By Ramy Taraboulsi, CFA, Apr. 18, 2023 6:07 PM ET
The singularity is not here yet, but it will arrive very soon. The economic impact of the singularity may be devastating unless governments and central banks do something about it. Nothing is currently being done to prepare for the arrival of the singularity. To survive the arrival of the singularity, companies need to have certain characteristics.
Why am I writing this article?
A few weeks ago, I listened attentively to the FOMC press conference of Chairman Jerome Powell. I was surprised that the issue of the layoffs in high-tech companies did not take central stage in the questions or in his introductory remarks. This prompted me to research this topic and share the result of my research.
There are many events that are now happening, and the occurrence of these events can be explained with only one thing: The singularity is almost Here.
I will start by explaining what the singularity is before talking about the events that are leading me to believe that we are on the crisp of stumbling upon the singularity. The article then addresses the effects of the singularity on our economy and how the central banks and governments need to prepare for its arrival.