Anonymous wrote:Well, I didn't have this on my bingo card...but I suppose grifters gonna grift.

Governments are likely to pillage the $80 trillion ‘Great Wealth Transfer’ to fund their national debt, says UBS

"If you’re eyeing the $80 trillion promise of the Great Wealth Transfer and wondering what it may do for your personal finances, you’re not the only one. Governments are asking themselves the same, according to UBS.

The eye-watering sums due to change hands via inheritance in the coming decades, will change the financial fortunes of millions of people. But it could also help rectify the fiscal trajectories of some of the world’s most advanced nations. Those funds, UBS says, could be used to balance the books for countries with high levels of unsustainable national debt.

Studies have found that over the next 20 to 30 years as much as $124 trillion will be passed down from older generations to their younger counterparts. The baby boomers—people born between 1946 and 1964—are the wealthiest generation in history. As these individuals begin passing on, sums will go immediately to their Gen X, millennial, and Gen Z successors, and some cash will go to spouses.

But UBS chief economist Paul Donovan believes governments will want to add their names to the list of recipients. He said: “At UBS, our modeling suggests that over the next 20 years, over $80 trillion of wealth will change hands.

“The change in wealth comes at a time when many governments around the world have high debt and deficits. It seems unrealistic to suppose that governments will just sit idly by as this wealth moves around. We would expect governments to attempt to mobilize that wealth to help fund their debt, but in doing so that denies private sector investment access to some of those funds.”"


...it goes on to say that women will inherit and that they are self-sufficient without it, so they shall taketh...

https://apple.news/ANiJtGzf6REqq3WlQQBVYzg

Makes one wonder if they will create a new witch trial to go after widows, again.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:AMAZON TARGETS AS MANY AS 30,000 JOB CUTS - SOURCES AMAZON JOB CUTS TO BEGIN TUESDAY -SOURCES

This is because of AI, which isn’t going to be stopped by any of the paid off politicians in both parties. Amazon announced that robots will replace 600,000 workers by 2030.

It is not AI. The reports all say it is “to pare expenses and compensate for overhiring during the peak demand of the pandemic.” This is corporate speak for dropping demand.

Come again? You sure about that?

https://finance.yahoo.com/news/amazon-lay-off-14-000-093006981.html

Amazon to cut about 14,000 corporate jobs in AI push

(Reuters) - Amazon said on Tuesday it will reduce its global corporate workforce by about 14,000 people, with more cuts expected next year, in a major shakeup driven in part by adoption of artificial intelligence at the tech giant.

The PP is correct, AI is spin for our fundamentals are trash.

A friend was just laid off from Amazon. He was fairly high up and his was a job that is not replaceable by AI.

Because AI is just a smokescreen. Jobs are being offshored, not replaced by AI

and yet, that area will still vote for Trump and the GOP.

Anonymous wrote:

We’re an UMC family of four. My blue collar roots help me keep our grocery spending $1100 a month. But the prices are definitely on the rise.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:AMAZON TARGETS AS MANY AS 30,000 JOB CUTS - SOURCES AMAZON JOB CUTS TO BEGIN TUESDAY -SOURCES

This is because of AI, which isn’t going to be stopped by any of the paid off politicians in both parties. Amazon announced that robots will replace 600,000 workers by 2030.

It is not AI. The reports all say it is “to pare expenses and compensate for overhiring during the peak demand of the pandemic.” This is corporate speak for dropping demand.

Come again? You sure about that?

https://finance.yahoo.com/news/amazon-lay-off-14-000-093006981.html

Amazon to cut about 14,000 corporate jobs in AI push

(Reuters) - Amazon said on Tuesday it will reduce its global corporate workforce by about 14,000 people, with more cuts expected next year, in a major shakeup driven in part by adoption of artificial intelligence at the tech giant.

The PP is correct, AI is spin for our fundamentals are trash.

A friend was just laid off from Amazon. He was fairly high up and his was a job that is not replaceable by AI.

Well, I didn't have this on my bingo card...but I suppose grifters gonna grift.

Governments are likely to pillage the $80 trillion ‘Great Wealth Transfer’ to fund their national debt, says UBS

"If you’re eyeing the $80 trillion promise of the Great Wealth Transfer and wondering what it may do for your personal finances, you’re not the only one. Governments are asking themselves the same, according to UBS.

The eye-watering sums due to change hands via inheritance in the coming decades, will change the financial fortunes of millions of people. But it could also help rectify the fiscal trajectories of some of the world’s most advanced nations. Those funds, UBS says, could be used to balance the books for countries with high levels of unsustainable national debt.

Studies have found that over the next 20 to 30 years as much as $124 trillion will be passed down from older generations to their younger counterparts. The baby boomers—people born between 1946 and 1964—are the wealthiest generation in history. As these individuals begin passing on, sums will go immediately to their Gen X, millennial, and Gen Z successors, and some cash will go to spouses.

But UBS chief economist Paul Donovan believes governments will want to add their names to the list of recipients. He said: “At UBS, our modeling suggests that over the next 20 years, over $80 trillion of wealth will change hands.

“The change in wealth comes at a time when many governments around the world have high debt and deficits. It seems unrealistic to suppose that governments will just sit idly by as this wealth moves around. We would expect governments to attempt to mobilize that wealth to help fund their debt, but in doing so that denies private sector investment access to some of those funds.”"


...it goes on to say that women will inherit and that they are self-sufficient without it, so they shall taketh...

https://apple.news/ANiJtGzf6REqq3WlQQBVYzg

The US is seeing the largest number of layoffs since 2020, with nearly 1 million people losing their jobs so far this year.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:AMAZON TARGETS AS MANY AS 30,000 JOB CUTS - SOURCES AMAZON JOB CUTS TO BEGIN TUESDAY -SOURCES

This is because of AI, which isn’t going to be stopped by any of the paid off politicians in both parties. Amazon announced that robots will replace 600,000 workers by 2030.

It is not AI. The reports all say it is “to pare expenses and compensate for overhiring during the peak demand of the pandemic.” This is corporate speak for dropping demand.

Come again? You sure about that?

https://finance.yahoo.com/news/amazon-lay-off-14-000-093006981.html

Amazon to cut about 14,000 corporate jobs in AI push

(Reuters) - Amazon said on Tuesday it will reduce its global corporate workforce by about 14,000 people, with more cuts expected next year, in a major shakeup driven in part by adoption of artificial intelligence at the tech giant.

The PP is correct, AI is spin for our fundamentals are trash.

Do you think they were lying on their quarterly earnings statement when they posted a 13% gain in earnings YOY and earned $167 billion?

What are you basing your statement on?

Amazon hasn't announced third quarter results yet. You are citing their second quarter that ended three months ago.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:AMAZON TARGETS AS MANY AS 30,000 JOB CUTS - SOURCES AMAZON JOB CUTS TO BEGIN TUESDAY -SOURCES

This is because of AI, which isn’t going to be stopped by any of the paid off politicians in both parties. Amazon announced that robots will replace 600,000 workers by 2030.

It is not AI. The reports all say it is “to pare expenses and compensate for overhiring during the peak demand of the pandemic.” This is corporate speak for dropping demand.

Come again? You sure about that?

https://finance.yahoo.com/news/amazon-lay-off-14-000-093006981.html

Amazon to cut about 14,000 corporate jobs in AI push

(Reuters) - Amazon said on Tuesday it will reduce its global corporate workforce by about 14,000 people, with more cuts expected next year, in a major shakeup driven in part by adoption of artificial intelligence at the tech giant.

The PP is correct, AI is spin for our fundamentals are trash.

Do you think they were lying on their quarterly earnings statement when they posted a 13% gain in earnings YOY and earned $167 billion?

What are you basing your statement on?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:AMAZON TARGETS AS MANY AS 30,000 JOB CUTS - SOURCES AMAZON JOB CUTS TO BEGIN TUESDAY -SOURCES

This is because of AI, which isn’t going to be stopped by any of the paid off politicians in both parties. Amazon announced that robots will replace 600,000 workers by 2030.

It is not AI. The reports all say it is “to pare expenses and compensate for overhiring during the peak demand of the pandemic.” This is corporate speak for dropping demand.

Come again? You sure about that?

https://finance.yahoo.com/news/amazon-lay-off-14-000-093006981.html

Amazon to cut about 14,000 corporate jobs in AI push

(Reuters) - Amazon said on Tuesday it will reduce its global corporate workforce by about 14,000 people, with more cuts expected next year, in a major shakeup driven in part by adoption of artificial intelligence at the tech giant.

The PP is correct, AI is spin for our fundamentals are trash.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:AMAZON TARGETS AS MANY AS 30,000 JOB CUTS - SOURCES AMAZON JOB CUTS TO BEGIN TUESDAY -SOURCES

This is because of AI, which isn’t going to be stopped by any of the paid off politicians in both parties. Amazon announced that robots will replace 600,000 workers by 2030.

Yes, but AI is how they announce layoffs with positive spin. Reality no one is buying the crap, and tariffs are depressing sales. They need to unload employees even though the automation is a pipe dream.

Amazon’s stock is up at least 5-6% and reports earnings this week. How about we come back later this week when they blow out quarterly earnings and you can admit you’re wrong.

Will do. AI bubble inflates. UPS and Amazon demoralizing their workforce in November means consumers aren't buying and aren't going to buy anytime soon.

I really don't get the folks bleating about the stock market AI bubble as a measure of success when jobs are in the toilet and it is only going to get worse with AI.

Fewer people can even invest in stocks or 401k plans when they don't have jobs or the job pay is crap.

DP to add, case in point:
https://www.nytimes.com/2025/10/21/technology/inside-amazons-plans-to-replace-workers-with-robots.html?unlocked_article_code=1.w08.1Sua.itraldCA5GRi&smid=url-share

Amazon Plans to Replace More Than Half a Million Jobs With Robots

"Amazon’s U.S. work force has more than tripled since 2018 to almost 1.2 million. But Amazon’s automation team expects the company can avoid hiring more than 160,000 people in the United States it would otherwise need by 2027. That would save about 30 cents on each item that Amazon picks, packs and delivers to customers.

Executives told Amazon’s board last year that they hoped robotic automation would allow the company to continue to avoid adding to its U.S. work force in the coming years, even though they expect to sell twice as many products by 2033. That would translate to more than 600,000 people whom Amazon didn’t need to hire."

I’d like someone on the Democrat side to please explain how this and all the other AI related job cuts means that we need more immigration? You can either think AI is going to take a lot of jobs or you can believe that we need a lot more immigrants to fill vacant positions. It is a nonsensical ideology to argue both positions at the same time.

-Did not vote for Trump and agree with Bernie that illegal immigration is a libertarian / Koch Brothers scam.

Why do you think all of these college educated white collar workers are going to move to the midwest to work the files or in slaughter houses?

Amazon is going to cut 600,000 warehouse jobs and replace everyone with robots by 2030. You don’t think slaughterhouses can use robots?!

All of these displaced workers are going to need to learn construction and other trades or they are going to be collecting welfare. Just look at all the college graduate CS majors who are working retail and service jobs because they can’t find work. These white collar people who are riffed are not going to find white collar jobs. It is going to get real dark, real quick.

The last thing we need is more people coming here to collect UBI in 5-10 years.

GOP has been cutting education, so unless you expect these 30-50 year old white collar workers to become unpaid apprentices in construction trades, I am not sure where you are going with this.

GOP is also cutting welfare, so there is no help there either.

I guess we will just let them all eat cake and die, right?

And yes, Kamala and the democrats had plans to invest in retraining and re-shoring jobs in manufacturing, but Trump killed all of that with his tariffs.

What was Kamala’s plan to stop the progress of AI because AI when it is fully sentient is not only going to displace the majority of workers regardless of education status but is also a threat
to human extinction that we haven’t seen since the atom bomb?

Where is any politicians plan and who is talking seriously about this besides Andrew Yang? Everyone is asleep at the wheel worrying about trivial issues by comparison. These are the same politicians that allowed social media to brainwash our children and corrupt our minds so thoroughly that a large percentage of our kids are psychotic and on meds and we elected a complete bozo like Donald Trump, which would be unthinkable 30 years ago.

No one is coming to save us from either party. We are all at the whims of whatever Sam Altman wants to do, no matter the social consciences or how much it literally imperils human civilization.

They would be regulating it; they would not have banned regulation at the local level; they would have mandated that the power for the data centers be tied to renewable energy so retail electric costs wouldn't harm the individual and so on. The GOP is leaving this to force a certain type of dystopia.