cross-posted from: https://lemmy.world/post/43533515
When will we simply accept that it’s a bubble and move on, instead of pouring a relentless amount of resources into it.
cross-posted from: https://lemmy.world/post/43533515
When will we simply accept that it’s a bubble and move on, instead of pouring a relentless amount of resources into it.
Oh we are in the process of ‘accepting that its a bubble’ right now.
Problem is that what that looks like is more and more Private Equity/Credit firms taking haircuts and a few starting the Private Credit version of a bank run.
So, when the bubble pops, the economy gets much, much worse than it currently is, and yeah that means your 401k and pension funds get fucked.
And the ultra wealthy won’t feel the sting, and will be able to buy up much much more and repeat the process allll over again
Sure it will burst, companies will go bankrupt, millions of peoples retirement savings will disappear, and many will suffer /die from the economic aftershock…
BUT
The rich will have already realized their dividends / capital gains
The rich will have already purchased the land / property
The rich will already have the data centers / ram / AI
They rich will have their assets and eat ours to
…
The whole system is a kleptocracy and the AI bubble bursting will make late stage capitalism worse not better.
No arguments here
You may or may not be surprised by how many people call me an AI shill for acknowledging that.
I am surprised, I mean fuck AI entirely, but how could it get better? Us plebs will just get more fucked over
Not only that, they’ll get a public bailout because they’re “Too big to fail.” Like literally why are we paying taxes when we know that our tax dollars will just be handed over to the billionaires because they just keep breaking everything?
They dont have enough money to bail out these tech companies…
They can always print it.
And effectively tax all of us via inflation.
Fed does that everytime the US government wants to issue debt and there aren’t enough buyers for at the given interest rate.
… why do you think Trump has been basically taking over the Fed?