On my more optimistic days i see this too though I wonder about the 20 year time frame, it might be more like 50. In the meantime how do we survive long enough to get there. Does anyone see a scenario where rates don't skyrocket?
When the Treasury cannot sell bonds the Federal Reserve will buy the bonds with printed money. The politically correct term is quantative easing. The figure of $239 billion of US debt held by the UK, is not the UK government, but hedge funds and sovereign wealth funds who put the trade on through banks in London.
I think that we will have primitive AI in 20. I would guess the military has had it for some time considering that the unmanned predictor drones have been out in the open for some time. Military technology used in the open is usually 30 years old. I agree though it will be 50 years or so before all of this becomes the new dominate drivers. John
And the correct spelling is: quantitative easing - http://en.wikipedia.org/wiki/Quantitative_easing Geez! Maybe I need something stronger than Merlot! (...and something else to do on a Saturday night?) ((give me a break >>> it's -3 degrees here))
Predator drones are unmanned but there is still a human pilot remotely controlling it, don't see any AI technology there.
It starts with remote controlled versions. The goal would be to develop unmanned, non remotely piloted versions. Since open stuff is 30 years old and since I would guess in 30 years the private sector would develop it, then they should have it by now. John
The money has always been in agriculture, regardless of innovation. (Sarcasm trying to expose the stupidity of the answer)