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In the below video, Peter Schiff is 100% correct that automation is a positive force for the global economy.  On a net basis, it improves productivity and profits – a fact that CANNOT be questioned…

Automation: Destroying Jobs or Creating Productivity?

Unfortunately, in world where the most valuable businesses long ago departed America…

Report: America Lost 2.7 Million Jobs to China in 10 Years

…leaving it in the hands of criminal banks

Financial Sector Back To Accounting for Nearly One-Third of U.S. Profits

…sanctioned by the government

FASB Eases Fair-Value Rules amid Lawmaker Pressure

…most increased productivity benefits FOREIGN corporations…

China vs. US: Manufacturing comparison

Each year, automation is increasing its share of global labor output…

Guest Post: The Siren Song of the Robot

…creating benefits in some sectors; but undoubtedly, reducing jobs in others…

What If Technology Is Destroying Jobs Faster Than It Creates Them?

Unfortunately, America’s recent lack of capital investment has left it with a hollowed out economy; with most new jobs in sectors being reduced by technology…

…in many cases, as simple as internet retailing…

J.C.Penney, Sears, Best Buy top retail store closings in 2013

In the big picture, automation is far from the only reason American jobs are being lost; as clearly, debt, inflation, and outsourcing have contributed as well…


Moreover, the recession that commenced five years ago shows no signs of abating – outside a handful of fudged government reports; and thus, the odds of the Fed’s targeted 6.5% “unemployment rate” being reached before HYPERINFLATION commences are slim to none

Fed doesn’t see jobless rate below 6.5% until 2015

…with a best-case scenario of recovery without the jobs required to “end QE”; something the NITWITS at the Fed failed to even consider

The Jobless Recovery – Martin Armstrong


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