Software, being virtual and not physical, does not experience entropy. Once an algorithm is working, as long as there is hardware to implement it, it will not change over time. If that hardware is capable of reproducing by creating its own successor generation of hardware with the same algorithm, then the problem of entropy is, for all practical purposes, solved. To use an analogy, look at the Empire State Building. It's stood for almost a century, despite the fact that entropy exists. Now, imagine a robot capable of greater than human cognition with the same staying power. I don't know if that's "the singularity" but it certainly is a big difference from what has existed hitherto.
My contention is that the housing bubble led to workers being paid more than they otherwise would have been paid. To the extent that Greenspan's policies abetted the housing bubble, he also was responsible for workers' "overpayment". Like I said, as a renter during the entire housing bubble, I made out pretty well. My income rose and my rent basically stayed pretty flat the whole time because there were more rental units than renters. So, I've got no complaints. In fact, thank you, all you "home buyers" for driving the bubble in homes and wages.
:eek: We, the Human Race, would be in serious trouble if robots began to reproduce on their own..... I'm not just talking mass unemployment.
Eh, I'm not worried. Many people who know me well have said I'm "robotic". Emotion-wise, I make Romney look like Oprah. I'm sure the robots would have no problem with me. They'd embrace me as one of their own. It's the rest of you who should worry.
These new private definitions of bubbles and theories about the housing crash aren't exactly economic ideas so much, are they? More of an exercise in imagining a reality where your superiority will be finally realized. You might find <a href="http://www.amazon.com/dp/0300188374">The Master and His Emissary</a> kind of interesting. That said, there are some risks in developing that kind of thing as a mental habit.
My "superiority" is recognized in the market and on my P&L. That's sufficient for me. I never cared much for people and their "opinions". Pretty much bored me to tears. Just about the only reason I'd be interested in your opinion is if you have a hot daughter I could screw by pretending to be interested in what you have to say. Otherwise, keep your opinion to yourself.
And when the Fed's hit you with Financial Transaction Taxes you can find a new way to turn a buck. The whole, just go find another job argument isn't such a good idea when someone goes in your pocket, now is it?
CORRECTAMUNDO! Unions are bullies and little more than legalized extortion. When the country/economy has a huge surplus of labor, union labor should not be holding a business hostage for premium wages.
What u conveniently forgot to include was, "There was an 8 percent decrease in the pay but it was going to come back into their paychecks over the next five years," Farmer said. "So, it wasn't going to completely go away." You think they actually gonna believe that??? After getting wacked once already for a 29% cut (48k to 34k). Then prob waiting the max five years to get back the reduced wage? Hostess hasn't innovated in years, really doubt they would have changed it around in next 5 years.