Mortgage Interest Rates Review
Boom in AI Carries Hidden Economic Risk.
AI 붐 뒤에 숨은 경제 위험…
WSJ 8/5/25(Tue)
- A more unsettling side to the AI boom emerges. All the spending on chips, data centers and other AI infrastructure is draining American corporations of cash.
- Since the first quarter of 2023, investment in information processing equipment has expanded 23%, after inflation, while total gross domestic product has expanded just 6%. In the first half of the year, information processing investment contributed more than half the sluggish 1.2% overall growth rate. In effect, AI spending propped up the economy while consumer spending stagnated.
- Much of that investment consists of the graphics-processing units, memory chips, servers and networking gear to train and run the large language models at the heart of the boom. And all that computing power needs buildings, land and power generation.
AI Is Killing The Entry-Level Job
AI가 초임자들 Job을 위협
WSJ 7/31/25(Thu)
- At Chicago recruiting firm Hirewell, marketing agency clients have all but stopped requesting entry-level staff— young grads once in high demand but whose work is now a “home run” for AI, the firm’s chief growth officer said. Dating app Grindr is hiring more seasoned engineers, forgoing some junior coders straight out of school, and CEO George Arison said companies are “going to need less and less people at the bottom.”
- Bill Balderaz, CEO of Columbus- based consulting firm Futurety, said he decided not to hire a summer intern this year, opting to run social-media copy through ChatGPT instead.
- Balderaz has urged his own kids to focus on jobs that require people skills and can’t easily be automated. One is becoming a police officer.
- AI is accelerating trends that were already under way. Now, they want candidates who are familiar with how AI “agents” can automate certain tasks on behalf of humans— or “agentic workflows” in the new vernacular.
This Firing Could Burn Finances.
이번 퇴출이 주는 금융에 미치는 위험
WSJ 8/5/25(Tue)
- The commissioner of Bureau of Labor Statistics got loudly fired fired by Trump who was unhappy on the Friday jobs report showing hiring had slowed much less in May and June that previously estimated.
- Markets’ muted reaction to Friday’s firing of the Bureau of Labor Statistics Commissioner might be missing the potential gravity of the situation. Just as threats to fire Fed Chair Powell have sent markets careening recently, her sacking, and hints over the weekend of more changes, should give investors pause.
- A president is entitled to have “his own people” in cabinet posts, but some government roles are best left to those neither he nor the public have ever heard of. Ms. McEntarfer’s 15 minutes of fame could have surprisingly painful ripple effects.
Monthly change in nonfarm payrolls
Economy Returns to Growth.
다시 경제 성장세로
WSJ 7/31/25(Thu)
- The U.S. economy is growing again, largely because of trade swings and as American consumers keep spending. There are also signs of caution.
- The Commerce Department said U.S. gross domestic product— the value of all goods and services produced across the economy—rose at a seasonally and inflation adjusted 3% annual rate in the second quarter. That is up from a 0.5% contraction in the first quarter.
- Taken together, the two quarters show an economy that is growing, but more slowly. GDP grew at an average annual rate of 1.2% in the first six months this year, a step down from the 2.5% average pace in 2024.
- “Businesses are very cautious— they don’t know the road map and so they’re driving in the right lane very slowly,” said U.S. Bank chief economist Beth Ann Bovino.
U.S.GDP, change from previous quarter
