This is a most excellent place for technology news and articles.
USA is moraly and ethicaly bankrupt. It has become a real danger to the free world. It runs on credit & it gobbles up the planet's resources.
My crystal ball still refuses to work, but this shit has got to end somehow, since incompetence has also taken over and that is the real destroyer of nations.
Yeah, the USA should balkanize at this point
Eat shit Elon.
Always happy to see Elon get some richly deserved kharma. He's a spoiled child, same as trump.
Good. Let the stocks fall further.
Let the billionaires imaginary money be wiped out.
Please pop soon please pop soon
Be careful what you wish for.
I'm no fan of AI, but the combination of swingeing tariffs and the 1929 crash lead to the Great Depression. We didn't have that happen in 2000 when the dotcom bubble burst because adults were in charge of the American finance system. that is no longer the case.
The orangutan has already pushed the American economy to the brink, the inevitable bursting of this bubble is going to decimate the US, and unfortunately the size of the US economy means that will flow onto the rest of the world. Unless you are in a country that close enough to no trade with the US and limited international financial dependencies you will be severely impacted. North Korea fits the bill but I don't really want to move there.
TIL swingeing is a word, and with a very separate meaning from swinging. It just looks weird and feels like swinging should be the actual correct one but that spelling seems to be pretty specifically for the polygamous sex stuff.
Maybe the metaphor of a dying star is apt. Before it dies, like our sun, it will become a red giant, destroying everything around it before it will live on as a neutron star.
I find your comment insulting to orangutans. They are a kind and emphatic species of primate beloved by my country. They are only unfortunate to share the same colour as another, far lesser primate that loves pushing buttons.
Otherwise I do wholeheartedly agree.
It's funny how countries that have taken steps to shield their exposure to America's race to destruction have been branded as villains on the world stage.
At this point it’s deserved. We voted for it to happen and I don’t really see any other way out of this shit to right the ship. Call me an accelerationist, but this is the fastest way we can achieve New Deal 2 electric boogaloo.
The wound must be lanced and purged lest infection set in.
Now: as a Canadian, if we must amputate....I think I know where I'd tie off.
I get it, but at the same time, do we always have to let key douchebags be "too big to fail" and endlessly support their choices no matter what?
This time around, I anticipate massive inflation as they just try to print their way out of it. That's the sort of financial disaster that seems to be a bit more on-brand for our current leadership.
I agree, there is too little accountability for the people who should be paying for their poor choices. I think the 18thC French solution is more instructive for the Epstein class than monetary fines though.
What's the alternative? Keep it as it is? Pop it later when it grows more and causes an even bigger catastrophe?
I don't think your premise that it is going to grow more in terms of impact size is valid. It's already eaten the US stockmarkets (and a number of others).
So I don't think anyone has the power to make that choice between keep or pop later, but if it was possible then slowly deflating the bubble and regulations to prevent this sort of thing happening in the first place would be my answer. Not going to happen of course.
Out of the bad alternatives of the bubble popping now, and the bubble popping later, later would be better for we non-americans if we had govt's who would actually work through the things needed to reduce its impact.
So, here in reality, damned if it does now, damned if it does later, either option is ugly.
I've been telling all my friends to get themselves and their pensions out of shares (US in particular) for the last 6 months I doubt they listened but what else can you do ?
I don’t think your premise that it is going to grow more in terms of impact size is valid. It’s already eaten the US stockmarkets (and a number of others).
Stock market schmock market, this bubble is also doing damage to society and the environment and at least the part that comes from the lies and lobbying from "OpenAI" and consorts would be stopped by it popping.
It will pop anyway, because it is vaporware. That is fixed. Is later better? I don't know, but my guess is it isn't. The damage is ongoing, you see.
Best case scenario is a slow bleed until a Fed chair from the next admin is appointed, and they're a strong Keynesian or better. Worst case is the crash coming at any point during this admin (including election fuckery, preventing transition of power). That'll be the whole house of cards.
I could also see it being better if it happens during this admin. My fellow citizens seem stupid enough that if a major crash happens during a Democrat lead administration they would immediately blame it on them and then vote Republican next time no matter what.
To clarify, I was speaking of the immediate economic fallout. I partially agree on the "party holding the hot potato losses elections when it goes off" but wasn't the angle I was talking in
Indeed, that will be hard. However, it seems to be necessary to have a depression (and perhaps even a civil war?) to reduce the power of the Epstein class and change the mindset of the American people. As a non-American, I see Trump more as a symptom. The real problem seems to be the American political system in general, and the morality of the people.
With this government, America has tried to be above everyone else and acquired power and wealth in a completely immoral way. Perhaps it can be understood that the rest of world doesn't care if the US burns down at this point, even if it brings economical losses. It's karma.
I hate to admit it, but you're right.
It's going to take global upheaval to claw power back from the billionaires. They live in a world where they are completely divorced from any kind of public infrastructure, and that wasn't the case the last time this happened in the late 1800's and early 1900's.
I too don't care personally if the US burns and it is entirely possible the world will be a better place for an enforced change there, however there seems to be an idea in this group that something like that can happen and it will only trivially impact the rest of the world.
Unfortunately modern economies are too intertwined for a meltdown there to not impact us here.
This isnt just "you might lose 10% of your pension fund" this is "your pension fund just became valueless, and half the people you know are now out of work"
Yeah people seem to forget that when the US economy crashed in 2008, unemployment rose in much of the rest of the world too.
The biggest risk would be the bubble holding together and the democrats getting into power, only for it to blow up in their face immediately.
While they might deal with it a bit better than trump, the damage he is already doing could tie their hands a lot.
We all know the right would get decades of mileage out of "look look, it was all awesome under trump, then the democrats broke everything".
That is exactly what's going to happen. Exactly what happened to Obama.
Dramatically increasing debt and letting Democrats up the mess has been the consistent Republican strategy since Reagan.
The worst bit is, it seems to work. At least if it blows up in trump's face, it's fairly unambiguous. I'm sure America's right wing media would spin it otherwise, but it at least makes that harder for them.
economy to the brink
bubble burst
going to decimate the US
Please, stop, I can only get so wet
On a more serious note I think not only will this happen at some point, there is no way to avoid it. Either capitalism continues unchecked until we wipe ourselves out, or we fight to replace it. Even if we do keep capitalism and somehow don't wipe ourselves out it naturally creates a cycle of societal abuse so these bubbles and depressions will continue
I think of hill climbing algorithms a lot. Basically you look in your immediate vicinity and if you see something better you go that way, and you keep doing that until every direction you look is down meaning you've reached the top of your hill. The problem is you can't necessarily tell if you're at the highest peak or not just that you're at a peak. To get out of that local peak and to something better you have to go downhill. Most systems that seek incremental improvements have this problem. I think we did the peak capitalism already and it is time to go downhill in search of a better peak. "It gets worse before it gets better"
In my opinion, the best we can do at this point is prepare for the global shitshow as best we can. Build community, move away from capitalism and the US, then try and stay course toward something better while it is going to shit around us. It would be great if we could prepare enough to prevent as much suffering as possible but we've gotten backed into a corner and are on a very serious timer before the planet is broken for good; so I don't know what the balance is between preparing and ripping off the bandaid
unfortunately the size of the US economy means that will flow onto the rest of the world
Yeah, yeah, we'll survive, just lance the fucking boil
Ahh yes, the AI bubble bursting at the same time the oil crisis is ramping up again, all the while tangerine Mussolini is doing his best to make it all even worse.
This should go well…
The more crises that happen simultaneously, the more likely it is that they all hit harder.
If AI was the only problem, then AI could just have a slight dip and recover. But since the global economy is getting hit from all sides at the same time... that's when each individual part doesn't have anything to fall back on. So each part is going to dip lower than it would have otherwise.
Absolutely. This one is gonna be a motherfucker that will make 2008 seem like child’s play
One day (soon) they will call The Great Depression "Great Depression I."
The Lesser Depression
The Lesser War started when Franz Ferdinand was assassinated.
I dunno, doesn't have the same ring to it.
“Folks, we’re gonna have a great depression. No really, it’s gonna be great. Some people say it will be the greatest. It’s gonna be tremendous. Like no one has ever seen before. Sleepy Joe Biden couldn’t do it! Horrible administration… and they stole the election. They said it couldn’t be done, but we have some great folks who put their great minds together to make it happen. Only this administration’s tremendous willpower could have done this. No one else in history… they said the 1930’s had a Great Depression… it was weak, pathetic, orchestrated by the deep state democrats. We’re gonna show them how it’s done, folks. No Great Depression has been or will ever be greater than this one. I’m telling you folks, this one will go down in history!”
It's the chance of a life time, they will never get another chance of losing that much money again.
Who will lose money?
Oh no!
Well cunts you've had a good few years now time to crash and burn.
Just 95% more for Tesla to fall until it's somewhat reasonably valued.
