Tales of The Musk Ox - episode 1

By now you've come across The Musk Ox's declaration that AI will kill All Jobs, and that we must, therefore, have a "universal high income". Of course, he's smack in the middle of firing his employees (with their not exactly high incomes).

"He's trashed the Tesla brand," investment management CEO and noted Tesla bull Ross Gerber told The Independent. "Is there any group of people that he hasn't insulted other than white people...? Only him and Kanye West have reached this level of people's distaste for him."

Only in America. Or Russia or China or Turkey or Hungary or ... any dictatorhip you want to mention.

The Musk Ox is right in assessing the problem: recessions and depressions are the result of collapsed demand, and that is the result of income/wealth inequality spiking at a point in time. And, if it's pervasive enough, as 1929 and 2008, then an extended collapse results. And, of course, he's right that IFF some form of AI eliminates all jobs for the sub-GED class, then there's no way for AI-driven (aka, humanless) output to clear. Of course, his new Best Buddy, aka wannaBePresident Huey Long 2024, will show that he alone can fix it through the equitable engine of yet more tax cuts for the wealthy.

Just a reminder:

As mass production has to be accompanied by mass consumption; mass consumption, in turn, implies a distribution of wealth -- not of existing wealth, but of wealth as it is currently produced -- to provide men with buying power equal to the amount of goods and services offered by the nation's economic machinery.
-- Marriner Eccles/1951