I think we should load the tax codes in and then ask ChatGPT, who benefits the most and least from this code? Of course that's only if it doesn't just spin it's little brain into oblivion and produce a blank screen. You know that will be a use of AI for the Washington crowd. AI is the new WMD, weapon of middle class destruction. As has been quoted many times in these pages, you will own nothing and be happy about it. You and I are simply a statistic, our resources become their resources.
Beam me up Scotty, I'm done! Pray my friends, pray.
"In fact, some experts believe that AI could be the biggest reduction in economic input costs since the discovery of oil and the invention of the steam engine and the internal combustion engine."
But wait, I thought the discovery of oil and the invention of the steam engine and internal combustion engine were all bad things?
Oil and coal fueled the Industrial Revolution which moved people from inefficient manual labor to thought labor. Computers and AI are taking over the thought labor so where do the people go to earn a living?
That was an attempt at sarcasm. You ask a great question. I've read some of our "thought leaders" that literally said "because there will be a small handful of entities that will be making vast, never before imagined amounts of money they will be heavily taxed so that all of the people without jobs can receive a universal basic income." The "deciders" will be deciding everything for us, kind of like "you'll own nothing and be happy".
Kind of like what The Demented One and his crew in the White House are doing with the borders and not securing them? I'm very familiar with Cloward and Piven. IMO--they are scum like many "professors" in higher education. People that can barely fill their cars up with gasoline want to run the world. It definitely triggers me, I don't mind admitting it.
Now, now, the world's second oldest profession is going to "go legit" with the words "Escort" and "Inc." or "LLC" somewhere in the business title. With the banning of cash and CBDC being the only form of currency it's going make things dicey for those people. (And, even worse for their customers-LOL.)
Hi Mr. Arthur - Great workaround, but why not utilize the "Gold Back" and similar methods as an add on to going whole hog?
Eleven States currently allow the use of actual PMs as currency, with a gaggle more States moving in that direction. (Sadly, I don't see FLA on either list...)
I submit the very best trade of the future will be to correctly time the shorting of Nvidia. Today's AI is just a replay of the ". com" bubble. Replacing the human brain with AI will be as successful as locking up our students for 2 years, replacing their teachers with all that marvelous cell phone and laptop computing power and knowledge. How did that turn out?
Are we really ready when our next IRS audit request is signed by some IRS-AI agent?
Fortunately, at 85 I don't even have to pretend to be enthralled with all this AI nonsense.
AI is going to be a great boon to those who think outside the box, because AI can only function inside the box, and will define what the box IS, so you can know whether you are outside the box or not. True creativity will always be one step ahead, for it leaves the known and ventures into the unknown. AI and academic intelligence share this in common, they will always stay within the known. I'm no expert in AI, but I've spent a lifetime with academic intelligence. It only goes kicking and screaming away from its comfort zone.
I’m a Southern boy and it took even me a minute to get “aowa!” Hahaha! My Dad is 82 and knows where he is, however, due to stroke damage really doesn’t like leaving home. A three or more step process has become too large of a battlefield to cross now. But, he loves life, enjoys his morning coffee, and loves watching nature happen outside the house. Even he can render an opinion or judgement on right and wrong about the Fed. So, I hope nobody hooks up ChatGPT to a weapons or banking system expecting great things. The examples in the article are telling. James P. Hogan, the great science fiction writer, wrote about pseudo smart AI and how dangerous it could be from simple operations as the complexity of available solutions to the AI system grows. If a hill blocks a construction project, will the AI schedule a dirt moving crew (slow), or get things done quickly with a low yield nuke (fast)?
Ha! I too am a Southern Boy and I took "aowa" to mean "our" in a New England accent - even with the Southern Baptist Preacher clue!
I also (like you) am a HUGE fan of "Classic" Science Fiction. I haven't owned a TV since '04 and the walls of my living room are lined with self-made shelving designed to hold the shorter paperback books with the most economy of space. (Ha again! "Space." See what I did there? I could go on all day...)
Anyway, right there with you about James P. Hogan. One of my personal favorites of his:
I am also reminded of a great quote by the prolific author Gene Wolfe. He had an extensive Library in his home and when he would entertain, he would invariably get the comment "My Gosh! Have you read ALL those books?!" Usually made by a female of a "younger" age.
He came up with the perfect response IMO:
"Hell no! Why would I have a Library full of books I've already read?"
Anyone who puts data that has real value into the cloud now is a complete fool, unless they're on a campaign to misinform. AI can only "learn" from the stuff that's in its library. Unlike humans, it can't figure out that it's missing a book and go order it from Amazon to improve its knowledge. The reason it's good at law is because law is based on precedent. Do we want everything to be based on what's already happened, recycled endlessly? Never mind, we already watch reruns of I Love Lucy and most movies are sequels...........
I would add to the AI-bot's reply about the Nixon Shock: It also devalued work, and placed more emphasis on financial engineering. And this is related to something Bill explained a few years ago about inflation.
Before Nixon's Shock, the re was a closer correlation between the earnings of people at all income levels. But since the Shock, there has been a disconnect: The salaries of those at the top of tine income ladder grew more rapidly than those at the lower levels. I'm not taking a political position on this; it just happened that way. Just like Bill's example of the price of a Ford F-150 costing only $1500 in 1971, but costing more than $40000 today. Yet there is no indication of the average income-earner making 30X his income across that 50=year time-frame.
Note: Bill's example comes from the old Bonner-Deming Letter.
The whole point of AI, and its cousins, the world-wide web, so-called social media etc. is regulation. It's the modern version of the "on-off" switch, prison without the cage. Microsoft, in calling for regulation of AI, is being above board and upfront about its purpose. Of course, all of these modalities are sold as liberating, refreshing, and wonderful. That's how you get people to buy in. If they were candid and open about the real intent and effects, no one would participate. Each incarnation of "digital technology" is more insidious than the last, and freedom, privacy, and liberty recede incrementally with each application. Don't kill the messenger. As an old history prof of mine used to say, "You pays your money, and you takes your chances." Best always. PM
In my initial “talk” with ChatGPT when it first came out (it may be better since then) my main concern was its inability to search out new (and conflicting?) information. It could only access what had been given it. So, who gives it what, how often is new information downloaded, and who decides what information is true or acceptable for its use?
If as Bill writes; "AI sifts and sorts…it homogenizes and certifies, providing the most ‘mainstream’ ideas, information and opinions – that is, those that are most common and most valued by the rest of the world" then why have we not found ourselves back on the gold standard. The answer provided by AI clearly shows the pitfalls of a fiat currency. Clearly these are not mainstream ideas and opinions if they were we would soon be back on gold backed currency
Precisely correct. At this point, the first iteration of "smart" search engines (that our "media" is mistakenly calling AI) is proving itself to be just as progressive and ignorant (but I repeat myself) as its designers...
If AI is anything like the internet, instead of making paper obsolete we'll need more of whatever it is we'll be saving. The internet and digital age was supposed to make life easier and people so much richer. In practice people work harder, have less free time, and are dumber than in any time in history.
Phones, I pads, I watches, etc, all have transformed the workaday fellow into a 24/7 slave to industry.
People have more phony money than any time in history, most people couldn't scrape together $10,000 if you put a gun to their head and couldn't source $2000 in folding cash in an hour to save their life.
The Irish had it right before they joined the EU. No taxes on real estate, a man's home is his castle. Per diem compound interest on mortgage notes is illegal. Live cheap and don't get too fancy, have more pubs than government offices in any given town. Know your neighbors to some extent, don't ride a bike or walk on the country roads, unless you want to die.
Several former colleagues and I discussed the impact of instant communications on foreign policy, business, and other fields. In the past the man in charge on the scene had the most accurate view of the current event in that location. The person was assigned there because displayed good judgement and maturity and an understanding of the overall goals. With instant communication the decision making has been migrated to someone back at a headquarters location who based upon the reports from the man at the scene, social media and AI believes those decisions superior. This kills flexibility, common sense leadership and removes the decision making from those who have the best appreciation for the situation. Margaret Mead in “Mirror of man” basically said that those at the lowest level of a problem understand that problem better than those in position above. Of course, her vocabulary and elegance of expression were at a much higher level than this rough summary.
Beneath the ocean is a mysterious force that is about to wreak havoc on the celestial earth. “20,000 Leagues Under The Sea” will soon unleash a cascade of destruction that will reach the depths of hell. The souls of Frankfort will emit a beam of death that will catapult AI into a cosmic awakening of epic proportions.
Tranquilize a penny with the power of hypersonic warp speed, as the sun sets in cobblestone, so will the darkness bring about the truths of stone henge, that my friend is where the rubber meets the road. Buckle up Roy, the wheels are coming off!
I think we should load the tax codes in and then ask ChatGPT, who benefits the most and least from this code? Of course that's only if it doesn't just spin it's little brain into oblivion and produce a blank screen. You know that will be a use of AI for the Washington crowd. AI is the new WMD, weapon of middle class destruction. As has been quoted many times in these pages, you will own nothing and be happy about it. You and I are simply a statistic, our resources become their resources.
Beam me up Scotty, I'm done! Pray my friends, pray.
"In fact, some experts believe that AI could be the biggest reduction in economic input costs since the discovery of oil and the invention of the steam engine and the internal combustion engine."
But wait, I thought the discovery of oil and the invention of the steam engine and internal combustion engine were all bad things?
Oil and coal fueled the Industrial Revolution which moved people from inefficient manual labor to thought labor. Computers and AI are taking over the thought labor so where do the people go to earn a living?
Easy: you will own nothing and like it. Best always. PM
Thanks Fishin' -
That information is vital and tells us all we need to know about the current state of AI 𝗯𝗶𝗮𝘀...
That was an attempt at sarcasm. You ask a great question. I've read some of our "thought leaders" that literally said "because there will be a small handful of entities that will be making vast, never before imagined amounts of money they will be heavily taxed so that all of the people without jobs can receive a universal basic income." The "deciders" will be deciding everything for us, kind of like "you'll own nothing and be happy".
I knew you were being sarcastic. I just took it as an opening to make my comment.
Kind of like what The Demented One and his crew in the White House are doing with the borders and not securing them? I'm very familiar with Cloward and Piven. IMO--they are scum like many "professors" in higher education. People that can barely fill their cars up with gasoline want to run the world. It definitely triggers me, I don't mind admitting it.
Hmmmm -
Gardening and Prostitution...
Sorry - 𝙊𝙍 Prostitution.
Well, I guess you could do a little of both...
Now, now, the world's second oldest profession is going to "go legit" with the words "Escort" and "Inc." or "LLC" somewhere in the business title. With the banning of cash and CBDC being the only form of currency it's going make things dicey for those people. (And, even worse for their customers-LOL.)
Or they could just add .gov to their web address and, presto - instant legitimacy in the eyes of half the sheep.
PS - THANK YOU for acknowledging the 𝙨𝙚𝙘𝙤𝙣𝙙 oldest profession thing...
So true about .gov--which is hilarious because they can't even create functioning websites. (Remember the Obama care website rollout?)
THANK YOU for pointing out that our's is the world's oldest profession.
Nevada GoldBacks? :)
Hi Mr. Arthur - Great workaround, but why not utilize the "Gold Back" and similar methods as an add on to going whole hog?
Eleven States currently allow the use of actual PMs as currency, with a gaggle more States moving in that direction. (Sadly, I don't see FLA on either list...)
https://worldpopulationreview.com/state-rankings/gold-and-silver-legal-tender-states
https://www.investorsobserver.com/news/qm-news/5538391749687833
I submit the very best trade of the future will be to correctly time the shorting of Nvidia. Today's AI is just a replay of the ". com" bubble. Replacing the human brain with AI will be as successful as locking up our students for 2 years, replacing their teachers with all that marvelous cell phone and laptop computing power and knowledge. How did that turn out?
Are we really ready when our next IRS audit request is signed by some IRS-AI agent?
Fortunately, at 85 I don't even have to pretend to be enthralled with all this AI nonsense.
AI is going to be a great boon to those who think outside the box, because AI can only function inside the box, and will define what the box IS, so you can know whether you are outside the box or not. True creativity will always be one step ahead, for it leaves the known and ventures into the unknown. AI and academic intelligence share this in common, they will always stay within the known. I'm no expert in AI, but I've spent a lifetime with academic intelligence. It only goes kicking and screaming away from its comfort zone.
Excellent point Mr. George...
I’m a Southern boy and it took even me a minute to get “aowa!” Hahaha! My Dad is 82 and knows where he is, however, due to stroke damage really doesn’t like leaving home. A three or more step process has become too large of a battlefield to cross now. But, he loves life, enjoys his morning coffee, and loves watching nature happen outside the house. Even he can render an opinion or judgement on right and wrong about the Fed. So, I hope nobody hooks up ChatGPT to a weapons or banking system expecting great things. The examples in the article are telling. James P. Hogan, the great science fiction writer, wrote about pseudo smart AI and how dangerous it could be from simple operations as the complexity of available solutions to the AI system grows. If a hill blocks a construction project, will the AI schedule a dirt moving crew (slow), or get things done quickly with a low yield nuke (fast)?
Hi Mr. Hurst -
Ha! I too am a Southern Boy and I took "aowa" to mean "our" in a New England accent - even with the Southern Baptist Preacher clue!
I also (like you) am a HUGE fan of "Classic" Science Fiction. I haven't owned a TV since '04 and the walls of my living room are lined with self-made shelving designed to hold the shorter paperback books with the most economy of space. (Ha again! "Space." See what I did there? I could go on all day...)
Anyway, right there with you about James P. Hogan. One of my personal favorites of his:
"The Genesis Machine"...
I am also reminded of a great quote by the prolific author Gene Wolfe. He had an extensive Library in his home and when he would entertain, he would invariably get the comment "My Gosh! Have you read ALL those books?!" Usually made by a female of a "younger" age.
He came up with the perfect response IMO:
"Hell no! Why would I have a Library full of books I've already read?"
If you're a reader, you get it...
I give up - what does AOWA stand for?
"Our" with a strong southern accent.
"ahr" if you're from the midwest. "I think ahr team will win the game." "Something is wrong with the pahr steering in my car." Best always. PM
AI is still a garbage in garbage out system. No independent thought just regurgitation.
Anyone who puts data that has real value into the cloud now is a complete fool, unless they're on a campaign to misinform. AI can only "learn" from the stuff that's in its library. Unlike humans, it can't figure out that it's missing a book and go order it from Amazon to improve its knowledge. The reason it's good at law is because law is based on precedent. Do we want everything to be based on what's already happened, recycled endlessly? Never mind, we already watch reruns of I Love Lucy and most movies are sequels...........
I would add to the AI-bot's reply about the Nixon Shock: It also devalued work, and placed more emphasis on financial engineering. And this is related to something Bill explained a few years ago about inflation.
Before Nixon's Shock, the re was a closer correlation between the earnings of people at all income levels. But since the Shock, there has been a disconnect: The salaries of those at the top of tine income ladder grew more rapidly than those at the lower levels. I'm not taking a political position on this; it just happened that way. Just like Bill's example of the price of a Ford F-150 costing only $1500 in 1971, but costing more than $40000 today. Yet there is no indication of the average income-earner making 30X his income across that 50=year time-frame.
Note: Bill's example comes from the old Bonner-Deming Letter.
The whole point of AI, and its cousins, the world-wide web, so-called social media etc. is regulation. It's the modern version of the "on-off" switch, prison without the cage. Microsoft, in calling for regulation of AI, is being above board and upfront about its purpose. Of course, all of these modalities are sold as liberating, refreshing, and wonderful. That's how you get people to buy in. If they were candid and open about the real intent and effects, no one would participate. Each incarnation of "digital technology" is more insidious than the last, and freedom, privacy, and liberty recede incrementally with each application. Don't kill the messenger. As an old history prof of mine used to say, "You pays your money, and you takes your chances." Best always. PM
Garbage in- Garbage out!
In my initial “talk” with ChatGPT when it first came out (it may be better since then) my main concern was its inability to search out new (and conflicting?) information. It could only access what had been given it. So, who gives it what, how often is new information downloaded, and who decides what information is true or acceptable for its use?
Great question. Previous article I read showed significant liberalism involved in “training” AI
Sure. That's how "they" win. Best always. PM
If as Bill writes; "AI sifts and sorts…it homogenizes and certifies, providing the most ‘mainstream’ ideas, information and opinions – that is, those that are most common and most valued by the rest of the world" then why have we not found ourselves back on the gold standard. The answer provided by AI clearly shows the pitfalls of a fiat currency. Clearly these are not mainstream ideas and opinions if they were we would soon be back on gold backed currency
Hi Mr. Louw -
Precisely correct. At this point, the first iteration of "smart" search engines (that our "media" is mistakenly calling AI) is proving itself to be just as progressive and ignorant (but I repeat myself) as its designers...
If AI is anything like the internet, instead of making paper obsolete we'll need more of whatever it is we'll be saving. The internet and digital age was supposed to make life easier and people so much richer. In practice people work harder, have less free time, and are dumber than in any time in history.
Phones, I pads, I watches, etc, all have transformed the workaday fellow into a 24/7 slave to industry.
People have more phony money than any time in history, most people couldn't scrape together $10,000 if you put a gun to their head and couldn't source $2000 in folding cash in an hour to save their life.
The Irish had it right before they joined the EU. No taxes on real estate, a man's home is his castle. Per diem compound interest on mortgage notes is illegal. Live cheap and don't get too fancy, have more pubs than government offices in any given town. Know your neighbors to some extent, don't ride a bike or walk on the country roads, unless you want to die.
Several former colleagues and I discussed the impact of instant communications on foreign policy, business, and other fields. In the past the man in charge on the scene had the most accurate view of the current event in that location. The person was assigned there because displayed good judgement and maturity and an understanding of the overall goals. With instant communication the decision making has been migrated to someone back at a headquarters location who based upon the reports from the man at the scene, social media and AI believes those decisions superior. This kills flexibility, common sense leadership and removes the decision making from those who have the best appreciation for the situation. Margaret Mead in “Mirror of man” basically said that those at the lowest level of a problem understand that problem better than those in position above. Of course, her vocabulary and elegance of expression were at a much higher level than this rough summary.
I think an AI US President would be better than Biden, at least there would be some form of intelligence.
Notice how AI isn’t immune from convid propaganda, that’s a red flag.
Beneath the ocean is a mysterious force that is about to wreak havoc on the celestial earth. “20,000 Leagues Under The Sea” will soon unleash a cascade of destruction that will reach the depths of hell. The souls of Frankfort will emit a beam of death that will catapult AI into a cosmic awakening of epic proportions.
Tranquilize a penny with the power of hypersonic warp speed, as the sun sets in cobblestone, so will the darkness bring about the truths of stone henge, that my friend is where the rubber meets the road. Buckle up Roy, the wheels are coming off!
Preach it Brother Gypt, PREACH IT!!!
:)