TECHNOCHASM

Technology is advancing exponentially and its adoption is also experiencing exponential growth. Our lifestyles are set to change dramatically as a result. At the same time governments have recklessly taken on so much debt they are unable to govern responsibly. Money printing is rampant and interest rates close to or at zero. A great financial reset is inevitable. As well, Covid has given governments much more control over their citizens which they will not readily relinquish. Covid has also changed dramatically how businesses operate and in fact how we live our lives. The scene is set for Technochasm. Eric Fry, editor of Fry’s Investment report first used the word Technochasm to describe the phenomenon that is dividing our economy — and our stock market — into distinct groups of winners on one side … and losers on the other. Tech-focused and tech-enabled companies are leaving their old-school counterparts in the dust — both on Main Street and on Wall Street.

Crown prince Mohammed bin Salman told Bloomberg in October 2018 that Neom will be completed in 2025, and phase one is nearing completion.
  • Saudi Arabia is building a futuristic mega-city called Neom deep in a desert bordering the Red Sea.
  • The state has pledged at least $500 billion to make it happen, and is soliciting further investment.

Another good example of technological change is Electric Vehicles and Driverless vehicles both developing at a phenomenal rate, made possible by 5G. Experts predict that by as early as 2030 – that 95% of new car sales will be Electric Vehicles (EV) largely due to the development of solid state batteries when 1000 km range will become the norm, and charging time cut to 5 minutes (80 per cent). EV self driving cars will reduce the traffic volumes by 80% on the roads. Imagine the impact this will have on our how we live our lives. You will not own a car, you will order a driverless car for each occasion. A minicar for one person to go to work or an eight person vehicle for the family to go on an outing. Homes will no longer need garages. The vehicle that takes you to work will immediately be sent on another errand or to a Battery Recharge Station.

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What about robotics? Amazon already has a robotic warehouse. It operates 24 hours a day, seven days a week and for the most of the time it does not need the lights on. Robots make few order processing errors so the Customer Service Department was reduced dramatically.

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Robot restaurants are popping up all over downtown San Francisco, as a futuristic option for people to grab fast food for cheap. The latest example is Creator, a robotic restaurant that specializes in making gourmet hamburgers with their all-in-one burger robots. This video takes you behind-the-scenes of their appointment-only smart kitchen to learn more about how robots will be the future of food in urban cities. Why they say Robot restaurants won’t take your job is because without robots these restaurants would not exist because the owners could not afford the space needed nor pay the staff costs required for a restaurant using manual labour.

Blockchain technology is another big disrupter, its impact will be almost if not bigger than the internet. Blockchain technology will break the shackles of centralization and provide better options to end-users. At the core, blockchain is a decentralized, peer-to-peer ledger-based network where there is no central authority. It will take the middle man out of so many transactions across most sectors of industry (trade and finance) and government.

Another aspect of the Digital Revolution is digital money. Bitcoin is already mainstream but in addition China is set to launch the digital yuan latest 2022. America will not be far behind as they realise the digital yuan will give China an edge to challenge America as the dominant international currency.

Put all this radical exponential technological change together with Governments that are no longer able to govern wisely and we have Technochasm. The rich are getting richer and the middleclass and the poor are getting poorer. The young believe previous generations, particularly this generation have destroyed the planet to the extent it now threatens their existence. They are taking to the streets and to violence to effect change, anarchy and lawlessness is escalating. I believe the scene is being set for the prophesied Antichrist to step onto the stage, the strongman able to solve the worlds problems. However, Bible prophecy tells us we still have two significant middle east wars before the little horn (Antichrist) of Daniel 7 & 8 is revealed. Regardless, time is short, Christians need to get about our Master’s business to share the Gospel, the only good news for a world that is facing the wrath of God.

STOCK MARKET MADNESS

Chart of the Large-cap US Technology Companies. Why is it up 36% in the last two months?

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Christian DeHaemer is the founder of Bull and Bust Report and an editor at Energy and Capital. Christian says he has no idea. As he explains, rational thoughts no longer apply. There was a time when creating money out of thin air was bad, much less creating $6 trillion or 25% of GDP.  

There was a time when 30 million unemployed was bad. One might think a new cold war with your largest trading partner, China, might be bad for stocks. Not to mention, a hundred thousand new dead bodies packing the morgues. But no, it appears that these things are good for stocks. Our thinking has been all wrong. It seems we need more broken stuff and more money printing. Forgive all the student debt. Bailout the universities. Give $2,000 a month to all the folks. A trillion for the airlines –– billions for Ford, Hudson, and Studebaker –– more for Carnival Cruise Lines and Blackrock. Bailout Chicago, Detroit, and West Cucamonga. Heck, all those municipal employees are good hard-working people. People like money and the Fed can just print it! Let’s give the people what they want. It will be fine… 

Christian is right rational thought no longer applies and commonsense tells you the outcome can’t be good. More government control is certain and no longer is the prophesied end times, “Mark of the Beast” fanciful.

A WORLD IN CRISIS : BANKRUPT GOVERNMENTS PROMISING THE IMPOSSIBLE

Everyone needs to read the article “Energy Solution Hinges on New Technology” which appeared in The Weekend Australian, Saturday June 15th 2019 by Dr Bjorn Lomborg, president of the think tank Copenhagen Consensus Centre. He has been named one of TIME magazine’s 100 most influential people in the world. I have reproduced it below in an amended form.

The reality is, today, solar and wind energy together deliver only about 1 per cent of global energy. The International Energy Agency estimates that even by 2040 these will cover a little more than 4 per cent of global energy.

The idea that we already have the needed technology to phase out quickly from fossil fuels is nonsense, so before we can establish what the solution to climate change really looks like, we first need to dismantle the faulty idea that we have the solution already.

One of the world’s leading energy researchers, Czech-Canadian Vaclav Smil, has said:

The great hope for a quick and sweeping transition to renewable energy is wishful thinking.”

Former US vice-president Al Gore’s chief scientific adviser, Jim Hansen, who put global warming on the agenda back in 1988, agreed, saying:

Suggesting that renewable’s will let us phase rapidly off fossil fuels in the United States, China, India, or the world as a whole is almost the equivalent of believing in the Easter Bunny and Tooth Fairy.”

The recent “hoo-ha” or “brouhaha” by climate change activists, involving thousands of children skipping school to be involved in street protests in Australia, over the Adani Coal Mine, demonstrates that the belief that we already have the solutions is a delusion on a planetary scale. It may be comforting to tell ourselves that global warming is effectively solved. It’s dangerous because it leads to us taking at face value promises and vows that have no chance of being enacted. And it is reckless because it stops us from focusing on what we need to do instead.

If we do care to fix climate, we need to change course. This was clearly shown by 27 of the world’s top climate economists and three Nobel laureates who looked at the whole gamut of climate solutions for Copenhagen Consensus.

If we keep doing what we’ve done so far and make more promises to cut carbon in ineffective ways such as subsidising wind and solar, each dollar spent will avoid only 3c of climate damage.

Recently, the 10-year, $US10 billion public investment into shale gas in the US proved to be a great way to cut carbon. While it wasn’t intended as ­climate policy, it led the way for a surge in production of cheap gas, which out competed a significant part of US coal consumption. Because gas emits about half the CO2 of coal, the US has reduced emissions more than any other country in the past 10 years.

France has an extremely low level of carbon dioxide emissions per capita from electricity generation since over 90% of its electricity is nuclear (58 nuclear reactors) or hydro. Why isn’t nuclear on the table in other countries, particularly Australia with some of the biggest reserves of uranium ore?

Politicians across the world happily promise to emit net zero CO2 by 2050, knowing they will be long retired from politics when those vows are broken. Achieving this will be almost impossibly expensive, likely provoking “yellow vest” street riots long before their conclusion.

After New Zealand made its 2050 zero emissions promise, the government commissioned a report on the costs. The report found that achieving this goal in the most cost-effective manner would cost more than last year’s entire national budget on social security, welfare, health, education, police, courts, defence, environment and every other part of government combined. Each and every year.

UN Losing Credibility:

UN secretary-general ­Antonio Guterres is inviting all heads of state to New York next September to promise jointly to cut global emissions to zero by 2050. To see exactly how unrealistic this is, look at the UN Intergovernmental Panel on Climate Change’s five policy scenarios for the 21st century. The most optimistic “sustainable” scenario puts on green-tinted glasses to envisage a world in which the rich countries happily accept having their energy availability cut in half and people in the poor world accept they will never catch up even to half of rich-world energy availability.

We have a world in crisis with politicians living in “Lalaland”. To quote again, former US vice-president Al Gore’s chief scientific adviser, Jim Hansen “suggesting that renewable s will let us phase rapidly off fossil fuels in the United States, China, India, or the world as a whole is almost the equivalent of believing in the Easter Bunny and Tooth Fairy.”

Surely, for the Bible believing Christian, this is further evidence we are living in the prophesied end times prior to Jesus return to rule with a rod of iron for one thousand years, as revealed in Revelation 20.