We've become a financialized economy since the 1980s. We have debt underneath every single thing. We own our cars, our homes, our buildings, our businesses. Credit card debt, debt here, debt there. You take the unemployment rate from 4.3 to 8.6. Folks, we're in a world of hurt. And by the way, you think wealth inequality is bad now, all sudden, businesses start making more and more money because they've eliminated all the jobs. (08:40–08:45)
CLAIM
Predicts that unemployment rates could double due to AI-related job losses.
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