Nobody Said The Singularity Would Be Easy
The exponential gains in technology are indisputable, but the journey has its bumps and dips.
Financially, we’re undergoing some insane, never-seen-or-felt-before dips and lifts in the stock market. The effects of which are being felt globally. What started out as high house prices in the west and southwest have reverberated across the country, over Europe and into Asia.
Gas prices soared. Then they crashed.
In movements that took only months, various stock markets have returned to levels they haven’t seen since 1997, discounting all measures of productivity gains and increased computing power.
The critics of the Singularity say that limits have been reached. Technology can only help so much. And, prosperity will now level off, or decrease.
I believe that people are drawing the wrong conclusion from the right evidence. Advanced technology does not decrease volatility; nor, does it decrease human emotions, like euphoria… or panic. The technology that’s responsible for some amazing gains in computing power, productivity increase, and global interaction can be just as easily be used to spread panic in the financial system around the world.
From epoch to epoch, uncertainty and panic tend to grow. New worlds and new dimensions are not easy births.
As counterintuitive as it may seem, could the extreme volatility in real estate markets in the United States, the wage decreases in Russia, the closed factories in China, and empty oil fields in the Middle East, be signs that the world is on track for the Singularity?
Related posts:
- Wealth Singularity Technology Is (Almost) Here
- Automated Trading and the Singularity
- The Singularity… and the Trillion-Dollar Ponzi Scheme
- Fear And Loathing In The Investing Singularity
- Read the First Two Chapters of The Wealth Singularity for Free
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
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