Elon Musk: Basic Income is required in response to new technologies

Tech innovators in the self-driving car and AI industries talk a lot about how many human jobs will be innovated out of existence, but they rarely explain what will happen to all those newly jobless humans. As usual, Tesla and SpaceX founder Elon Musk responds to an obvious question with an answer that may surprise some.

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Ushering in the Closing Chapter of the Human Species

(From  Ken Orphan): The epic assaults being carried out against the vulnerable around the world at this very moment will determine the fate of our species and the living earth itself.  To the powerful this statement is hyperbole at its extreme, but to those of us on the other side there is no condemnation that is too exaggerated when it comes to the destruction of communities and of the biosphere itself.  The attacks are taking place along ancient rivers in the American Dakotas, in the life drenched rain forests of Ecuador, in historic olive groves in Palestine, in the melting tundra of the Arctic circle, in the sun baked Niger Delta, and in the war torn or misery laden shanty’s of Aleppo, Kolkata, Jakarta, Nairobi and beyond.  These may seem like separate instances to some, but they are a part of a global struggle and the outcome will in all likelihood determine our collective future and that of millions of other species that we share this planet with.

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Central Banks Eye Infrastructure Spending

(Reuters) While markets wait for Janet Yellen’s latest message about the direction of monetary policy, the Federal Reserve chief and her colleagues already have one for politicians: the U.S. economy needs more public spending to shift into higher gear.

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Sanders: Failures of Globalization

[Zero Hedge/NYT] Surprise, surprise. Workers in Britain, many of whom have seen a decline in their standard of living while the very rich in their country have become much richer, have turned their backs on the European Union and a globalized economy that is failing them and their children.


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RT: 64% of Europeans support Basic Income

RT: Most Europeans support the idea of a “basic income” paid to every individual to cover their basic needs, according to the first EU-wide survey on the subject. Governments would pay the same amount of money to each person, regardless of whether they work.

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Saudis Warn US Over 9/11 Bill

(CNN) Saudi Arabia is warning it will sell off billions in American assets if the U.S. Congress passes a bipartisan bill that would allow victims of 9/11 and other terrorist attacks to sue foreign governments.

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Canada to start BIG experiment

The province of Ontario, we learn this week, is set to become the first region of the country to test a “basic income”, a social support system that does away with means-tested welfare and replaces it with a single, universal payment that every citizen is entitled to. It is the ultimate leveller – and, as such, is the latest fad in leftish circles. And, apparently, Trudeau and his party are interested in extending this idea further.

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Paul Craig Roberts Interview

Absolutely insightful — one of the best minds around reviews the current world situation.

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Rifkin: Radical New Economics On the Rise

At the very moment of its ultimate triumph, capitalism will experience the most exquisite of deaths.

This is the belief of political adviser and author Jeremy Rifkin, who argues the current economic system has become so successful at lowering the costs of production that it has created the very conditions for the destruction of the traditional vertically integrated corporation.

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William White: Epic Defaults Ahead

The Telegraph: “The only question is whether we are able to look reality in the eye and face what is coming in an orderly fashion, or whether it will be disorderly. Debt jubilees have been going on for 5,000 years, as far back as the Sumerians.” — William White, Former Chief Economist, Bank of International Settlements

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