The economy has not been good since the 70’s and I wish economists would collectively pull their heads out of their asses and stop towing the line of the ones in charge.
What you or I experience is completely decoupled from the stock market, or the GDP, and has been forever.
As a person who is studying economics, I agree with you on this
It’s time for progressive socio economics
and take the economy with it…
Yeah like the last umpteen times this has happened in my lifetime. We live in a society of greed, who knew it would be so unstable?
But this hype is real. Promise! Really real! Or the next one!
See entry level people believe it’s fundamentals. Smarter people understand that it’s reading people and knowing when they’re dumb enough to invest and knowing when to bail before they wise up. So if you think about it in those respects, it is indeed an honest to goodness “real” thing. People are really being ripped off by con-artist.
But yeah, the days of the 1890s to 1930s of structured investment, measured risk, and mitigation of the unforeseen, those days are dead. There aren’t market fundamentals outside of being able to identify rubes.
If that’s the thing that kills the economy, the economy deserves to be killed
Which economy? The billionaire economy of the normies economy?
First one, then the other because it’s only fair
ah, because the billionaires are going to suck the blood from the regular economy like a vampire to recover
Recover? No they buy low and double their take (or 100x or whatever the ratio is at this point).
We’re doing trillionaires now don’t forget. Even though Elon might not be anymore, there will be others unless we get our act together.
We will follow the billionaires into it economic hell. In solidarity of course.
Fuck, I wish we had a choice in this.
We could always make them feel like life is hell and death would be welcome, especially considering that they’re doing it to us., and they. Do. Not. Care.
They can fuck all our pensions up for good and starve us. That’s what it took to start the French Revolution, this time it’s gonna be global though.
For normal people it will just mean some inflation increase and interest rates increase
Nothing we havent seen in the past few years
…you don’t remember 2008, do you? Mass layoffs, small businesses closing in droves, difficulty getting loans, new grads unable to get adequate jobs for years (half the millennial cohort is still behind due to it)
No our federal government will spend billions to bail out whatever AI companies are favored by trump this week.
They prepare the too big to fail speech I think
I can burst it quick if I invest in Nvidia and AMD.
AMD is an industry leader with a huge economic moat and I think they will be okay when the bubble pops. I’m not sure about Nvidia though, despite having superb chips, because the problem is they loaned to companies to buy their chips. So, Nvidia’s finances will be strained because Jensen Huang created a ponzi scheme that could not repay or be profitable to itself.
Not really a ponzi, more like circular financing. Nvidia exposed itself to the AI bust for no reason other than to keep the money flowing to buy their chips for a little longer. They were selling shovels in a gold rush and screwed it up by letting people finance the shovels. They’re not in the finance business, they’re in the chip business.
nvidia gives a trillion dollars to AI, AI buys a trillion dollars of future, currently unmade video cards to run the AI, nvidia gives AI another trillion dollars, AI buys another trillion dollars of unmade future cards, etc etc etc.
Its the biggest, highest energy economic ouroborus I’ve ever seen.
I cant see how nvidia survives the pop, and quite frankly, I’d be glad to see nvidia die. its been dragging the GPU market in bad directions for a decade+ now and I think it’d be better to be free of its influence… and it’d open the door to new players to step up and competition again.
I’m usually a rationalist but nothing can convince me that Sod’s Law isn’t somehow baked into the structure of the universe.
Yeah, like we haven’t been through multiple “generational” recessions.
At this point I feel like I’ve spent more time alive during recessions than not, so what’s one more for the pile - especially if it means getting to watch the AI bros go bankrupt.
Saddle up, sea biscuit
That’s the point. AI was never meant to succeed. It’s a ransom. They are willing to kill the hostages so to speak.
economy of paid subscriptions needs to die. ☑️
I agree, I deleted almost every app that has a subscription
If the apps have a pay once and buy once option then I keep and don’t delete
Not could. It’s a mathematical certainty that it will. Barring a breakthrough miracle – fat chance.
It really feels like the options are:
- Bubble bursts because it requires more money than the entire global economy not too at this point.
- Total regulatory capture and we just somehow keep it going forever to the detriment and gradual decay of literally everything else.
One day we shall reclaim the sullied em dash for ourselves once and for all!
An AI breakthrough has nothing to do with LLMs, it’s like saying the auto industry will collapse except if there is an AI breakthrough that saves it.
That’s what a breakthrough means. But obviously all the funding is burned up in more DCs with incremental iteration on the same design. So the bubble has to pop for real innovation. But I think this coming AI winter will be permanent, as things are very visibly falling apart.
Well yeah, but my statement is true anyways IMO. Deep neural networks are unchanged since the eighties I guess, and again IMO it’s not they who need/can have a breakthrough, doubly especially since nobody seems to be working on anything else than “bigger datasets” and profiling and such.
I don’t have any money. Crash away. Fuck it.
Yeah, some of us don’t have much money to begin with lol
Same with the GFC, 2007. I was broke, and did not even notice.
It has always been either the economy crashing because the AI bubble pops, or the economy crashes because the bubble didn’t pop due to AI successfully replacing enormous numbers of workers.
Or the economy crashes by AI replacing everyone and doing an absolute terrible job, causing stuff like supply chain collapse and communication/power outages.
I have yet to see someone explain how this whole thing actually works out. Just a dozen different scenarios that turn out terrible for almost everyone. The only scenario that works out is if a handful of people like Altman absolutely rule the world, become de facto dictators as they are the ones that control the few AI companies that run everything. And by work out, I mean it works out for that handful of people. For the rest of the world it’s probably just about the worst case scenario. But you just know it’s the scenario scammy Altman is hoping for.
It’s not AI it’s UBI. AI is going to happen. What was important was an orderly transition to UBI.
AI is going to happen.
Oh? So there are hard numbers showing a positive ROI now?
Frankly, it looks like nobody making decisions is doing that based on numbers anymore, and if that’s a case, it is definitely happening based on vibes.
Or not, if something new and shiny captures their attention before that.
These LLMs are not the type of AI that’s going to do the things they claim AI can do.
Yeah, when will people catch up on how they actually work (I’d put a “lol” here if it wasn’t so sad).
That goalpost will soon switch to “well, this wasn’t the real ai anyway”
That was always the real goalpost. Any claims otherwise were just fraudulent marketing
UBI won’t work without LVT
What’s LVT?
It would be so funny that the economy crashes, making poor people poorer and rich people richer!
Because that is what happened in the past few crashes. So I’m not entirely sure when and where I should start laughing about this
in the past the rich got richer because the poor didn’t understand who to blame.
sentiment towards the wealthy these days is far more volatile than it was in the 1930s.
And it will just happen again. If you think the poor will rise up or something like that, then I have a bridge to sell you.
Do not underestimate the US propaganda apparatus
at this point I couldn’t care less if they do or not. humanity is fucked. we’re in a downward spiral heading for the poop chute.
And because we bailed out the rich.
could, you mean will. when that happens all those tech people in AI will likely be first to be laid off, the first signs would be the sudden evaporation of AI tech conferences in many hubs,. and all those catering companies, food companies that depend on these conferences is going to hurt too.
AI isn’t going away just like dotcom companies didn’t go away. They are in for a steep hair cut though and many companies will not survive.
I think that’s kind of their idea. Be unsustainable and unprofitable, yet push to be on everything so the Goverment will bail them out.
I bet they’re just running as fast as they can, not caring about which direction as long as they are “ahead”.
The current everything bubble is too big to be bailed out. It will take down with it everything. Including the value of currency.
If this one bursting ends the USD status as Reserve Currency, that would be great.
Painful, but in the mid and long term great.
Yeah, Same here honestly
That’s why I bought gold and silver
The stability of our economy depends on them quickly changing course.
Oh. Well.
Let the dominoes fall.
