Khosla offered a calculation of the issue’s size and scope: “$15 trillion of U.S. GDP is labor,” he said, “$15 trillion that will mostly go away.” He framed this not as a catastrophe but as a structural transformation—a deflationary shock that conventional economists are not adequately modeling. “That’s a hugely deflationary economy,” Khosla said, adding that nobody is factoring that into their forecasts for the future. (Citrini called this “ghost GDP” and warned of a “deflationary spiral” with aftereffects far beyond the white-collar workforce, because “machines spend zero dollars on discretionary goods.”) But there is a good aspect of this kind of deflation, Khosla argued: abundance.
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Donald Trump has said he does not care whether Iran participate in this summer’s World Cup, which is being jointly hosted by the United States, Mexico and Canada. The US and Israel began attacking targets in the country on Saturday, with the conflict in the Middle East since spreading to the wider region.
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