/biz/ - Business & Finance

2021 was your literal last chance to make it. Why?

Two reasons: Fed induced recession + AGI

The fed has to induce a recession to destroy inflation, they HAVE to crush demand, this means rising unemployment and shitty wages for at least the next 5-10 years. It’s especially clobbering white collar workers (where all the actual money is in the workplace), so you have an excess of white collar labor chasing fewer and fewer positions, naturally you’ll have shit wages that stagnate (see mechanical engineering, for example).

But it’s also going to be a double whammy for white collar workers as AI is ~5 years away from being competitive in the white collar workplace. What this means is that employers will be able to go to a website, put in a list of job requirements, and they’ll receive a handful of “digital workers” (AIs) that will be able to do basic day to day office tasks like sending and receiving emails, putting together spreadsheets or presentations, providing information or guidance to other workers, answering external questions etc.

So even if asset prices do rise again, good luck having the amount of money needed to buy a substantial amount. I’m sorry to tell you that 2021 was it, but with QE ending and AGIs taking the place of all the skilled office workers I’m afraid it’s quite literally over.