'If I was 18 now, there is no way I would go to university only to leave with huge debts and poor job prospects,' says analyst. He'd be an electrician.

The article focuses on Albert Edwards, a veteran macroeconomic analyst, who warns that artificial intelligence (AI) is already damaging job prospects for recent university graduates, urging young people to consider learning trades like electrician work instead of pursuing costly university degrees. Edwards highlights that AI-driven productivity gains benefit investors and capital rather than labor, contributing to stagnant real incomes, collapsing personal savings rates, and a fragile consumer economy vulnerable to a potential AI-led recession. The article also references Citrini Research’s report predicting a deflationary spiral caused by AI-induced white-collar job losses, and discusses broader concerns about declining economic mobility, intergenerational inequality, and the erosion of belief in the future under current capitalist dynamics. [Extracted from the article]