Monthly Archives: June 2024

Book Bits: 29 June 2024

● The Singularity Is Nearer: When We Merge with AI
Ray Kurzweil
Review via The New York Times
In “The Singularity Is Nearer,” Kurzweil promises that, by 2029, A.I. will be “better than all humans” in “every skill possessed by any human.” During the 2030s, solar power, enhanced by A.I.-driven advances in 3-D printing, will come to dominate the global energy supply, most consumer goods will be free, and the “dramatic reduction of physical scarcity” will “finally allow us to easily provide for the needs of everyone.” Sounds rad!
Enter the blood robots. Have no doubt: “The long-term goal is nanorobots.” One day next decade, Kurzweil believes, you and I will feed nanobots through our capillaries. The little busybodies will swim to our brains, where they will connect our neocortex to the cloud, allowing us to expand our intelligence “millions-fold.” This is “the Singularity.”

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Decamping To Rhode Island

The Capital Spectator will be in Rhode Island for the remainder of the week. The diversion to the Ocean State will end on Monday, July 1, when the standard fare resumes. Cheers!

Book Bits: 22 June 2024

What Went Wrong with Capitalism
Ruchir Sharma
Essay by author via Financial Times
Many observers think the era of easy money ended with the recent return of inflation, because it forced central banks to raise interest rates. But this era was not defined only by low rates and did not begin only in 2008; it encompasses the suite of habits — borrow, bail out, regulate, stimulate — that have been building for a century. It is not over until old habits change.

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Macro Briefing: 21 June 2024

* Eurozone recovery in June slows for first time in 4 months: PMI survey
* Citigroup predicts banking sector will suffer the most with AI-related job losses
* Bank of England leaves rates unchanged despite inflation falling to 2% target
* Electric vehicle sales slump in Europe, driven by demand slide in Germany
* US jobless claims eased last week after three straight weekly increases
* US housing starts drop to four-year low in May:

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