From NJ Spotlight:
Reconciling rising unemployment and strong job growth: NJ’s uncertain fiscal outlook
New Jersey’s unemployment rate has steadily risen over the past year and now ranks among the highest in the nation. But while some economists and others suggest that’s a cause for concern, the topline numbers may not tell the full story.
The state unemployment rate has soared from 3% to 4.2% over the past year, according to the latest jobs report released by the state Department of Labor and Workforce Development.
That easily tops the national jobless rate of 3.8%. It also puts New Jersey among the states with the highest unemployment rates in the country, with Nevada topping out at over 5%.
Yet at the same time, New Jersey has also enjoyed healthy employment gains over the past year. Nearly 70,000 jobs have been added over the prior 12 months, according to the latest jobs report.
Also running slightly ahead of last year’s pace in August were monthly state income tax collections, reflecting what Department of Treasury officials called a “steady job market” in a recent news release.
First
Damn this would be interesting:
Why Denmark’s Housing Market Works Better than Ours
Mortgage lock-in doesn’t exist in Denmark because borrowers can buy back their loans at market prices in the secondary market.
This strategy is compelling when rates have risen and mortgages trade below par, and contrasts with the US, where borrowers can get out of their mortgages at par but no lower.
In the US, banks originate mortgages but then sell them onwards to GSEs for bundling into mortgage backed securities. But Danish mortgage finance operates on the ‘balance principle’: bank lending is funded by the issuance of bonds which precisely match the cash flows of the underlying mortgages. Danish banks retain ownership of mortgages, including their credit risk. These remain on their balance sheets within ring-fenced ‘cover pools’.
…
The allowance for repurchases below par is facilitated by the fact that Danish mortgage-backed bonds are pure pass-through securities: each specific mortgage can be traced directly to a bond that is traded in the secondary market. This means that when a mortgagor wants to terminate the loan, it is possible to identify the bond it was financed through and buy back an equivalent portion at the prevailing market price.
In Denmark, mortgages are also assumable—as long as the new borrower taking on the mortgage meets the same criteria as the original borrower. In the US, with the exception of FHA and Veterans Administration (VA) mortgages, conventional U.S. mortgages have a due-on-sale clause and are not assumable except in the case of the borrower’s death.
What makes anyone even think US Banks want to retain Joe Blow’s mortgage on their Balance sheet? They no longer keep the debt on their books, so they can continually offer new loans to other prospective homeowners rinse and repeat. The bonds the GSEs sell are owned by everyone and traded like candy. The GSE bond market is deep enough to absorb even large liquidations as cheaper valuations. Even better when the Fed rasies rates the banks still mark these bonds “hold-to-maturity” and whalla via an accounting trick they can value them above-market prices even when they are trading at a discount in the open market.
Even now when we had Silicon Valley implode they sold their bonds at a discount, well the government stepped in with a bailout. They got their cake and ate it too.
Assumable mortgages? How do the banks make money on that?
Nothing changes folks. There isn’t a congresscritter around going to bear that cross, as they won’t make it to heaven after the crucifixion they will get from the Media and Lobbyists.
2010 Dodd-Frank Act was the last major legislation it was supposed to protect consumers from taking out mortgages that are beyond their means to pay the loan. Last I checked conforming loan limit for GSEs is now $726,200 and that gets you a double wide in Garfield NJ. it was $647,200 just last year. Pretty soon they will jack it up again to $800,000..
A gift from Sleepy Joe.
“Student loan debt forgiveness becomes a reality for more than 804,000 who paid for decades”
https://www.usatoday.com/story/news/education/2023/09/25/student-loan-debt-erased/70865070007/
You don’t get more polska than vistula. Lol most of these coaches look like off the boaters.
My very good friend growing up is on this list. Chris k. He was all american on my high school team and at one point how the most goals scored in a season for the state till that record was broken. He was always playing with a soccer ball growing up. If you went by his house, he was juggling. Grew up with a bunch of phenomenal north jersey soccer players. Those were the days.
Juice Box says:
September 24, 2023 at 6:20 pm
We played the Polish kids in Garfield today in the rain.. Funny they kept swearing at the ref and our team in Polish…Two of our kids are of polish heritage so there was some back in forth…spierdalaj and dupek etc…Kids did well we had them 1-0 for until the last 10 minutes and they came back strong to win..
I mean just look at these coaches.
https://scvistula.soccer/coaches/
Guy is good at giving other people’s money away in exchange for votes. Give him that.
Juice Box says:
September 25, 2023 at 8:48 am
A gift from Sleepy Joe.
“Student loan debt forgiveness becomes a reality for more than 804,000 who paid for decades”
https://www.usatoday.com/story/news/education/2023/09/25/student-loan-debt-erased/70865070007/
They all are. Last guy sent mine to Alabama.
On that Anthropic and Amazon news. Time to short NVIDIA?
“Anthropic will also use custom AWS-designed semiconductors ”
Annapurna Labs their inhouse team team developed AWS Trainium and Inferentia chips.
I mentioned cheaper CPU/GPUs etc have to be in the works as well it’s way to damm expensive. From Jassey’s letter to shareholders “common AI models trained with Trainium “are up to 140% faster” than similar GPU systems “at up to 70% lower cost.”
Lol, video is priceless, some comments better.
Chick that almost knocks into him is Phoenix’s niece…GTFO of the way, boomer!!
https://www.instagram.com/reel/CwohWXVOjYh/?igshid=MzRlODBiNWFlZA==
Gold Rush for AI is creating shortages.
Chip-on-Wafer-on-Substrate (CoWoS) production issues….
From a tweet…..and a Taiwan news site.
“Nvidia, AMD, Amazon rush orders have TSMC scrambling to buy CoWoS chip packaging machinery 30% over existing orders, highlighting the ongoing AI boom, media report. TSMC had planned to expand CoWoS capacity to 15-20,000 wafers per month in the 1st half-2024, but the new machinery orders could raise that to 25-30,000, from 12,000 now. $NVDA $AMD $AMZN $TSM #AI #semiconductors
Cool they got it working.
ChatGPT can now see, hear, and speak. Rolling out over next two weeks, Plus users will be able to have voice conversations with ChatGPT (iOS & Android) and to include images in conversations (all platforms).
https://openai.com/blog/chatgpt-can-now-see-hear-and-speak
Clinton video: Well, it’s been 30 years since he was elected. Time flies as boomers age! ;) I didn’t vote for him but he’s the last of the fundamental democrat party before the transformation to its current state. The Obammy regime will be known as the founders of the transformation, ushering in America’s place in global mediocrity. That
failureachievement is occurring faster than anyone could’ve imagined.“Guy is good at giving other people’s money away in exchange for votes. Give him that.”
Did you read article? The income based repayment program was set-up long ago. If people abide by terms then what is the issue? Seems like govt tried to pull a fast one and simply decided not to eliminate balances
“This group of borrowers signed up for what, decades ago, was a new option from the federal government: Making regular payments aligned to their income for 20 or 25 years. When they hit that threshold, the rest of their balance was supposed to be forgiven. A review, however, found that for some of them, years of payments hadn’t added up to an erased balance. The federal Education Department is correcting a miscalculation in the number of payments a legion of borrowers made. “
Bystander- What no refund?
And lets not forget what was jammed into American Rescue Plan Act of 2021
These borrowers have been exempted from taxes, the IRS used to consider canceled debt, including most forms of student loan debt forgiveness or student loan discharge, to be taxable income.
Everyone gets a pony!
$AMZN announces deal with Anthropic.
Chess moves are being played by the big guys.
$AMZN will invest up to $4B in Anthropic. At first, a $1.25B for a minority stake.
– AWS will be Anthropic’s “primary” cloud provider
– Anthropic will have access to significant quantities of $AMZN’s Trainium chips.
– AWS gets early access to Anthropic new models and full integration with AWS Bedrock.
Seems like the $400M that $GOOGL invested early this year in Antrophic wasn’t enough “to buy it out” as a cloud client. AWS just pulled a big move in the AI race.
It seems the landscape will be: $MSFT with OpenAI vs. $GOOGL with Gemini vs. $AMZN with Antrophic vs. $META’s OS LLaMa.
Let the games begin!
Student debt was a thing “20 or 25 years” ago?
Whatever wasn’t picked up by FAFSA/PELL, I paid for in cash from my part time job. Surely these borrowers that have been paying for decades and still have a material balance are in a very small minority.
Re: GPT
This increases the value prop for me as I downgraded from GPT plus because the only time I could use was via my PC terminal. I may sign back up.
I’ll say for Clinton that ever since his bypass, he has always looked so much older than he is. He has looked really frail for at least 15 years. He is only 77. He walks stiffer than Sleepy Joe.
Ten 452. Probably going into the 460’s at some point based on technicals.
No Johnny J-Boys today plus pushing the end of the quarter. Anything is possible.
Phoenix
Another monster in blue
https://www.dailymail.co.uk/news/article-12556677/Married-Pennsylvania-cop-faces-false-imprisonment-charges-improperly-committing-ex-mental-health-facility-shocking-12-minute-arrest-video-allegedly-saying-Ill-paint-crazy.html#article-12556677
Chatter out there saying renewed recession talk is overblown.
The problem is, 95% of the machine learning community eats, sleeps, and breaths Nvidia. Their dominance isn’t commoditized hardware, it’s that they laid the groundwork for this entire ‘industry’, because their software and hardware combination is foundational.
There have always been other options, but the adoption rates have always been low outside of completely bespoke use cases. Everyone studying, learning, and playing with this tech today, is doing it in an Nvidia ecosystem.
It’s not that far from trying to develop and sell a completely new, entirely incompatible, operating system. Who do you think would buy it?
Don’t get me wrong, Nvidia can be displaced, but displacing them is going to take YEARS, not months, and will be completely obvious along the way, as you’d see enough increases in adoption rate to telegraph that transition in real-time.
HMB,
That video is insane. But so is the cop. Back the blue all you want-but this lady came real close to being locked up in a mental institution thanks to the authorities.
It all starts right there- your first interaction- and the reports they write.
I wish there were body cameras around sooner, but it was resisted by their unions. This guy did his attack off duty- and his buddy filming- was he a cop? Somehow they got the video from a cellphone.
Cameras tell the truth. Thank you engineers for giving people justice.
DIE BOOMER, DIE!
https://www.yahoo.com/finance/news/gen-z-t-alongside-people-113952175.html
Grim – Not saying there won’t be tears. Just look at Ginko they signed a five year deal with Google to re-platform. There isn’t even a single book on PaLM 2….
Do you think their data scientists picked that one, running on Tensor?
Biden calls LL Cool J “Boy.”
Someone gotta get him off the stage.
Funny article. I work with Gen Z, they are different to say the least. But they are not impossible to work with, and some are quite pleasant. I find them fun for the most part-but they are better 1:1 than in groups- at least for training purposes.
Fast Eddie says:
September 25, 2023 at 10:55 am
DIE BOOMER, DIE!
https://www.yahoo.com/finance/news/gen-z-t-alongside-people-113952175.html
Yeah, just send the military into another country whenever you feel like. Closing the border is one thing. Sending special forces is another. Does Mexico even have a real military anyway-like with tanks and stuff?
“America is facing record-breaking numbers of migrants from Latin America, Africa and beyond crossing the US/Mexico border by foot and by train creating an unenviable political task for Joe Biden as he heads into election season as all sides of the political spectrum call for action.
Donald Trump has called it in an ‘invasion’ and promised military action if he is reelected and other Republican frontrunners, including Florida Governor Ron DeSantis, have promised to send in troops to deal with Mexico’s drug cartels while Biden’s administration continues to scramble for solutions.”
Mexicans coming to America, women going to Mexico:
A New Border Crossing: Americans Turn to Mexico for Abortions
American women are seeking help from Mexico for abortions, crystallizing the shifting policies of two nations that once held vastly different positions on the procedure.
I guess it depends on if you are developing AI as your core product, or as a deeply integrated component of your core product, or if you want to consume an AI service to gain access to some pre-packaged AI capability.
What OpenAI did right was make it stupid easy to integrate their AI services into whatever you were doing. If all you want is access to the service, just go ahead and consume that service and don’t worry about the underlying AI infrastructure.
Though, what’s becoming obvious now, is if you do this, everyone else will be quick to follow. So, these new AI capabilities you’ve integrated are differentiators for all of a week or two, until your competitors realize how easy it is to do the same. There is absolutely nothing defensible about integrating 3rd party AI into your products.
The easiest way to understand the cloud provider mindset here is simply: selling compute and storage, nothing more, everything else (including their IP, chips or software) is only a means to those ends.
If I told you that Trump gave away trillions, tax free to businesses for rent, payroll, supplies, utilities etc yet these businesses who never lost a cent, please tell me about the outrage..oh there was none. This is all ops and marketing. Neither side has ever cared that you get a fair deal for paying your bills.
While your fellow Americans suffer- yeah, my tax dollars- yet my kid’s school doesn’t have air conditioning, and decaying/missing tiles on the ceilings.
Joe Biden is bankrolling Ukraine’s 57,000 first responders – and even funding fashion stores, schools and farms – in $10bn aid package
US funding for Ukraine has not just covered the direct costs of war – other sections of the country’s economy have also received billions of dollars
The country’s farming sector has received hundreds of millions of dollars, while small businesses and first responders have also benefited from aid
Lawmakers in the US are torn on whether Ukraine should continue to receive billions from taxpayers
Perhaps Nvidia for Business computing. But for biomedical research? Maybe not.
Lots of OSS around protein folding with Google DeepMind’s AI and AlphaFold running mostly exclusively in Google Colab.
4 minute mark on this video Ginko aren’t really using GPT4 in biomedical research, so a collab with Google would be a much better fit.
https://youtu.be/hu1rYVN1w5U?list=PLOxf86LV51W2i-zb3_BOBAd6CvckuKaAo&t=248
Just went to CVS for my covid vaccine. I was told that Horizon NJ has yet to authorize payment to pharmacies for the new vaccine. They wanted $190. How is it possible the largest health insurance company in the state won’t pay for my covid vaccination at CVS?
Every time you hit a pothole. Or see a crappy train. Or drive in an old tunnel or over a worn out bridge, remember:
The money to fix it was spent in another country, and you paid for it.
Your politicians don’t care about you, they have such good jobs that retirement for them only comes when the coroner pronounces them deceased.
That money went to Ukraine. Old Realtor taxpayer we don’t care about you. Signed, your government.
Old realtor says:
September 25, 2023 at 11:28 am
Just went to CVS for my covid vaccine. I was told that Horizon NJ has yet to authorize payment to pharmacies for the new vaccine. They wanted $190. How is it possible the largest health insurance company in the state won’t pay for my covid vaccination at CVS?
Phoenix,
I think you know answer. The issue has never been about lack of funds. Capitalism only works if millions work/produce for basically nothing. Money can never get into the hands of needy. Sure, throw them 1k one time which gets absorbed quickly but never give them 1k more every month. They will spend it which leads to inflation.
Old Realtor – FYI… You first, as those bastards are lying again.. we’re back to what we call a monovalent vaccine, meaning there’s only one component—that XBB.1.5 omicron variant.
Also “No clinical studies evaluating the effectiveness of the new vaccine formulations are available.”
https://secure.medicalletter.org/TML-article-5067a
But hey what does not kill you only makes your stronger.
Phoenix – Their entire country is fighting a war of attrition so NATO does not have too.
I don’t like people politicizing this. It has broad support in Congress and America. The fringes are pushing this Maui and Ukraine narrative and now first responders.
Perhaps not give COLA to the seniors this year instead give it to Maui….
Our good Senator Menendez.. $480,000 in cash in the sock drawer because well you know the communists are coming for him.
“For 30 years, I have withdrawn thousands of dollars in cash from my personal savings account, which I have kept for emergencies and because of the history of my family facing confiscation in Cuba,” he says. “This may seem old-fashioned, but these were monies drawn from my personal savings account based on the income that I have lawfully derived over those 30 years.”
https://nypost.com/2023/09/22/bob-menendez-live-updates/
lol, and the gold bars?
Sure, Bob, just show us the bank records, right?
Because, you know, that Egyptian dude’s DNA that was on your bills was a teller at your local Valley National branch…
And, of course, a good bunch of those hundies will have issue dates on the bills from the last millennium….
He must think the national audience is as stupid and Dem machine controlled as the typical NJ voter….
Phoenix,
The mayor estimates that it will cost $1m to add air conditioning at 4 schools.
-Mayor selects friend’s firm to complete initial planning and assessment (100k)
-Mayor govt selects cousin’s environmental team to conduct environmental impact (100k)
-Mayor selects brother’s architecture company to draft plans (250k)
-Mayors selects mafia donor’s construction company to charge (300k) for 150k worth of time and materials
-Multiple drink/dinners/expenses and hockey box seats for all (50k)
-Overruns for fun (100k)
-Labor to install a few air conditioners. 10 contactors and they want $25/hr? Wow, that is too much much. We are over. We can only pay $15 and let’s put in cheaper units (15ok). Taxpayers won’t ask.
There is your 1.1m for 1m estimate.
It’s a slam dunk, some of the cash has the fingerprints and D.N.A. of Mr. Daibes and his driver and also envelopes are marked with Mr. Daibes’s return address. Gold was traced too, to the Halal meat guys etc.
Menendez will be over the denial phase once Schumer calls for an expulsion vote or else. There is an election to win in a year they cannot afford to lose the seat.
There is only one problem, Menendez will beat this again with a hung jury, he did it once he will do it again. Democrats are the best criminals EVER!!! Pelosi laughs at all the millions she has made, like she said “we all have the right to make money….even politicians.” So what if she has inside information.
Menendez is pure sleaze, yet the odds of him being re-elected are pretty good and he knows it.
I would also think the co-conspirators will toss him under the bus for a deal. The new wife too once she gets her own separate lawyer… Heck his ex-wife who I believe still lives in Hoboken will be happy to testify after all her alimony will be ending once he is kicked from the Senate.
Offshoring, the scourge of the U.S. manufacturing workforce in the last decades of the 20th century, has lost favor with some business leaders after the pandemic highlighted the vulnerabilities of a global supply chain. Reshoring—bringing manufacturing back to the U.S.—is gathering momentum, backed by billions of dollars in government subsidies.
That leaves immigration. After falling during the pandemic because of Covid-related policies, immigration has come back strongly. But it remains a divisive issue, and business leaders say the lack of a coherent, stable policy is contributing to the labor problem.
“If we don’t solve this with a thoughtful immigration program, we’re going to drive wage rates through the roof in the next two to three years because of the systemic shortfall of labor at the end of the day,” Fish said.
Why America Has a Long-Term Labor Crisis, in Six Charts
Why America Has a Long-Term Labor Crisis, in Six Charts
https://www.wsj.com/economy/jobs/labor-supply-economy-jobs-charts-3285a5b7?reflink=integratedwebview_share
Will Menendez’s suits fit on Fetterman? He will not need them where he is going.
Also works
Jim says:
September 25, 2023 at 12:50 pm.
Trump is pure sleaze, yet the odds of him being re-elected are pretty good and he knows it.
Jim says:
September 25, 2023 at 12:50 pm
Menendez is pure sleaze, yet the odds of him being re-elected are pretty good and he knows it.
Re: AI, career employment and personal life
This was the number one issue on my household for over two years as my oldest was getting ready to apply for college and she was deciding on her occupation. I had her read AI 2041 book. She also had to read two other AI books of her choice and write a report on her current thoughts and future predictions. After months of emotional conversations, (mostly caused and dragged out by my wife, ughhh) her rational side of the brain took over.
This fall she started attending a local school with a 5 year cohort BS/MS Physician Assistant program. At 22, she’s expected to be a practicing medical professional and contributing member of our community with a decent salary.
Her dowry trust (portfolio) peaks,- if her wedding is by age 25 and the last disbursement, – if my third grandchild is born by age 32.
These life markers are very controversial (even in my house right now) but I don’t really care. They’re intended to protect her from both AI and cultural woke type nonsense, – so that her life has both purpose and fullfillment.
Wonder how others are advising their college age kids about AI disruptions…
Secular trends:
$SOFI moving from physical banks to digital banks (everything finance under one app)
$COIN moving from legacy infra to open source global blockchain infra
$TSLA moving from driving your car to your car driving you
$DNA manifesting molecules on demand
Trudeau on the mood of Canadians in a recent interview with @nytimes
“It really sucks right now. Like, everything sucks for people, even in Canada. We’re supposed to be polite and nice, but, man, people are mad.
People are mad at governments because things aren’t going all that well and people are worried. So, yeah, it’s a tough time.”
I think menendez some have said he’s never spoken to his wife about her business and he’s never benefited from it. It would have blown up the case.
NYC Director,
I’m pretty sure none of us have dowry trusts with conditions about the age our daughters get married or have kids.
My opinion is, if you have to make money conditional on obedience to some stated values, then you probably haven’t done a good job of making a persuasive case for those values.
Maybe Chifi has a different opinion about putting rules and conditions in trusts.
My kid isn’t going to get much money from us till both my wife and I are dead. Probably not that tax efficient, but I’m not even sure right now whether my retirement savings is going to fund a luxury lifestyle or a more modest one. My kid’s inheritance will bear more of that risk than I will, because she’s getting the residual, and hopefully not for several decades. From the beginning we told her real happiness in life comes from what you make for yourself, not what others give you.
Walgreens gave me my vaccine without any issue. CVS wanted $190 and told me my insurance didn’t cover it. Go figure.
While your fellow Americans suffer- yeah, my tax dollars- yet my kid’s school doesn’t have air conditioning, and decaying/missing tiles on the ceilings.
This is a symptom of abbott funding. The richest towns in the state have leaky ceilings and can’t even afford basic necessities like MS word or a class set of calculators. You should see the new high school they build in Trenton.
re: “These life markers are very controversial”
Probably illegal? No mention of the arranged marriage clause? How about a caste clause then got on in there too?
Old realtor – FYI XBB.1.5 has almost faded from existence 40% of cases in June now it’s 2.2% of cases.
They have utterly failed with multivalent. It was hoped they could build a super vaccine, but looks like it won’t happen now.
https://covid.cdc.gov/covid-data-tracker/#variant-summary
I like checking the serial numbers on the bills! Also, do we really want a Senator who has so little faith in the banking and political system that he is a major part of that he keeps hundreds of thousands in U.S. currency under the mattress? Or is he just stupid.. either disqualifies him from public office.
Explain….. a penis shaped rocket is going to be managed by a guy named Limp?
https://www.cnbc.com/2023/09/25/blue-origin-ceo-bob-smith-out-replaced-by-former-amazon-exec-dave-limp.html
Just said…….. Ten to 525? Fuck me….. technically oversold in the short term now and any fade to 475, but then pow…..
1987,
Is not faith in the system issue. At the end of the day cash is king and gets things done. But he knows that a lot of eyes are watching him between being a member of the foreign relations committe, high profile politician, personal assets annual report, so cash usage is a no-no.
The only way to make it is the Trump model. As always Trump’s corruption is flashy and very visible, but they are many like him that you barely see if you look hard. There is a reason he hold courts at Mar-a-lago and his golf courses. People want to meet with him, have to rent rooms + eat meals + play golf at the resorts which they or their campaign pays Trump for. If Trump agrees to back a candidate and help out with fundraisers like Rudy’s 100K /per person – they will be held at his resorts and you bet they are going to charge the candidates or Rudy a hefty fee for it. At the end of the day Trump’s resort make money and thereby he makes money.
Menendez issue has been women. His first wife was his guardrail. He cheated on her with a PR person that he later married and there were ethical issues because she was using his name. Later he had the Dominican Republic issue were he was acting like a 21 yrs old spring breaker with his opthamologist friend. And this third wife is a woman and proud of it.
I do think the cultures are issues. The lady is originally from the middle east were corrupt politician are a given and she willingly or unwillingly might have crossed the corruption Rubicon. He should have known better and read the riot act to her. As he was the one that outed Union City’s Mayor Anthony Musto’s mob rigged construction arrangement for that city’s high school and constructions of several other building.
I don’t think he was set up. Power corrupt, remember Corzine’s first Attorney General that resigned because she interfered and threw her weight around with a local cop towing her boyfriend’s car for expired registration.
But he has very powerful interests as enemy. Top 3.
1- NJ Hudson waterfront developers that want to build really high – like the Jersey City Goldman Sachs building high. Originally many like Imperatore and Daibes were mob linked, but many now are big Wall Street PE crowd.
2- Cuban, Iranian, Saudi and Russian intelligence. Hell our own Moscow Phoenix will run him over if given the chance.
3- Robert Torricelli. Boy do they have a feud. Is like https://youtu.be/xrziHnudx3g?si=Jbn_ueW58N8BmsNl
Tic tic tic…
chicagofinance says:
September 25, 2023 at 5:14 pm
Just said…….. Ten to 525? Fuck me….. technically oversold in the short term now and any fade to 475, but then pow…..
“Probably illegal? No mention of the arranged marriage clause? How about a caste clause then got on in there too?”
My bad. Should have never mentioned it. Ignore the post graduation life markers part…just wondered how others are/would advise college age kids with respect to AI.
NYC D,
Do you really believe that AI masters will collapse the world and have billions living on streets jobless? They need billions to buy their products. This is stupid non-sense.
A straight kick in the nuts. Try that AI.
10% of home sales in the US are driven by employees who are forced to end remote work, per Redfin.
8:12 small potato’s
Our other Senator Booker has been busy cosponsoring legislation, but no comment on Menendez.
Algorithmic Accountability Act of 2023
Attempts to put the breaks on AI, buy empowering the FTC to create a new enforcement wing. Any decision made by AI, example approve hiring or approve a medical procedure, would be subject to enforcement if deemed it was “not fair”.
“Augmented critical decision process” (ACDP) means a process, procedure, or other activity that employs an automated decision system to make a critical decision.
“Automated decision system” (ADS) means any system, software, or process (including one derived from machine learning, statistics, or other data processing or artificial intelligence techniques and excluding passive computing infrastructure) that uses computation, the result of which serves as a basis for a decision or judgment.
“Critical decision” means a decision or judgment relating to consumers’ access to or the cost, terms, or availability of education and vocational training, employment, essential utilities, family planning, financial services, healthcare, housing or lodging, legal services, or any other service, program, or opportunity that has a comparably legal or similarly significant effect on a consumer’s life as determined by the FTC Commission through rulemaking.
https://www.wyden.senate.gov/imo/media/doc/algorithmic_accountability_act_of_2023_section_by_section.pdf
Bosses Aren’t Just Tracking When You Show Up to the Office but How Long You Stay
Employers step up monitoring of in-office attendance, though efforts can alienate workers or prove difficult to implement; watching for ‘badge pirates’
Pumps – re “badge pirates” Funny just today I spoke with a friend who works in IT at a major bank told me today people are showing up at the office in Manhattan and then leaving after lunch to beat the rush hour. Nobody wants to go back to the commuting grind. Hybrid three days for many companies now, the are tying to push the MDs to four days.
Another friend who has been remote for 10 years at another major bank was told last week three days in the office at one of their major office buildings. He lives far down the train line. He will quit if forced.