Can Trump Get 3 Percent Growth?

By Peter Morici – Re-Blogged From Newsmax

President Donald Trump’s economic team paints a rosier picture about what his policies could accomplish than the economics profession is willing to endorse.

His team is formulating budget and tax proposals that project 3 percent annual growth, while the number crunchers at the Congressional Budget Office estimate only 1.9 percent.

How fast the economy can grow comes down to the simple sum of likely worker productivity and labor force growth. Since the financial crisis, productivity has advanced about 1 percent a year, as compared to the 2 percent in prior decades.

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Tech Experts Disagree Wildly on the Future Impact of AI

By Tom Ward – Re-Blogged From Futurism

In Brief
  • Elon Musk has given a doomsday prophecy on the topic of AI, going as far as to invest $1 billion into researching how to use it safely.
  • Other experts have different perspectives on the future of AI, but all are agreed that this is an important topic, and how we use this powerful technology must be thoroughly thought through.

The AI Debate

Our technology prophets are talking in the lexicon of magic, gods, and monsters when it comes to artificial intelligence (AI). They predict every scenario from utopias to apocalypses, overlords to angels.

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Debts, Bastiat And Modern Economics

By Alasdair Macleod – Re-Blogged From http://www.Silver-Phoenix500.com

There is a well-worn conundrum told about a stranger, who walks into the hotel in a remote, sleepy village in Mexico, and reserves a room for the night, paying 1,000 pesos in advance. The innkeeper rejoices at this unexpected turn of events, for the village is remote, few people have any reason to go there, and there is very little money. The innkeeper goes to the village butcher, to whom he owes 1,000 pesos, and discharges his debt. The butcher takes the 1,000 pesos and pays it to the farmer, who supplies him with his meat for which he owes the same amount. The farmer hands this money over to Maria, which he in turn owes for her services. Maria, who is the entertainment centre for the village’s men, then goes to the innkeeper and pays off her bar bill, incurred as a necessary expense of her business, and which, as you might have guessed amounts to 1,000 pesos.

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Scientists Are Using CRISPR To “Program” Living Cells

By Dom Galeon – Re-Blogged From Futurism

Scientists from the University of Washington have constructed digital logic gates in living cells. Though they’re not the first to do so, the researchers’ living circuitry is the largest and most complex of any created thus far.

Living Circuits

Thanks to projects like Elon Musk’s Neuralink, a future in which humankind merges with machines is on everyone’s minds. While a brain computer interface (BCI) like the one Musk is proposing would involve making a computer function as part of a human body, other researchers are taking an opposite route. Instead of making machines that can imitate biology, they’re looking for ways to make biological systems function more like computers.

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Moody’s Slashes Hong Kong Rating After China Downgrade

Re-Blogged From http://www.newsmax.com
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Hong Kong saw its debt rating cut by Moody’s Investors Service hours after China’s downgrade, highlighting potential risks from a tightening economic integration.

The former British colony has seen not only its property and stock markets increasingly entwined with the world’s second-largest economy, but its government as well. Moody’s cut the rating on local- and foreign-currency issuances to Aa2 from Aa1, and changed the outlook to stable from negative.

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AI and Robots Will Change the Way We Create and Consume Content

By Benjamin Stecher – Re-Blogged From https://futurism.com
The future of entertainment in on its way toward some major changes. The rapid pace of technological advancement is allowing more content to be
created in more ways. Also, with the rise of automation, more people will be able to pursue creative endeavors.

Counting on Student Loan Forgiveness? Don’t Bet on It

By Bloomberg – Re-Blogged From Newsmax

Nearly half of college students surveyed earlier this year said they expected to be helped by the federal government’s various student loan forgiveness programs. But new government figures suggest that their hoped-for windfall won’t be that generous.

In a first-of-its-kind public analysis, the U.S. Department of the Education projects that borrowers who next year enroll in loan forgiveness programs would, on average, repay every penny they borrowed, and then some. Some debtors in the programs, which cap monthly payments relative to earnings and offer the possibility of debt forgiveness, are projected to pay as much as 76 percent more than they borrowed. The forgiven amount would largely be interest that accrued over what could be as long as 25 years of making payments.

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