AI Added 'Basically Zero' to US Economic Growth Last Year, Goldman Sachs Says
gizmodo.com
Imported chips and hardware mean the AI investments are translating into US GDP growth.

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.

  • sp3ctr4l@lemmy.dbzer0.comEnglish
    16·
    1 天前

    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.

    • T00l_shed@lemmy.world
      14·
      2 天前

      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

      • Canaconda@lemmy.ca
        13·
        1 天前

        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.

          • Canaconda@lemmy.ca
            2·
            1 天前

            You may or may not be surprised by how many people call me an AI shill for acknowledging that.

            • T00l_shed@lemmy.world
              3·
              1 天前

              I am surprised, I mean fuck AI entirely, but how could it get better? Us plebs will just get more fucked over

              • Canaconda@lemmy.ca
                2·
                20 小时前

                If people in general had the economic/historic background knowledge to understand what’s actually coming we wouldn’t be in this situation in the first place.

                Unfortunately people are powerless, angry, and grasping at straws with regards to cheering for the AI bubble to burst.

      • InputZero@lemmy.world
        11·
        2 天前

        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?

          • sp3ctr4l@lemmy.dbzer0.comEnglish
            2·
            1 天前

            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?