[LINK] ICT vs the Economy vs Recession vs Y & Z Generations lack of Productivity.

[tomk]

If anyone genuinely believes that the global economy can be fixed by 
increased ICT,  then they need to consider why we are having a recession 
in the first place.

We are told that it was the sub-prime mortgage market.
The sub-prime mortgage market was kept vibrant by consistent new entrants.
Remove the new sign-ups and the commission structure fails, the brokers 
panic and voila - CRASH.

Could the GFC have occurred because of ICT ?

e.g.: (Short selling being accelerated by supercomputers being cooled by 
nitrogen to increase TPS capabilities.)
or;
ICT allows our kids to meet and greet online.
On Trains and buses, heads are down, therefore missing the casual glance 
of interest that used to occur before the advent of the smartphone.

The upshot is that the kids stay home....

Let's work out the cost of that to Australia.
Our fertility rate (in a predominantly hetero-sexual based environment) 
tells us that every year we need to build about 231,000 new homes with 
the associated infrastructure, white goods, pot plants,  cutlery etc.
In fact using mortgage based funding options, credit cards (both the new 
couples and their in-laws) - the economy receives an annual boost of 
around 111 billion dollars annually (in debt and instruments).

But what happens when ICT stops them.
They're so busy playing PS-3 games in their bedrooms, looking down at 
their facebook updates, that life passes them by and they wind up 
staying at home, allowing mum to wait on them hand and foot.

Lets ask the Government to kick the kids out of home by age 23. Lets get 
the economy moving again.

TomK