That is the last few years news.
If you mean I wrote those in roughly 2010, then correct. If you mean they are not still applicable, then I disagree.
A recent Oxford study predicts 47% of all existing jobs will be replaced by automation by 2033.
The socialism is rising globally simultaneously the number of technologically unemployed is increasing.
What will happen is the old world economy will confiscate most of the capital, thus destroying by redistributing it to the technologically unemployed, i.e. peak socialism. Yet this redistribution will never work out, because vested interests will steal it (e.g. see the QE now) and top-down is always dumb, e.g. ObamaCare requires men to have paternity insurance (which is only at its infancy and if we reach the Hitler stage the socialism will be culling itself due to lack of resources).
So the old forms of capital are dead-men standing. The millionaires will be wiped out.
Perhaps only those who can find a way to move their capital into knowledge and the new virtual knowledge economy will possibly cross the chasm ahead.
However, I won't say this is all absolute, there will probably be leakage and there might be many clever, diverse ways that humans cope, survive, and even excel.
I include Bitcoin in the old forms of capital because it did not address anonymity, currency distribution, and secure mining. Most readers think it did, because they haven't studied it deeply enough.
P.S. I am not affiliated with CoinCube in any way.
Edit: Martin Armstrong often quotes Herbert Hoover about international currency movement at that time of the early 1900s into the Great Depression.
"During this new stage of the depression, the refugee gold and the foreign government reserve deposits were constantly driven by fear hither and yon over the world.
We were to see currencies demoralized and governments embarrassed as fear drove the gold from one country to another.
In fact, there was a mass of gold and shortterm credit which behaved like a loose cannon on the deck of the world in tempest-tossed era."
Herbert Hoover Memoirs, 1952 Greatest Bull Market In History, p354
Capital today is running hither searching for a safe haven and not finding one. Armstrong often says it was like re-arranging the deck chairs on the Titanic.
At that time, it was the technological unemployment due to the
Second Industrial Revolution that kicked in with factories that accelerated the demise of the cottage industries in Europe, which thus caused capital from Europe to run around seeking a safe haven. It mostly ended up in the USA.
http://armstrongeconomics.com/2013/12/01/gold-hedge-against-making-money/The USA was bankrupt in 1896 when JP Morgan lent it gold. After World War I and II, the USA had 76% of the total world gold reserves and that is what the dollar became the reserve currency. It was WAR and capital flows that made the dollar what it is. Europe became too socialistic after the wars and thus remained second-rate.
I do agree with what you said .
Just now a bank confirmed that they will be closing off their branches because at the end of the day most of the work have been done online and they are earning huge amount of profits.
The government won't be able to provide employment at all .
A person who is doing odd jobs does have an engineering degree , that is the truth of the society.
Soon enough everything will be replaced by fancy robots doing stuff which people were paid to do , this has happened in the past and it will happen in the future too.
Economy is soon going down , only the rich people will survive , this is unfortunate but it is the reality.
