Wednesday, June 21, 2017

Internet, Logistics, and Artificial Intelligence Changing the World

Plain and simple horseshit. Technology and labor trends are driving deflation. Amazon has made bookstores and most brick and mortar business obsolete and uncompetitive. The invisible hand responded appropriately by smashing the grocery stocks on the news of Amazon's acquisition of Whole Foods.

Tomorrow's jobs will be focused on the programming of logistics through GPS and artificial intelligence. We can no further stop these trends then we could the development of the railroad, automobile, or Internet. It won't be stopped by monetary policy either.

Headline: Amazon cutting prices at Whole Foods will not cause deflation

Amazon (AMZN) buying Whole Foods (WFM) seems like the only thing anyone can talk about right now.

This includes Federal Reserve officials.

On Tuesday, Chicago Fed president Charles Evans said in an interview with CNBC that, “In a world of global competition and new technology, I think competition is coming from new places. New partners are choosing to merge and sort of changing the marketplace and [bringing] more competitive pressures on price margins.”

Evans later noted the Amazon-Whole Foods merger by name, which analysts have speculated will come with grocery price cuts.



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