Daily Readings 01-27-2019

By: The Cynical Economist
Published: January 28th, 2019
IS BIG TECH MERGING WITH BIG BROTHER? KINDA LOOKS LIKE IT

A FRIEND OF mine, who runs a large television production company in the car-mad city of Los Angeles, recently noticed that his intern, an aspiring filmmaker from the People’s Republic of China, was walking to work.

WHEN HE OFFERED to arrange a swifter mode of transportation, she declined. When he asked why, she explained that she “needed the steps” on her Fitbit to sign in to her social media accounts. If she fell below the right number of steps, it would lower her health and fitness rating, which is part of her social rating, which is monitored by the government. A low social rating could prevent her from working or traveling abroad.

China’s social rating system, which was announced by the ruling Communist Party in 2014, will soon be a fact of life for many more Chinese.

By 2020, if the Party’s plan holds, every footstep, keystroke, like, dislike, social media contact, and posting tracked by the state will affect one’s social rating.

Soros Warns China Uses Algos to Find Threats to One-Party Rule

The former hedge fund manager said China is developing a centralized database that will use algorithms to determine whether a person poses a threat to the one-party system. While the so-called social credit system is not yet fully operational, “it will subordinate the fate of the individual to the interests of the one-party state in ways unprecedented in history,” Soros said.

DAVOS, Switzerland — They’ll never admit it in public, but many of your bosses want machines to replace you as soon as possible.

I know this because, for the past week, I’ve been mingling with corporate executives at the World Economic Forum’s annual meeting in Davos. And I’ve noticed that their answers to questions about automation depend very much on who is listening.

In public, many executives wring their hands over the negative consequences that artificial intelligence and automation could have for workers. They take part in panel discussions about building “human-centered A.I.” for the “Fourth Industrial Revolution” — Davos-speak for the corporate adoption of machine learning and other advanced technology — and talk about the need to provide a safety net for people who lose their jobs as a result of automation.

But in private settings, including meetings with the leaders of the many consulting and technology firms whose pop-up storefronts line the Davos Promenade, these executives tell a different story: They are racing to automate their own work forces to stay ahead of the competition, with little regard for the impact on workers.

Daily Readings 01-18-2019

By: The Cynical Economist
Published: January 18th, 2019

The richest 1% owns 50% of all stocks

The stock market made its way into mainstream news in 2018 when it hit record highs and then subsequently tumbled 19% in a matter of weeks.

Market volatility is unsettling to investors. But just who makes up the investor class?

According to Goldman Sachs, stock ownership is extremely concentrated because of the growing wealth gap in the U.S., and thus the market’s performance affects households making up the wealthiest 1% of Americans much more significantly than the other 99%.

“The wealthiest 0.1% and 1% of households now own about 17% and 50% of total household equities respectively, up significantly from 13% and 39% in the late 80s,” Daan Struyven, Goldman Sachs’s chief economist said in a note earlier this week.

 

Alexandria Ocasio-Cortez Is the Darling of the Left, Nightmare of the Right 

 

Generation Z may be most liberal demographic yet

A generation of post-millennials is poised to enter the electorate as perhaps the most liberal age cohort ever, fueled by unprecedented diversity and expansive views of the role of government.
On issues ranging from the treatment of racial minorities to climate change to diversity in society, the post-millennial generation — dubbed Generation Z by demographers — looks a lot more like the millennial generation than like their parents in Generation X or the baby boom generation, according to a new report from the Pew Research Center.

Daily Readings 11-03-2018

By: The Cynical Economist
Published: November 3rd, 2018

We are fucked!!!

Daily Readings 08-18-2018

By: The Cynical Economist
Published: August 18th, 2018

25 Highest Paying Jobs in America – 

MIT Computer Model Predicts Dramatic Drop In Quality Of Life To 2020, “End Of Civilization” By 2040 – 

An apocalyptic computer model, processed by one of the world’s largest computers in 1973, has predicted the end of civilization  by 2040.

The prediction came from a programme nicknamed World One, which was developed by a team of MIT researchers and processed by Australia’s largest computer.

It was originally devised by computer pioneer Jay Forrester, after he was tasked by the Club of Rome to develop a model of global sustainability.

However, the shocking result of the computer calculations showed that the level of pollution and population would cause a global collapse by 2040.

Exclusive: U.S. government seeks Facebook help to wiretap Messenger – sources – 

SAN FRANCISCO (Reuters) – The U.S. government is trying to force Facebook Inc (FB.O) to break the encryption in its popular Messenger app so law enforcement may listen to a suspect’s voice conversations in a criminal probe, three people briefed on the case said, resurrecting the issue of whether companies can be compelled to alter their products to enable surveillance.

Daily Readings 02-19-2018

By: The Cynical Economist
Published: February 19th, 2018

The playboy who got away with $242m – using ‘black magic’ – 

One day in August 1995 a man called Foutanga Babani Sissoko walked into the head office of the Dubai Islamic Bank and asked for a loan to buy a car. The manager agreed, and Sissoko invited him home for dinner. It was the prelude, writes the BBC’s Brigitte Scheffer, to one of the most audacious confidence tricks of all time.

Liberals write off $200M in student loans feds will never collect

The federal government is writing off more than $200 million in outstanding student loan payments that officials will never be able to collect.Recently released spending documents show the government won’t collect $203.5 million in debts from 34,240 students

Germany edges toward Chinese-style rating of citizens

China is experimenting with a dystopian “social credit system” which grades every citizen based on their behavior. The head of an expert panel argues that Germany is sleepwalking in the same direction.

How Russia turned the internet against America

Some who value the online world’s freedoms are ‘at a loss’ after Friday’s indictment offered new details about how trolls exploited its weaknesses.

Putin’s chef, a troll farm and Russia’s plot to hijack US democracy

The plot against America began in 2014. Thousands of miles away, in a drab office building in St Petersburg, Russia, a fake newsroom was under construction with its own graphics, data analysis, search engine optimisation, IT and finance departments. Its mission: ”information warfare against the United States of America”.

This Is What $1.25 Million Dollars a Month Bought the Russians

On Friday, the Department of Justice announced criminal charges against 13 Russians for interfering in the 2016 U.S. presidential election. Special counsel Robert Mueller accused the 13 — plus three Russian entities, including the infamous Internet Research Agency “troll farm” — of carrying out a wide-ranging disinformation campaign that involved stolen identities, fake social media accounts, and even a bizarre White House birthday subterfuge.

The operation, according to the indictment, was backed by Yevgeny Prigozhin, otherwise known as “the chef,” a Kremlin associate who once served caviar and truffles to former President George W. Bush — and dished out trouble to U.S. domestic politics. Prigozhin is accused of using his companies, including Concord Management and Consulting and Concord Catering, to fund the operation.

 

Recent Entries

Recent Comments

Social Network









the Cynical Economist at Blogged
Wikio - Top Blogs
Share Add to Technorati Favorites http://www.wikio.com TopOfBlogs