Steve posted on the now famous Obama gaffe that ATM machines are causing the unemployment to remain at 9%. But, you didn’t think the ATM industry would take that lying down did you? Take a gander at what the ATM industry had to say to the young president yesterday. I’ve included the video from the Today Show interview as well.
Just to refresh your memory Ann Curry on the Today Show asked Pres. Obama why the unemployment rate remains so stubbornly high. President answered that part of the reason was automation, which on so many fronts, is just patently nonsense. Here’s the video just as a refresher.
While the ATM industry responded, and unlike their machines sometimes, they didn’t hold back. Open mouth, insert card.
‘President Obama should never use ATMs as an example of how technology replaces human labor because ATMs today play a critical role in providing extensive employment in the ATM and cash-in-transit industries. In addition, ATMs provide an indispensible(sic) range of services to customers, including all-hours access to their own banked cash. With over 400,000 in America alone, ATMs have become the main distribution channel for the distribution of cash in all modern economies and cash remains by far the most popular form of payment by US consumers.
My guess is you can add the people in the ATM industry with the people in the Louisiana oil industry, with the people in Las Vegas to the group of people who will probably no longer vote for the young President.