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Harvard Business Review: AI’s Trust Problem.
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Over at the Whatfinger.com: Apple Rejects Meta Partnership, Embraces OpenAI and Other AI Innovators for iPhone Integration.