This isnt about the change new technology brings. You can welcome the Digital Age or you can condem it. Doesnt matter. What matters that things WILL change. Very drastically in a small amount of time. A LOT of stupid, boring, menial jobs will soon vanish. Which is a good thing, but what to do with all this people who worked on those jobs?

Our wealth is based on us buying lots and lots of new things. Things and services. For that, we need money. We work to get that money. But if more and more jobs vanish, you cant just wait and hope for the best. You have to somehow counter that loss of expendable income.

What method you use or what combinations will be effective ... time will tell. But relying on the Invisible Hand of God (err ... The Free Market) and making the already super rich even more rich will NOT work.

As i said ... in Davos more and more influental people finally agree that something has to be done, because those job losses and economic changes will happen. Very fast. This is not a slow process like changing from hunter/gatherer to farming. Even the Industrial Revolution took several generations to finally establish itself. The Digital Revolution, in combination with a more and more intertwined, globalized world will change our lives in a matter of only a few decades.

This isnt just the US economy. The Digital World will make many jobs obsolete everywhere. In a few decades there will be not enough manual work left to make a living for everyone.

Which means ... there will not be enough spending capacity left to generate enough revenue for a lot of industries. When no one has work, no one has the money to buy stupid crap they really dont need, so entire industries will go bancrupt which means more jobless people which means even less disposable income.

In Davos, on the World Economic Forum, for the first time there was a decent and serious discussion about possible solutions for this developement. From heavily investing in education for future generations to different models of basic income.

"They" know that something has to be done. There has to be some form of wealth distribution or everything will go up in flames.

@Bernie:
As a European Bernie isnt THAT much a leftie. He wont win the nomination, but the more he gives Hillary a hard time, the more influence he will have on her future social and economic policies. May be he'll even end up in her government.

Regarding Davos, a character I've come to admire, I wonder if they're going to show his amputated fingertips (by, I imagine, painting them green for CGI's sake) or if that hand will be permanently gloved.

I still say Gerard Butler would've made the best Stannis. Dillane can't grind his teeth as well. But it's good to finally put a face to Davos!

>> ^Pprt:
Ahahaha, did I just see a Turk accuse another "race" or being bloodthirsty murderers? The Ottomans were, asides from the Huns, probably the cruelest empire in the history of humanity.


That's the best you can come up with? Recalling the acts of a thousand odd years ago? X D

News and World Affiars are entirely different beasts.

If someone breaks into a convenience store in Los Angeles and there's a funny news clip about it, it most certainly isn't World Affairs. And not all "world affairs" are on the news.

The Davos summit is a world affair, but none of the clips are specifically from a news broadcast channel.

The Election08 channel still serves a purpose, as Obama has yet to fill his cabinet, and there are a few tails of issues that are still permeating from the last Election. I'm sure within a few months tho, that channel will be pointless.


I'm all for the admin's creating this Economics channel.

Honestly the Davos Economic Summit is not at all covered at Videosift even though its the most important Summit in the last 10 years given the same situation right now in the world. Alot of news worthy events occurred, some videos from the Summit:

http://www.videosift.com/video/The-Extent-of-the-Economic-Crisis-Stephen-Roach
http://www.videosift.com/video/Turkish-PM-Storms-Out-of-Gaza-Debate-at-Davos
http://www.videosift.com/video/Clinton-Jokes-About-Putin-Supports-Bad-Bank
http://www.videosift.com/video/Marketplace-org-discusses-how-Bad-Banks-could-be-good
http://www.videosift.com/video/Putin-Jabs-at-US-Over-Global-Economic-Crisis
http://www.videosift.com/video/The-Daily-Show-Lawrence-Lindsey-talks-the-stimulus
http://www.videosift.com/video/Barney-Frank-Fact-Slaps-GOP-on-Stimulus-Plan
http://www.videosift.com/video/Where-Are-The-Bankers-Barney-Frank

and so on and so on from the Unsifted...

While I disagree on Turkish own stances with regards to the Armenian genocide, and Turkey's increased trade with Israel following Erdogan's election. What happened at Davos was simply shameful and I agree with his walkout. They don't let him speak, they didn't question Shimon Peres at all. Fucking lunacy.