We are working our way through the long hot days of summer.
Young men are practicing for the upcoming football season and young ladies are competing in volleyball.
I didn’t even mention that the Little League World Series in Williamsport is starting.
With football in the air, though very hot air, we are moving into a part of the year that I have always felt was the actual beginning of the year.
We will have earnings reports this week from some of the biggest retailers like Walmart and Home Depot.
I am without a doubt the worst example of a consumer, so I have little insight into that sector.
My purchases are limited to HEB, Academy, Home Depot and Walmart.
I do order more on line today than ever before which I attribute to finding obscure items no one else would need.
It does seem however, no matter where I go, people are spending money purchasing whatever.
I am not sure where all the money is coming from but it does not seem like the public is cutting back on anything.
The earnings reports this last quarter were mostly above expectations.
Most of the concern was not about the bottom line, but to future cash flow to sustain capital purchases for even more growth.
It does seem apparent that AI is allowing companies to streamline and increase production.
Not a particularly great sign for anyone thinking of getting an MBA.
You have been replaced by the digital world.
I am not saying that is all bad.
I worked in corporate life way before computers were anything more than just a bookkeeping tool.
The more we adopted technology, the faster we got things done.
Not sure we got it done better however.
It does seem to me that we are approaching a point of recognition that just memorizing and regurgitating data by humans is going by the wayside. The mind is a remarkable thing but a computer is just more efficient.
What the mind does however provide is creativity for problem solving.
You take that ability and pair it with confidence, ethical manner one will not need to worry about being replaced by a computer.
One will just use the computer, aka AI, to do much more.
I am sure there will be those that will try to have the digital assistance to do the work but it will become very apparent.
Someone back down the line has to generate the creative spark.
While this is happening, there is going to be a remarkable rise in those that apply trades.
This sector will be richly rewarded.
They may not be billionaires but they will be able to enjoy life.
Not everyone needs to be Sheldon on the Big Bang but you are going to see more and more intellectuals having a bigger and bigger impact on society.
God bless Leonard and the boys.
With all that being said about our changing society and work habits, we still have to deal with the reality of the economy.
In case you haven’t noticed, the Treasury rates on the 2, 10 and 30 years bonds has risen to levels not seen in a decade or more.
Not saying we are going back to the 70s of double digit rates, but it is going to get costly.
Did I mention that this country owes a vast amount of money?
The interest alone is mind boggling and the only thing we get out of DC is where can we spend more money. Not trying to be the canary in the coal mine but seriously.
I do know that nothing will change until it is forced on DC and it won’t be pretty.
So I and your publisher will distract ourselves placing far too much of our attention on our college schools of choice performance on the field. I suppose we all need a bit of distraction as reality can really wear you down.
But as Alfred E Newman was want to say, What Me Worry?
