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Technology Review

Some futurists such as Ray Kurzweil have hypothesized that we will someday soon pass through a singularity--that is, a time period of rapid technological change beyond which we cannot envision the future of society. Most visions of this singularity focus on the creation of machines intelligent enough to devise machines even more intelligent than themselves, and so forth recursively, thus launching a positive feedback loop of intelligence amplification. It's an intriguing thought. (One of the first things I wanted to do when I got to MIT as an undergraduate was to build a robot scientist that could make discoveries faster and better than anyone else.) Even the CTO of Intel, Justin Rattner, has publicly speculated recently that we're well on our way to this singularity, and conferences like the Singularity Summit (at which I'll be speaking in October) are exploring how such transformations might take place. 

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The USS America is in serious trouble, very serious trouble as she is taking on large amounts of water and is beginning to dangerously list to the left. Precious few of the passengers have attempted to reach the lifeboats because they mistakenly believe the propaganda spewing from the chorus of six voices emanating from the Captain’s Bridge which are repeatedly urging everyone to remain calm.

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Gary North for

Our children are not going to pay off the suckers – us – who naïvely thought they could pass on the Old Maid of government debt to them.

Here is economic reality. Taxpayers and Treasury debt buyers are paying for all of the benefits that voters enjoy as recipients of government-funded programs. Voters are not transferring these costs to future generations. Costs are inescapably the same as benefits. If we receive present benefits, someone pays for these benefits in the present. The only questions are these: Who Wins? Who loses? How soon?

Economists despair about their inability to get across this simple idea: we consume only present goods.

Economics students nod their heads in agreement with the professor. "Yes, yes; we know that." But they don't know it. As soon a

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The GAO (Government Accountability Office) periodically issues reports titled something like "The Nation's Long-Term Fiscal Outlook" that attempts to predict the future economic outlook of the USA based on computer simulations. The reports cited here show that the result of the Obama administration's efforts to "fix the economy" will most likely make things much worse. Not just in the short term but for a long time!

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