Episode 49: The Economy Doesn't Need a Terminator to Break Because of AI

A paper claims the top 20% of earners drive nearly 60% of U.S. consumer spending. Matt checked. Moody's puts the top 10% closer to 49%, and the paper hasn't been peer reviewed. That still matters. The paper's real argument is uncomfortable: banks, mortgages, and consumer spending all assume white-collar thinking stays scarce and well paid. Remove that, and nothing has to become superintelligent for things to break. Then Jason and Matt split. Jason says AI efficiency drags prices down, and a 30% pay cut stings less if living costs fall by half. Matt says prices rise. When buyer agents and seller agents negotiate, prices go up because they can. Jason calls that collusion, and unlikely. Matt asks whether AI is the jet engine or just a bigger airplane. Jason's answer: neither. It's flight itself. The author's own conclusion: these are policy choices, not technological inevitabilities. The risk isn't AI failing. It's what breaks when it works. Listen on Spotify, YouTube, Apple Podcasts, or Amazon Podcasts. Read the Paper Here: https://arxiv.org/pdf/2603.09209 #AIDiatribe #MattKonwiser #JasonLowe #AgenticAI #AIAgents #Macroeconomics #ConsumerSpending #WhiteCollarJobs #Deflation #AI #Economics #Podcast