Subject: Re: Control Panel: 2026 Economic Forecasts
There are a couple of things which I find disconcerting:

“Spending by upper-income households was buoyed by high stock-market valuations.”

Yet, (while it also might be the usual case of kleptocracy often seen in private capital takeovers), the Saks Group of Bay, Saks, Bergdorf Goodman and Neiman Marcus has just declared Chapter 7 bankruptcy.

While there is currently a boost in employment to build the data centers and power infrastructure for the AI build-out, it is important to contemplate that the function of actually making a return on that investment is by the recovery of the savings of cutting payrolls.
Investors care about profits, but there seems to be little political will to consider the social upheavals which will be caused by the general adoption of far more effective AI’s in the foreseeable future.

People should be careful what they wish for.

Jeff