100% correct, but the Americans will eat the shit bailout (corporate socialism) sandwich…again.
Spoiler alert: they will literally take food from the hands of a starving child and give it to Altman, Zuckerberg and Musk.
They already did it. They will do it again.
Obama gave a colossal welfare check to corporations in his first term and the right hated it.
Trump does it in both terms and they applaud it with tears in their eyes and cum in their pants.
Republicans should hardly be considered human beings at this point.
Unfortunately the government will not listen. Whatever government is in power will do the same as the sub-prime debacle. They will bail out those that (intentionally?) caused it. Money will shift to shareholders and the top 0.5%, large swaths of stocks & property will be bought up cheap by the already wealthy, and the remaining 99.5% of the population will pay for it. The whole businesses need to profit in good times to make it through low times has been replaced with corporations are to be subsidized by the working class no matter what. SNAP is a subsidy to large corporations who can then ignore supply and demand of workers at poverty wages because tax payers make up the supports needed. Americans will go along with their standard of living continuing to decline because “American exceptionalism”. After a long career in politics, always saying the right thing but never able to affect real change, AOC will take over the crown from Bernie Saunders.
…But they probably will anyway, right?
Damn dude, what’s it gonna take for Americans to cut their losses and actually revolt? Painful to watch at this point.
Nothing.
Americans are the ones voting against their own interests.
realistically…murdochs propaganda arm needs chopped off, that’s the biggest reason for this shift over the last 30+ years.
What, in your mind, does said revolt look like?
But they’ll go ahead and do it anyway while she “SLAMS”, them publicly.
It’s like these slams don’t even mean anything anymore
If the common person was literate and picked up a thesaurus once in a while, maybe headlines would have a larger vocabulary. 🤷♂️
AOC got props from me after calling AWS’s bullshit. They still built in NY without the city’s funds.
Fuck no we shouldn’t. This is their fucking fault!
None of us wanted this! They’ve been shoving it down our throats for months, cutting budgets, and redirecting it to AI, all while smugly reminding us that “this is the future, they’re the experts, and any oppositions to what they’re doing in 2025 would be like opposing the internet circa 1996.”
This is the fucking result of allowing the “technocratic elite” to come in and tell countless departments and agencies full of “educated bureaucrats” to just sit back, shut up, and watch how it’s done.
The AI bubble is the fucking Dunning Kruger effect in action. Just because some pompous dumbass buys a bunch of planes, and thinks that makes him an expert on planes, and he is then able to convince a bunch of other stupid people he should be allowed to fly a plane, it doesn’t mean he actually knows how to fly the fucking plane.
We already made the mistake of allowing him to take over for the pilot and he immediately crashed our plane. Does rewarding him for crashing our plane, and telling him to just brush himself off and hop back in the captain’s chair seem like the brightest fucking idea?! 💡
But, muh share prices
-Rich assholes
Don’t forget the stupid poor people who can’t connect the dots between employees being overpaid and a company not getting enough funding.
If this work was really valuable, then people would be willing to do it for less or be willing to pay more. Otherwise it’s just a grift.
When did the public’s opinion matter to the government?
Well, eventually the government needs the public to implement policy. For all the talk of the miracles of AI, you can’t just shout orders at ChatGPT from the Oval Office and have them become real by magic.
The problem at hand is that some people have rejected these ultra-wealthy racist buffoons in their quest to automate every white collar job. Other people are hopping on the ICE gravy train or getting their beaks wet on the ballooning crypto/tech secondary markets or otherwise profiteering off the back end of the conservative criminal enterprise. And these are the folks with all the institutional authority, the administrative offices, and the loyal trained footsoldiers carrying around the guns.
Cops seem to get along with AI devices just fine. It does the unfun parts of their jobs for them and offers more free time to go around town in a monster truck, ramming people, roughing them up, and filing them into concentration camps. As more and more of the US labor force is told “The only viable path to the middle class is through the police”, you’re going to see Americans prodded into the police state (or its many subsidiaries and offshoots) as a matter of economic necessity.
Eventually, if its a choice between being on the inside of the fence or the outside of the fence, who wouldn’t pick being Winston Smith over some homeless peer who gets beaten to death on the street?
Who would we be bailing out? Isn’t the point of a bailout to keep the company/industry alive for the sake of the employees working in it? How many people do AI companies actually have that aren’t constantly replaced by AI? 🤔
The investors needs a bailout from their shitiness
Tbf the few hundred thousand they laid off as a gamble to show their dedication were humans.
They definitely keep human CEOs. For some reason.
They should bail out people’s pension plans and let the fat cats fail. Most people would accept that and it would be good for the economy.
What’s a pension?
They had record profits before the AI nonsense. Let them fail.
Hey guys, so not all bubbles are the same. When the housing bubble burst, there were tons of debt that tied the housing bubble to wallstreet and big banks which tied in mainstreet to the bubble. When that bubble crashed, it put banks in jeopardy and THAT would have brought the whole financial system and main street down. We’d have been seeing bank runs, and the whole economy would’ve ground to a halt. That’s when the bailout happened. Anyone remember dot-com bubble? When the dot-com bubble burst there were no bailouts. Companies just went under.
Current AI bubble is funded by the gynormous profits and funds that big tech companies have - Microsoft, Meta, Alphabet, Amazon, etc. who have humongous cash reserves and profits that they are literally plowing into building AI data centers which in turn fuels Nvidia’s gynormous profits which it is plowing back into other AI companies. Nvidia doesn’t have debt. Big tech companies aren’t highly leveraged. When it crashes, it will go the way of dot-com.
I appreciate this (much needed) insight, but I think too many members of congress and high-ranking officials in this corrupt government have huge vested interests in this bubble and may not think twice in throwing the public under the bus
After so many years of financial education being “save early, save often” and “put your money in index funds to diversify” and “historically the US stock market has only gone up over long enough periods of time” there is a sizeable amount of retirement funds riding on this bubble. In the year 2000, the average 401k balance was a little under $60k (https://www.latimes.com/archives/la-xpm-2001-aug-14-fi-33836-story.html) and that has now ballooned to $326k (https://www.empower.com/the-currency/life/average-401k-balance-age).
The bailout will be sold as protecting retirement funds, even though the median 401k balance is far lower than the average and even though people nearing retirement should have a higher mix of bonds instead of stocks anyway.
The AI bubble makes the Dot Com bubble blush by comparison.
US GDP is $29 trillion. The Dot Com bubble wiped $1.78 trillion in value from the US stock market in 9 months, and had a lot of flow on effects to banking - ultimately the bubble cost about $5 trillion, had dropped the stock market 78% from its peak, and triggered a recession that lasted most of a decade.
According to leading economists, the AI bubble is 17 times larger.
I believe the AI bubble today is in many ways worse than the Dot Com bubble of the 90s because we’re now so heavily reliant on technology for business, and so many major tech companies have invested heavily in AI, pretty much everyone has some exposure. A crash of the tech sector and multiple big names failing today would be just as bad economically as banks failing in the 90s.
If you think the US economy is somehow insulated by the wealth of the big tech companies… I strongly disagree. They borrow against their stock valuation, if their price dips a lot their lenders will be looking for loans to be repaid as their collateral has decreased. They are not too big to fail and when it pops they’ll cause a lasting recession.
It would be different if the rest of the US economy was booming, but all US economic gain in GDP over the last 5 years has been due to the AI bubble, take it out of the picture and you’re already in a recession. Add Trump as president and a Republican-led congress defunding so many US social support institutions and you may have a depression.
and triggered a recession that lasted most of a decade.
FALSE. Fake news. Please check your economic data before making a comment like that. Which fake news website did you go to that said there was a recession that lasted a decade because of the dotcom bubble? The recession after dot-com bubble burst lasted 8 months. Last time I checked, 8 months isn’t “a decade”.
Well, at least hopefully we’ll see the Silicon Valley tech monopoly weaken a bit (but at what cost?)
Americans need to demand a better goverment, tho.
But of course they will bail them out… there is a 0% chance they won’t be bailed out
In some countries, people make a big enough stink to actually send people to jail rather than write them a cheque.
It can happen.
but that’s not the Murica way
It could be! You were once the great hope for democracy and working people everywhere, until you were captured and contained by the aristocracy. You could be that hope again.
Americans would have to admit they were wrong in order for that to happen.
I won’t hold my breath.
hmmm that was mostly the successful years of the PR campaign from Murica…
If they don’t bail them out then think of all the jobs that will be lost when AI comes to fruition – I mean the jobs that will be lost if they don’t get their government money.
Exactly. AOC can talk all she wants but Democrats Always Chicken Out.
DACO
LOL. 9 downvotes…how did that lockdown work out?
If/When the AI Bubble pops we need every blue state to join together and form a new country with an overhauled everything to never let this happen again.
For any red states we can do it EU style of allowing them in if they actually both majority voted blue, have done major reforms in how they operate, and have done things to actually mean it as a permanent change.
…so when we ‘hire’ politicians, they are supposed to work in our best inerest, only a few representatives seem to do this and they are all Democrats…
they are all Democrats…
More accurately, Social Democrats and other progressives. Establishment Democrats are corporate-owned bootlickers that act against their constituents’ interests in favor of their donors, much like Republicans but without the blatant -isms and -phobias.
…i agree whole-heartedly…the people who should be in charge don’t want to be and the people who want to be in charge shouldn’t…
It’s W.B. Yeats’ Second Coming all over again.
I disagree with this statement.
the people who should be in charge don’t want to be
What? That is utter nonsense.
It’s not. Power attracts people who want to abuse it. The people most suited for being an actual good leader, aren’t seeking it out.
I think that’s overly simplistic. Power does attract people who want to abuse it, but it also attracts people who want to change their world for the better.
The latter group view power more as a weighty responsibility than a privilege, but the power still exists.
Although that latter group is also more likely to spread their power around, thus reducing the opportunities for abuse by the former group, and… I kind of see your point. But I view it a bit more systemically.
You ae bad at reading.
No.
There are countless people worthy of such positions and they fight every day to get in.
To say they don’t want to is to frame it as the left is lazy, when the reality is that the leftists are fucked over by the capitalists.
Social democrats isn’t a party (at least, not one they’re members of). It’s an idiology. They are elected as members of the Democratic party. You’re right, but I’m just pointing out that they are Democrats, along with being social democrats (no capital letters), progressives, or whatever else.
Every Dem candidate is pretty close to Jimmy Carter on the issues.
The GOP keeps moving further to the Right.
Letting the GOP win anything doesn’t do anyone any good, ever.
Democrats on the left of their party.
Quick recap of the political landscape for the past few decades
- The right will make the world worse for everyone except about 100 people
- The center will try to keep it the same, and often make it worse in general as the status quo has been built by the right
- The left will actually try to make it better, but sometimes fail
This has always been the choice since Thatcher/Reagan and the right had their last ever economic idea in neoliberalism.
A few more decades of majority centre/right wing rule and 99.99% of us will have nothing and that 100 will have it all. They know this and that’s why they fund racists to paint an alternative reason everything is going to shit. They can happily carry on with their accumulation of everything and hopefully enough people won’t realise before it’s too late to do anything.
The few left wing voices you can hear are your only voices that have managed to resist being bought.
(Oh important reminder, don’t let a politician tell you what their political alignment is, look at how they vote and behave. The further right you go the more often you’ll get an untrue response to the question)
The right will make the world worse for everyone except about 100 people
I mean, your eventuality of about 100 people owning it all is correct, but for now there’s at least a few thousand that the right is making money for.
The fun thing about politicians saying things we like is that it’s much easier to do so when you know exactly how all of this is going to turn out.
Words don’t accomplish anything. Call me when the Democrats refuse to vote for the bailout and it fails instead.
We have to reach across the aiiiiiisle…
