{"id":5431,"date":"2015-02-08T09:15:59","date_gmt":"2015-02-08T14:15:59","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5431"},"modified":"2015-02-08T09:15:59","modified_gmt":"2015-02-08T14:15:59","slug":"anxiety-and-interest-rates-how-uncertainty-is-weighing-on-us","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5431","title":{"rendered":"Anxiety and Interest Rates: How Uncertainty Is Weighing on Us"},"content":{"rendered":"<h3 id=\"story-heading\" class=\"story-heading\"><a href=\"http:\/\/www.nytimes.com\/2015\/02\/08\/upshot\/anxiety-and-interest-rates-how-uncertainty-is-weighing-on-us.html?action=click&amp;pgtype=Homepage&amp;module=c-column-middle-span-region&amp;region=c-column-middle-span-region&amp;WT.nav=c-column-middle-span-region&amp;_r=0&amp;abt=0002&amp;abg=0\" target=\"_blank\">Anxiety and Interest Rates: How Uncertainty Is Weighing on Us<\/a><\/h3>\n<p id=\"story-continues-1\" class=\"story-body-text story-content\" data-para-count=\"94\" data-total-count=\"94\">Anxiety and uncertainty are weighing on individuals even where the overall economy is growing.<\/p>\n<p class=\"story-body-text story-content\" data-para-count=\"353\" data-total-count=\"447\">Some of this angst is the fallout from advances in information technology. The Internet, ubiquitous computing, robotics, 3-D printers and the like are wonderful advances, yet they may also be personal threats: For some, the technologies may eliminate our jobs or potential future jobs, or make them less lucrative. For others, they may bring new riches.<\/p>\n<p class=\"story-body-text story-content\" data-para-count=\"397\" data-total-count=\"844\">Even people with moderately high incomes have reason to be uncertain. Some college professors, tenured or not, might lose their jobs in the face of<a title=\"Times article.\" href=\"http:\/\/www.nytimes.com\/2012\/03\/05\/education\/moocs-large-courses-open-to-all-topple-campus-walls.html\">massive open online courses<\/a>, while others prosper from them. Lawyers might find less demand for services that can be supplanted by computerized legal research tools. News and entertainment media have already faced huge technology-related job losses.<\/p>\n<aside class=\"marginalia collection-marginalia collection collection-type-column collection-tone-news collection-section-business collection-theme-latest-headlines nocontent robots-nocontent\">\n<div class=\"nocontent robots-nocontent\">\n<header>\n<div class=\"collection-meta\">\n<div class=\"follow-button-placeholder\" data-collection-id=\"column.economic-view\">\u00a0Along with this enormous problem is the psychic cost of growing income inequality. Poor people, who see themselves slipping further and further behind, are hurting, of course. What\u2019s less obvious is that yawning inequality also seems to be preoccupying the rich. For example, an\u00a0<a href=\"http:\/\/www.oxfam.org\/\">Oxfam<\/a>report issued last month, \u201c<a href=\"http:\/\/www.oxfam.org\/en\/pressroom\/pressreleases\/2015-01-19\/richest-1-will-own-more-all-rest-2016\">Richest 1 Percent Will Own More Than All the Rest by 2016<\/a>,\u201d was the focus of many nervous conversations at the recent World Economic Forum in Davos, Switzerland, which I attended. Davos is a gathering of the global elite yet even many of those in such rarefied circles are wondering whether they and their friends and loved ones will lose their privileged status in the future.<\/div>\n<\/div>\n<\/header>\n<\/div>\n<\/aside>\n<p class=\"story-body-text story-content\" data-para-count=\"321\" data-total-count=\"1860\">Such fears are not measured by the usual consumer confidence indexes. The University of Michigan Consumer Sentiment Index reached its\u00a0<a href=\"http:\/\/www.nytimes.com\/aponline\/2015\/01\/30\/us\/politics\/ap-us-us-consumer-sentiment.html?_r=0\">highest level since 2004<\/a>\u00a0in January. But this index, and others like it, look ahead only into the short term and report about perceived aggregate conditions rather than individual risks.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anxiety and Interest Rates: How Uncertainty Is Weighing on Us Anxiety and uncertainty are weighing on individuals even where the overall economy is growing. Some of this angst is the fallout from advances in information technology. The Internet, ubiquitous computing, robotics, 3-D printers and the like are wonderful advances, yet they may also be personal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,7],"tags":[3334,1918,260,2329,431,3335,824],"class_list":["post-5431","post","type-post","status-publish","format-standard","hentry","category-economics","category-survival-2","tag-anxiety","tag-consumer-confidence","tag-employment","tag-income-inequality","tag-interest-rates","tag-uncertainty","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5431"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5431\/revisions"}],"predecessor-version":[{"id":5432,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5431\/revisions\/5432"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}