First Andreessen, Now Goldman CEO Shuts Down AI Job-Apocalypse Doomerism Narrative
Amid the flood of AI doomerism, from Pope Leo XIV's Monday warning that AI and the digital transformation of the economy could unleash "new forms of slavery" and mass job losses, to Bernie Sanders and unhinged socialists calling for a halt to data centers buildouts, a move that would conveniently cede compute power to communists in Beijing, a growing and emerging chorus of dystopian futurists is now trying to frame the AI boom as an existential labor-market crisis rather than the next productivity supercycle that arrives just in time as a demographic winter unfolds.
Adding to recent comments from Netscape co-founder and Andreessen Horowitz (a16z) co-founder Marc Andreessen, who argued that AI-related job-loss fears are merely hysteria and that AI is actually arriving at the moment the nation needs it most:
#macro
Google News Macroeconomics (EN)
|
35m ago
Gold slips as US-Iran tensions lift oil, stoke inflation fears marketscreener.com
#macro
Arab States Voice Outrage Over New 'Illegal' Embassy Opening In Jerusalem
Via The Cradle
Fifteen Arab and Islamic countries condemned on Sunday the decision of the breakaway region of Somaliland to open an embassy in occupied Jerusalem. The foreign ministers of Egypt, Saudi Arabia, Qatar, Jordan, Turkiye, Pakistan, Indonesia, Djibouti, Somalia, Palestine, Oman, Sudan, Yemen, Lebanon, and Mauritania denounced the move in a joint statement on Sunday.
The countries condemned "in the strongest terms the illegal and unacceptable step taken by the so-called 'Somaliland' region in opening a purported 'embassy' in occupied Jerusalem," according to the statement.
Newly opened embassy in Jerusalem, via X
The countries issued the statement one week after Israeli Presid
#macro
China Moves To Shut Down Offshore Stock-Trading Channels Used By Mainland Investors
Authored by Arthur Zhang via The Epoch Times,
China’s securities regulator has opened enforcement actions against Futu, Tiger Brokers, and Longbridge Securities, accusing the offshore online brokerages of illegally serving mainland investors who used the platforms to trade U.S. and Hong Kong stocks.
The China Securities Regulatory Commission (CSRC) said on May 22 that it had opened investigations and issued administrative penalty pre-notification letters against Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, Longbridge Securities (Hong Kong) Limited, and their related onshore and offshore entities.
The regulator said the firms conducted securities brokerage and margin-financing services in mainland China without approval and also “illegally” engaged in public-fund sales and futures brokerage activities.
The action was announced alongside a broader campaign by eight Chinese agencies to “comprehensively rectify” cross-border securities, futures, and fund operations.
#macro
BEAR
90/10
Google News Macroeconomics (EN)
|
2h ago
The treasury yield gap is narrowing as traders anticipate the Federal Reserve will maintain a "higher-for-longer" interest rate policy, influenced by figures like Warsh.
#macro
BEAR
90/10
📡+1
Google News Macroeconomics (EN)
|
4h ago
Inflation has soared at the fastest pace since 2023, potentially signaling trouble for stock market investors due to increased pressure for tighter monetary policy.
#macro