Exploring Hydrocarbon Depletion
NEW! Members Only Forums!
Access more articles, news & discussion by becoming a PeakOil.com Member.
QUOTE O’ THE DAY
"All we can do is analyze, aggregate, and synthesize bad news.
dsula wrote:eveything done by automata, leaving 100% leasure time for everybody to enjoy.
LONDON/SINGAPORE — The world’s major economies are faltering or shrinking, with Chinese factory output barely growing, powerful European manufacturing countries falling deeper into malaise and the U.S. job market stuttering, surveys showed on Friday.
In Britain, manufacturing activity shrank at its fastest pace in three years last month as the global economic slowdown hit demand for its goods.
“It doesn’t bode well for the second quarter,” said Sian Fenner, global macroeconomist at Lloyds Banking Group. “There is a lot of heightened uncertainty and risk in the market in the euro area, and this is playing on manufacturers’ minds.
Data on Friday, however, added to signs the U.S. recovery may also be faltering, deepening a stock market sell-off this week due largely to growing panic over the euro zone’s debt crisis.
U.S. employers added just 69,000 jobs in May – half as many as expected and the least in a year – while figures for the previous two months were also revised down. That will add to President Barack Obama’s headaches and strengthen the case for another round of stimulus from the Federal Reserve.
Equities, the euro, sterling and growth-linked currencies all fell after the gloomy data, although most then showed some signs of recovery as traders began to shut up shop for the weekend.
Markit’s Eurozone Manufacturing Purchasing Managers’ Index (PMI) dropped to 45.1 in May from 45.9 in April, slightly above a preliminary reading but marking its lowest level since June 2009.
It has been below the 50 mark that divides growth from contraction for 10 months. Similarly the output index fell to 44.6 from April’s 46.1, also the lowest since June 2009.
dsula wrote: Isn't the goal to have 0% employment, and have eveything done by automata, leaving 100% leasure time for everybody to enjoy.
eXpat wrote:Unless of course you believe that we are now living in Utopia and that all hard work is done by robots, while humans can expend time in philosophy and arts.
Fixed that for you. It's disgusting down there, all dirty pizza boxes, cigarettes evenAgentR11 wrote:Automata is only automata for as long as you don't open the door to the server sewer room and let the code & admin monkeys out.
You have to take that up with the ones holding the check book and the guns.dsula wrote:eXpat wrote:Unless of course you believe that we are now living in Utopia and that all hard work is done by robots, while humans can expend time in philosophy and arts.
Yes, that is what I'm referring to. What is the goal of life? What's the reason for technology and inovation? Isn't the reason to get more with less work? Or to consume more with the same amount of work? Isn't the absolute end-goal to work NOTHING, but to consume EVERYTHING?
Sometimes I wonder why I have to work so much. With the gains in productivity (due to oil) I should be able to afford a life like a 19th century english nobleman with 2 hours of work/day. But that's not the case. Why not?
Users browsing this forum: No registered users and 19 guests