New KFC Restaurant Is Run Entirely By Robots
By Tyler Durden
First McDonalds, then Wendy’s, soon Carl’s Jr., and now KFC. The minimum-wage-driven automation of the lower-end of the workforce is accelerating…
Submitted by Nick Bernabe via TheAntiMedia.org,
Colonel Sanders is raising a robot army to serve fried chicken at a restaurant near you. KFC’s first automated restaurant, called Original+, went live in Shanghai on April 25th, complete with an artificially intelligent robot manager named “Du Mi” who works at the front counter.
According to Chinese news outlet Sohu, “‘Du Mi’ marks the first commercial use of artificial intelligence in the fast food industry. The artificial intelligence robot was launched by China’s leading web services company Baidu during its World Conference in 2015.”
(Interior view of the KFC store in Shanghai…doesn’t look much like the local KFC here)
KFC hopes that the hip new automated restaurant will attract young customers with its free wireless phone charging stations and human-less eating experience.
But it’s not just KFC, and it’s not just China where automation, robots, and artificial intelligence is taking the place of human workers. If and when these automated restaurants gain traction in places like China, they are sure to be implemented in the U.S., as well. In fact, they already are — though to a lesser extent, for now. McDonald’s and other food chains are experimenting with digital kiosks similar to the self-checkout machines already found in many grocery stores.
KFC’s Original+ kiosk.
In fact, as we covered recently at Anti-Media, automation is set to replace human jobs across broad sectors of the U.S. and world economies:
“[T]he Bank of England is preparing for automation to shed 80 million American jobs and 15 million British jobs within the next 10 to 20 years. This is approximately 50% of the U.S. and British workforce. Forbes has put the number at 45%.”
The ongoing debate surrounding robots, A.I., and automation displacing human workers is a delicate yet very important one. Many experts, including Stephen Hawking, have warned of the dangers of monopolistic artificial intelligence while others believe with the right direction from people, robots and technology can liberate humanity from manual labor.
The inevitable automation of the world’s economy will reshape society as we know it. Minimum wages will no longer protect workers as employers shift to using robots who will never ask for breaks, pay, raises, or healthcare. Worker unions may essentially be rendered useless. Militaries will eventually no longer need humans to fight wars. Additionally, Uber, Lyft, taxi and limousine drivers, and other driving jobs could soon be replaced by self-driving cars as automation also changes the way we think about transportation altogether.
Automation is loved, feared, and hated by many, but only time will tell how it will change our lives — for better or worse.
Mark Cuban: Would have been ‘fun’ to run against Trump
Mark Cuban says he was recently recruited to run for president against Donald Trump, but he believes “it’s too late” to enter the race. …read more
Source: Mark Cuban: Would have been ‘fun’ to run against Trump
You Know Those Missing Hillary Emails? Russia Might Leak 20,000 Of Them
By Tyler Durden
Submitted by Claire Bernish via TheAntiMedia.org,
Hillary Clinton sits at the center of a raging firestorm concerning her arrangement of a private email account and server set up in her home — from which top secret information may have been deleted. But despite Bernie Sanders’ apparent annoyance with the “damn emails,” the scandal just exponentially intensified, when Judge Andrew Napolitano revealed on Monday that Russia has possession of around 20,000 of Clinton’s emails — leaving open the possibility her deletions might not have been permanent after all.
“There’s a debate going on in the Kremlin between the Foreign Ministry and the Intelligence Services about whether they should release the 20,000 of Mrs. Clinton’s emails that they have hacked into,” Napolitano told Fox News‘ Megyn Kelly in an interview for The Kelly File.
With Clinton’s repeated claims she employed the personal email server only for mundane communications and non-sensitive State matters having been proven outright lies, the deletions of 31,830 emails — in the new context of Napolitano’s statement — have suddenly become remarkably relevant.
As the FBI investigation of Hillary Clinton’s questionable email practices deepens, the question of who had access to what information previously located on the former secretary of state’s server is now more critical than ever.
One such individual, Romanian hacker Guccifer, who was abruptly extradited to the United States, revealed he had easily and repeatedly accessed Clinton’s personal server — and he wasn’t the only one.
“For me, it was easy,” the hacker, whose given name is Marcel Lehel Lazar, exclusively told Fox News; “easy for me, for everybody.”
If Guccifer and Napolitano are right, Russia may, indeed, have possession of highly-sensitive information courtesy of Clinton’s arrogant failure to adhere to the obligation to use a government email account during her tenure as secretary — a situation worsened by the now-mendacious claim no sensitive information had been sent through the personal account.
In fact, if Guccifer is to be believed — as his extradition by the U.S. indicates — news of the Kremlin having obtained potentially top-secret material may be the tip of a gargantuan iceberg. Using a readily available program, the Romanian hacker also claimed he observed “up to 10, like, IPs from other parts of the world” during sessions on Clinton’s personal server. If just one of those unknown parties was connected to Russia, who the other nine might be could be central to the FBI’s decision whether or not to charge Clinton for mishandling classified information.
Adding yet another nail in the coffin case against Hillary on Thursday, the Hill reported conservative watchdog Judicial Watch revealed, pursuant to a Freedom of Information Act request, frustration with technical difficulties in obtaining a secure phone line led the secretary to direct a top aide to abandon the effort and call her without the necessary security in place.
“I give up. Call me on my home [number],” Clinton wrote in a February 2009 email from the newly-released …read more
Source: You Know Those Missing Hillary Emails? Russia Might Leak 20,000 Of Them
Liquidity Problems? Deutsche Bank Offers 5% Yields If Depositors Lock Up Their Money For Three Months
By Tyler Durden
One of the reasons why central banks around the globe have flooded the financial system with trillions in excess reserves is to make sure that banks no longer have to rely on potentially fleeting short term deposits (and is also why negative interest rates have become the norm in so many part of the world, that $10 trillion in bills and bonds now trade with a negative yield). As a result of years of such central bank policy, banks – mostly in Europe – no longer need to compete with each other for deposits: after all why offer tempting deposit rates in an age of NIRP when banks can get all the liquidity they need straight from the ECB and in some cases even get paid on it.
Furthermore, the whole point of NIRP is to slowly unleash negative, not positive, interest rates in order to discourage savings.
Which is why we were surprised to find that in a promotional offer by Europe’s biggest, and by many accounts most insolvent, bank, Germany’s Deutsche Bank is not only not rushing to penalize depositors, on the contrary it is offering its Belgian clients a 5% gross return for new €10,000 – €50,000 deposits if this money is locked up for the next three months. The offer is only valid for the next 40 days, until June 24.
Why the offer? All else equal it would appear as if Deutsche Bank suddenly needs liquidity quite urgently (but only enough per person so that in a worst case scenario the amount is fully insured by the government) with a 3 month lock up; so urgently it is willing to pay sn interest which is higher than on some European junk bonds.
It begs the question: how is it that DB can’t get a far, far cheaper deal in the bond market, or using short-term unsecured funds?
Here is Deutsche Bank’s offer to Belgian clients to open a DB Invest Plus account (google translated):
Open a term account and get 5% gross annual Deutsche Bank will always offer the best offer on the market. Therefore, you can now 3 months 5% gross annualized receive when you open a DB Invest Plus deposit account.
An excellent opportunity to increase your returns
Deutsche Bank, you may be demanding for money. Proof? Stop by one of our Financial Centers. You now get a clear 3 months 5% gross per annum for new amounts from 10,000 to 50,000 euros, if you go for June 24, 2016 opens a DB Invest Plus deposit account (subject to early closing).
Please note that this promotion is only valid for the injection of fresh money, ie amounts previously never been in an account with Deutsche Bank AG Branch Brussels were (between 10,000 and 50,000 euros per person and per family and only at the Financial Centers Deutsche Bank AG Branch Brussels. offer reserved for Belgian residents).
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The ECB Met With Goldman, Other Banks At Shanghai G-20 Meeting, Allegedly Leaking March Stimulus
By Tyler Durden
On May 18, 2015, the ECB’s Benoit Coeure held a closed-door speech under “Chatham House” rules in which he leaked to an audience of hedge funds in London that “the central bank would moderately front-load its purchases in its quantitative easing program because of the seasonal lack of market liquidity in the summer.” The reaction was an instant 50 pips drop in EURUSD as one or more funds decided to ignore the “rules”, and promptly traded on the material, market moving leak.
The problem for the ECB is that it had just disclosed material, non-public, was inside information to a group of market professionals fully aware they would trade on the news. It wasn’t released to the trading public until around 8am the next day (London time) when it resulted in a further 150 pip plunge. This, for lack of a better word, was criminal.
As egregious as this obviously was, it didn’t surprise us or anyone else familiar with the relationship between policymakers and those who essentially gamble on policy decisions, aka the commercial banks who own the central banks. Indeed, it was simply another example of nefarious intermingling between central planners and a select group of private sector operators and came just as Jeb Hensarling began to turn up the heat on Janet Yellen regarding leaked Fed data (an investigation that has gone precisely nowhere).
To be sure, once caught leaking market moving data to a select group of billionaires, just a few days later the ECB blamed the fiasco on an “internal procedural error” and promised such behind the scenes meetings with hedge funds profiting from ECB leaks would not happen again.
It happened just a few months later when as the FT reported in November “some of the European Central Bank’s top decision-makers met banks and asset managers days before major policy decisions, and on one occasion just hours before, copies of their diaries reveal.”
The diaries show two members of the ECB’s executive board, Benoît Cœuré and Yves Mersch, met UBS bank the day before a two-day policy meeting of the central bank’s rate-setting governing council on September 3 and 4 2014. Mr Cœuré also met BNP Paribas bank on the morning of September 4, the day the ECB’s governing council surprised markets by cutting interest rates. It also announced it would begin buying private sector assets to save the eurozone’s economy from the threat of deflation. UBS and BNP Paribas declined to comment.
It would appear that when it comes to leaking ECB data, Benoit Couere is the designated middleman whose only job is to notify commercial banks of top secret ECB decisions. Of course, the ECB was troubled by these recurring allegations, and said that “officials never discuss market-sensitive information in private meetings. “The quiet period refers to public communication ahead of monetary policy governing council meetings. The same underlying principles — guarding against signalling future monetary policy — are of course applied to bilateral meetings. In any case, no …read more
Source: The ECB Met With Goldman, Other Banks At Shanghai G-20 Meeting, Allegedly Leaking March Stimulus
Meet Donald Trump’s Chinese Fan Club
By Tyler Durden
For the duration of Donald Trump’s campaign trail right after Hillary Clinton, China has been the go-to “punching bag.” Earlier this month, the presumptive Republican nominee went as far as describing China’s trade relationship with the U.S. as “rape” and has repeatedly said China is stealing U.S. jobs. Curiously, despite Trump’s relentless criticism of China, it is here that the republican candidate is building a small but rapidly growing fan base who see beyond the bluster (while loathing what Hillary Clinton stands for). Fans such as Gu Yu, “a young technology entrepreneur, likes his blunt, no-punches-held approach.”
“I think Donald Trump has the guts to say things that normal people in the rest of society fear to say,” said Gu. He says he is 100% supportive of Trump, and even though he can’t cast a ballot, he says the Americans that can should trust Trump. In a moment of surprising lucidity, Gu said that “I think political correctness covers up problems instead of solving them.” He is absolutely correct.
Gu is part of a small but vocal group of Chinese fans of the presumptive GOP nominee. Online they have formed small groups on Chinese social media site Weibo, with names like “Donald J Trump Superfans Nation.”
According to CNN, one social media user wrote, “Hillary Clinton just makes empty promises, while Trump is the King of doing what he says.” Another calls him “honest, sharp, pragmatic, and stylish.” One person even said they’d vote for him because he is “so handsome.”
Even more curious is that Trump who repeatedly bashed China is starting to grow a cult following, Hillary who has been far more tempered and respectful in her policy stance on China, if faring far worse.
One often quoted comment from Chinese social media platform Weibo recalls her husband’s public infidelity: “If she can’t manage her husband, how can she manage America?” And Sima Nan, a television pundit sometimes described as China’s Bill O’Reilly, openly calls her a “crazy old woman.”
To be sure, when it comes to Trump, the opinions of fans like Gu aren’t always shared by China’s official state media for obvious reasons. In March, the state-run newspaper The Global Times called Trump a “rich narcissist, and a clown” and said “the rise of a racist … worries the whole world.”
However, in yet anotehr curious twist, an online poll by the same paper did suggest that 54% of Chinese would vote in favor of the U.S. billionaire.
China’s foreign ministry spokesperson, when recently asked about Trump’s candidacy, urged people to take a rational and objective view of the relationship between the two countries.
But what is most surprising, is that unlike many in the US, Trump’s China fanclub sees through the bluster. Gu dismisses Trump’s anti-China rhetoric as political theater, and says he’ll tone it down should he be elected.
“I think normal people will be like goldfish and have three-second memories,” said Gu. “Three months after the election, no one will remember …read more
Source: Meet Donald Trump’s Chinese Fan Club
Sheryl Sandberg talks about her husband’s death for the first time
Sheryl Sandberg spoke publicly for the first time about her husband’s sudden death, which changed her profoundly and inspired her to become more grateful.
…read more
Source: Sheryl Sandberg talks about her husband’s death for the first time
Economic Collapse Logistics For The Government
By Tyler Durden
Submitted by Tom Chatham via Project Chesapeake blog,
When a national currency collapses, the government goes into survival mode and does what is necessary to insure its continued existence. The state power becomes all important and citizens become expendable. The state exists for it’s own fulfillment.
When the monetary system collapses along with the banks, the government will still need a way to pay government employees to insure they continue enforcing the governments will. If all government employees suddenly decided to stay home the few officials that remained at their desk would be ordering 300 million people around with no way to enforce their orders. To maintain control of the population it is necessary for government minions to continue doing their job of enforcement.
This means the government would need the means to continue fulfilling the needs of government employees to insure their compliance and obedience. As long as people get the things they need to survive day to day they will continue to do as ordered to continue that supply.
The government would need to insure that a payment system and banking system would remain functioning after a collapse. The banking system may not look like the current one but something would have to take it’s place. Once the currency has failed it would be necessary for the government to issue a new currency. It may not be accepted by the majority but it is only necessary for it to be accepted by the government minions. This would allow the government to remain in control.
If the government employees know they will still be able to get food, clothing, gas and other items they need when normal citizens cannot, they will be inclined to stay on the job and do the governments bidding in order to maintain their standard of living. This would be a necessary control mechanism in the event of a collapse.
Once the banks collapse along with the currency, the FED could take over any bank branches necessary under the control of the Fed and issue the new currency through them. There may be some form of physical currency or it could be digital. Either way the government would have control over who gets any in the beginning.
The government would likely confiscate any resources it needed to fill “government stores” for the purpose of supplying government employees. The rest of the population would be left to get by on their own. In this event EO 13603 becomes more clear as the mechanism to take whatever the government needs to fill these stores and keep their people supplied. In a collapse physical goods become the only thing that matters.
Those that have the things government needs will likely be sent to camps and their property taken for government use. Those with special skills that are needed to continue the supply functions would fall under the control of government agencies and be subject to internment if they fail to do their jobs. Once government has control of critical infrastructure they can let the …read more
Source: Economic Collapse Logistics For The Government
Total US Debt Is Back To Its Great Depression Peak
By Tyler Durden
Long before McKinsey released its 2015 report which showed that, contrary to repeated, erroneous analysis and propaganda media reports, not only has the world not deleveraged at all but has added some $60 trillion in debt since the crisis (a number which mostly thanks to China is about $5 trillion higher over the past year) we warned that the primary reason why the world is unable to grow is because of an unprecedented mountain of debt that keeps growing. In fact, since the growth – and monetization – of debt by central banks is the critical precondition to keeping asset prices artificially inflated, it was also the case that global debt would keep rising indefinitely, at least until such time as the world finally hits its credit limit, a critical topic discussed extensively by Citigroup’s Matt King in October of 2015.
Which leads to the question: based on historical analysis just where is the debt capacity for the world’s biggest creditor, the United States, and what happens when said capacity is hit.
The following chart from Citi shows the last century of US non-financial leverage in context. As of this moment, consolidated US non-fin debt/GDP is about 275%, or roughly where it was US when the great depression stuck.
For those curious about the “tipping point” threshold levels, keep an eye on 300% – that’s when the system collapsed last time leading to a devastated economy.
The second question: what happened next to unleash the greatest deleveraging in the history of the US? Why World War II of course.
Finally, on the role of debt, here is the simplest explanation we have read since opening a finance 101 textbook.
Source: Total US Debt Is Back To Its Great Depression Peak
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