The whole global economic system is being hilariously upended and you're alive to see it.
Computers will soon operate themselves better than a human could.
How much longer will professional button pushers outperform AI at coding, statistical analysis, spreadsheets, slide decks, etc?
Not much longer.
The majority of white collar intellectual work will be wiped out.
We are horses watching the emergence of the automobile.
But that's not all...
Realtime computer vision is rapidly advancing.
Which means robots that complete manual tasks at a fraction of the cost of a human employee aren't far off.
For the first time in human history, NO ONE can tell you which jobs will still be here 10 years from now.
And now let's consider sovereign debt.
It's still the underlying collateral of the global financial system.
But it's not made for the world that's coming.
At best sovereign debt is backed by tax revenues of citizens that will soon be out of work.
But the massive debt and deficit levels mean that even without mass unemployment, sovereign debt is already pretty much worthless if you reason from first principles.
It can only be paid back in hideously debased fiat currency.
Which means it's already a confidence game that only works as long as people don't think about it too much.
So to review, we have a once in a species disruption of human work, hitting at the same time that the debt-based financial system has reached its logical conclusion.
Any entity with liabilities that need to be paid out in real terms should be scrambling to prepare for this new reality.
Pension funds. Insurance companies. Governments.
They all need an asset that can keep up with the debasement of fiat currency if they want to prevent their constituents from rioting French Revolution style.
No doubt some of the people in charge see WW3 as a convenient solution...
When things get tough at home, the easy thing to do is send the masculine youth to go die in a far-off ditch before they have a chance to rise up.
But there's a much better solution.
It's painfully clear to many of us that finite #Bitcoin is the asset that can help us out of this apparent trap.
Yesterday's announcement that the Wisconsin state pension fund bought $162 million of spot Bitcoin should not be overlooked.
This is the very beginning of a peaceful migration of global capital into the new collateral.
We're hot-swapping the wings of the financial system mid-air.
Which means it might be a bumpy ride.
But that's the real "soft landing" we should be paying attention to.
Not how old man Powell fiddles with interest rates, or how many fiat digits Yellen pumps into the system.
Their goose is already cooked.
The best they can do is delay the inevitable.
BUT HERE'S THE GOOD NEWS!
Washing machines, dishwashers, vacuum cleaners...
These tools gave us more of our most precious asset: Time.
We wouldn't dream of washing our clothes by hand today.
Likewise, AI and robotics will give us an incredible amount of our lives back.
Future generations will feel bad that we spent so much time staring at screens, clicking buttons, and doing menial labor.
Meanwhile, the price of all goods will absolutely plummet in #Bitcoin terms.
Just as fossil fuels lead to an enormous increase in standard of living, so too will the AI and robotics boom.
The biggest challenge in all of this will be what humans do with their time.
Most of us have been conditioned since childhood to think that we must stay busy.
When you're a kid, you have no problem playing in the yard all day, looking at bugs, and living in the moment.
But then we enter the conveyor belt of school.
And we're conditioned to strive and seek external approval for our efforts.
Undoing that conditioning will be the hardest part.
Learning to find contentment in pure human experience will be difficult for most.
#Bitcoin can fix the financial and economic system.
After that, a positive philosophy of living will be needed.
But let's take it one problem at a time 😉
