Dr. Mark Khater

And that's because of the nature of those two things.

So I think, you know, that's where I kind of see Europe in the United Kingdom.

Will that mean that they fall behind in the race with China and the United States?

Probably, probably.

Actually, now I have to say there's a positive thing I see already because people are not happy with AI, let's say, and they look for the regulators.

They look that people should regulate, and even in the U.S.

there seems to be a tendency now.

And it comes back to university and science and the people thinking deeply about it.

So I think in the whole thing I see a positive development there.

I mean, look, you're an economist and you've probably caught on to this problem as well.

Now, artificial intelligence will lead to amazing new products being created, probably much cheaper.

An amazing thing.

But a big part of why it is cheaper is because we're laying off a lot of the humans that make it.

And obviously, explaining it simply, and of course, you know better than I do, that once those human beings that were creating those products sit at home, they no longer have purchasing power.

And when they don't have purchasing power, then we're producing a lot of things that people can't buy.

And when that starts to happen immediately, that boom becomes a bust.

And as that impacts everything from taxation to the income of individuals, to inflation, to stagflation, you know, you've got a really terrible sequence going on.

And then also when a lot of those people not getting the jobs are youngsters and

then you start creating a terrible situation in society.

You start getting very unstable societies of young people that can't find jobs and don't have purchasing power.