New York Post

Artificial intelligence could render many jobs such as cashiers and drivers obsolete — leading to widespread social unrest, according to a senior Wall Street finance executive.

Armen Panossian, a co-CEO of the Los Angeles-based investment firm Oaktree Capital Management, told Bloomberg News that AI poses “the biggest risk” because while it “clearly has the potential for very large economic gains,” it will also have “societal impacts.”

“Millions of people could be out of jobs. So who’s going to retrain those people?” Panossian told Bloomberg News.

“If we don’t figure that out, there could be social unrest.”



I asked AI to help with dinner and...

Top Wall Street exec predicts ‘social unrest’ due to AI: ‘Millions of people could be out of jobs’

TheStreet

Here's what may happen to interest rates in 2025 and 2026.

Morgan Stanley analysts reveal Fed interest rate outlook

Markets Insider

Bank of America's Michael Hartnett isn't very optimistic about the future of the US economy and stock market.

'Sell the first rate cut': Bank of America's top global strategist warns stocks could be in for trouble as the economy heads toward a hard landing and the Fed gets set to slash rates

Veteran investor David Roche expects a bear market in 2025, caused by smaller-than-expected rate cuts, a slowing U.S. economy and an AI bubble. Those factors could cause a bear market of minus 20% in 2025, maybe starting at the end of this year, but the Fed will have room to adjust, he added.

Bear market is coming in 2025, warns David Roche, but the Fed will step in before it turns 'draconian'

The Federal Reserve risks prematurely cutting interest rates right as the US economy is poised to reaccelerate, Jim Bianco told CNBC. "The reason I suspect that we're going to have zero rate cuts is I don't think they're warranted. The economy is continuing to move along just fine," the Bianco Research president said on Friday, adding: "I suspect there'll be a second-half rebound."

The Fed shouldn't cut rates at all this year as the US is poised for a 2nd half rebound, macro strategist says

A "record-breaking backlog" of pending actions has led to an estimated $1.1 billion in improper beneficiary payments, according to a new report. Experts say the Social Security Administration needs more funding in its budget to properly address a "customer service crisis." The Social Security Administration faces a "record-breaking backlog" of...

'Record-breaking backlog' leads to $1.1 billion in improper Social Security payments, report finds

South Carolina State

Community Voices represent independent, third-party users who have joined our contributor program but not yet verified their accounts. Community Voices are expected, like all users, to adhere to our Community Standards.

community_voice

Los Angeles County, CA

Herbie J Pilato

In 1981, pop-music sensation Andy Gibb was at the top of the charts. The younger brother of Barry, Robin, and Maurice, a.k.a. The Bee Gees, commenced a tumultuous romance with actress Victoria Principle, who played Pam Ewing on Dallas, TV's then-Number 1 prime-time series. But after the relationship ended, Andy's life, already challenged by substance abuse, did as well. This is their tragic story.

The Tragic Death of Pop Star Andy Gibb & His Traumatic Romance with 'Dallas' Star Victoria Principle

Trailer Empire

The bond market has been buoyed by the Federal Reserve's recent hints that a rate cut may be on the horizon this September, leading to a noticeable drop in mortgage rates. Investors are reacting to the Fed's subtle language changes, anticipating a potential shift in monetary policy.

Mortgage Rates Plunge as Fed Signals Potential September Rate Cut

Louisiana State

California State

Local officials and advocates in California are divided over Gov. Gavin Newsom's recent executive order requiring state agencies to remove homeless encampments on public property, leaving the homeless community caught in the middle and uncertain where they will go. In June, the Supreme Court ruled that punishing homeless people for...

'It’s mayhem and craziness': Californians react to Gavin Newsom’s order to remove homeless encampments

Nader Itayim, Middle East Gulf editor at Argus Media, discusses the Joint Comprehensive Plan of Action and says "trust levels have changed" on both sides.

Argus Media editor: Iran nuclear deal as we know it is long gone

The Guardian

Cracks in labour market provide Trump with evidence for his message that Biden has been disaster for the economy

Warning signs of US recession may be bad news for Kamala Harris

Colorado State

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Students and their families, along with college financial aid administrators, hoped the 2025-26 school year would be a return to normalcy. It doesn't look like that will be the case. The Department of Education announced the 2025-26 Free Application for Federal Student Aid won't be available for everyone on Oct....

FAFSA delays will keep plaguing students for 2025-26 school year—how to maximize your chances of getting financial aid

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

J. Souza

A retired military officer who had been struggling with post-traumatic stress disorder (PTSD) tragically died after jumping from the world’s largest cruise ship last month, authorities confirmed.

Cruise Passenger Who Jumped from World's Largest Ship After Dispute Suffered with PTSD

The four largest banks in the US now believe the Federal Reserve is about to cut interest rates amid rising recession fears. A Bank of America economist says a September Fed rate cut is a “virtual lock” following last week’s $6.4 trillion global stock market rout, reports Business Times.

JPMorgan Chase, Bank of America, Wells Fargo and Citi Predict Abrupt Fed Rate Cuts Amid Global Market Turbulence: Reports

Canada’s Scotiabank, one of the country’s big six lenders, announced Monday that it bought a 14.9% stake in US regional lender KeyCorp. After years of misadventures in Latin America, big Canadian banks like Scotiabank are pivoting to their neighbor, where they’re beginning to enjoy some success. Moving...

Canada’s Scotiabank Stakes Out $2.8 Billion in US Lender KeyCorp

Florida State

Jacksonville Today

Republican Donald Trump has a 7-point lead over Democrat Kamala Harris among Florida voters, 49% to 42%, according to a new poll from the University of North Florida. Four percent are backing another candidate, and 6% are undecided or didn’t answer.

New Florida poll: Trump leads; support strong for abortion and recreational weed

Uncovering Florida

Most people are guilty of doing it at least once in their lives, many people do it by accident, some do it because they find it fun, and others do it for reasons like honoring loved ones. Regardless of the situation, just about everyone has released a balloon. The difference is that intentionally releasing balloons is now illegal by House Bill 321’s standards.

Law Signed By DeSantis Makes It Illegal To Release Balloons In Florida

The Hill

Former President Trump on Sunday night appeared to gloat in response to the global market sell-off and suggested his Democratic rivals were to blame. “STOCK MARKETS CRASHING. I TOLD YOU SO!!! KAMALA DOESN’T HAVE A CLUE. BIDEN IS SOUND ASLEEP. ALL CAUSED BY INEPT U.S. LEADERSHIP!” Trump wrote on his Truth Social platform late Sunday night.

Trump reacts to global stock-market sell-off: ‘I told you so!!!’

Denver, CO

In addition to collecting more than 8,000 used needles in the past year from Denver drug users, the Harm Reduction Action Center passed out 10,000 meth pipes and “snort kits,” according to a newsletter sent to its supporters Thursday. They also connected about 1,700 people to medical, mental health and substance abuse treatment.

Denver group hands out 10K meth pipes, ‘snort kits,’ connects 1,700 to treatment annually

NewsBreak

The Fed might be slightly behind, could jump in with a 50bps cut, says RockCreek's Afsaneh Beschloss

Afsaneh Beschloss, RockCreek Group Founder & CEO,...

The Fed might be slightly behind, could jump in with a 50bps cut, says RockCreek's Afsaneh Beschloss

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