Well now you know why Warren Buffet cashed out. He’s going to buy all the tech companies on a fire sale.
promises promises.
Translation: we juiced the bubble so good trying to make a trillion dollars that when it pops, the world economy is coming down with it.
More like we juiced the bubble so good trying to make a trillion dollars that you (world governments) better not let it pop.
Any company not using AI for anything will be pretty unaffected when this bubble pops.
Even if they don’t use AI, they probably trade with a company that does.
Good luck finding that in any large or even mid-size company. If you think you found one, good chance you probably just found one with a lot of Shadow IT and poor visibility.
except their employee benefits package is guaranteed to touch companies impacted by it.
So, they want us all to suffer for their bad decisions? Well that just puts us all on the same playing field (except for the 1%) and at which point, we will revolt and take them (1%) down with us.
If an AI bubble pops, no one is getting out clean.
He means the taxpayers.
Privatize the profits, socialize the losses
“We should privatise service X so it’s more efficient” X collapses “We can’t afford to let X fail despite the fact that it ran at massive profits all the way to it’s collapse so we’ll bail it out” THEN WHAT WAS THE POINT OF PRIVATISING IT IN THE FIRST PLACE?!
You can take on the burden of running the thing and therefore the cost of making it public, or you can allow it to be private with the caveat that they must pay a substantial (enough for the government to not be at a net loss) tax as a kind of insurance in the event a bailout is needed, but don’t take on the worst of both worlds where the profits are private and the losses are public.
The utter lack of self-awareness…
Due to the sheer number of articles surrounding the AI bubble popping; I’m coming to the conclusion that this has already started.
you’re kidding right?
those billionaites that gambled the US economy on an executive borwnosing machine will get a bailout paid by those who lost healthcare and can’t afford food. 2008 all over again.
It makes more sense if you read it as a threat.
We should improve society somewhat.
that sounds like antiameticamism and therefore legally making you a terrorist
I believe the French had a nice invention for that. And it’s not the ‘pain au chocolat’…
tbf the 40 years after the french revolution were called “the terror”
didn’t they ended up with an emperor?
we learned that violent revoluts without unity and theory will succeed in creating another unfair system.
Organise, join local groups, join those groups with other groups.
I’ve taken shits with more value to the human race than Sundar Prichai
“I’m gonna take you all down with me!”
Then I’ll ask for a sweet socialist bailout while the rest of you enjoy rugged capitalism.
Make no mistake. Just like the housing bubble of 2007 and 2008 there are people poised and ready to make tons of money off of the deflation of the AI bubble.
The money to be made is on predicting when, not it it’s going to burst. Otherwise we’d all be betting the house on it.
Actually it’s more about the how. The people betting against the housing market put their chips down as early as 2005. They just had to find a way to profit from it.
Interesting. And what was the how back then?
Jacked to the tits…
I’m waiting with money to buy Google for 1 dollar.
Don’t worry, I’m sure there will be a huge government bailout that the people have no say in. Remember 2008? I don’t remember voting to give away piles of money to the bankers.
You know what Iceland did when there was suspicious investing and they had bank failures? They put the bankers in jail! What did we do? We gave them a bonus!
God bless America, because we’ll need it!
America is really bizarro world compared to other countries and how they handle things like this.
It just seems like in America, you can fail upwards, con people and still get out filthy rich.
you can fail upwards, con people and still get out filthy rich.
Only if you con the poors. If you con someone who’s rich or “powerful”, then you get punished.
Nah, most of Europe did exactly the same thing as America last time around. Hell the EU went out of its way to make sure bankers didn’t lose money (how do you think Greek Debt which was entirely in private hands ended up in the hands of the EU, which then turned around and forced Austerity of Greece “to avoid losses of money of EU taxpayers”) - the Corruption was just as bad on this side of the pond as it was on the other.
Iceland stands out because they were almost unique in the West in making the bankers pay for their shenanigans.
It’s only bizarre until you realize this isn’t a failure of the system. This is a success for the people getting the payout. They have lobbied and deeply infiltrated the government. The US government doesn’t serve the citizenry anymore. It serves the rich and powerful. The rest of us are just useful as consumers to funnel money to the corporations.
This is a threat. They know that they’re using the stock market to fund their greed and that anyone with savings tied up there (Retirement funds that are invested in the market) will be on the hook. Plus the tax payer money they’re going to ask for because they’re “too big to fail”.
I was opposed to the bailouts in 08’, and I’m severely against any of these fuckers getting more resources to attack me. It’s absurd. What’s more absurd is that both aisles will support it, but Americans healthcare will be at 5k a month 😂〽️
Cleptocracy much?
