The AI bubble is the only thing keeping the US economy together

https://www.techspot.com/news/109626-ai-bubble-only-thing-keeping-us-economy-together.html

Whats going to happen when it pops?

refmon posted...

The AI bubble is the only thing keeping the US economy together

Except its simply not true. Q2 GDP grew at a 3.8% annual rate, fueled by strong consumer spending. (The clients for these AI tools are mainly corporations, not mom & pops.) Q3 is currently tracking for another 3%+ gain.

Whats going to happen when it pops?

They will get bailed out. When the first IT bubble popped in 2000, the Federal Reserve (central bank) lowered interest rates from 6% to 1% despite mild effects on the broader economy. Congress will likely pass a multi-trillion dollar stimulus package to bail out Big Tech because theyre too big to fail.

refmon posted...

https://www.techspot.com/news/109626-ai-bubble-only-thing-keeping-us-economy-together.html

Whats going to happen when it pops?

Doesn't your side love AI though, TC?

Silly refmon, bubbles don't pop. Especially volatile tech based ones where obsolescene is around the corner and are tied to and limited by natural resources in order to function.

We are all perfectly safe and not heading for disaster.

It won't be pretty considering how incompetent and inept this administration is especially in regards to the economy.

It just seems like their whole economic strategy is to tell us things are the best it's ever been and it's all thanks to Donny.

Meanwhile food banks are struggling to keep up, the country and its citizens are circling in debt, a whole generation can't find meaningful employment.

So when the bubble pops this administration will do the same thing they did during COVID, bailouts without any form of accountability for the rich, a pittance for the masses. Print more money and cause another decade plus of inflation.

refmon posted...

Whats going to happen when it pops?

Invade other countries

AI Bubble is going to pop because it's overhyped garbage. We can't even get self-driving cars to work in economy.

Source: AI techbros and companies who want to replace their workforce

TMOG posted...

Source: AI techbros and companies who want to replace their workforce

I'm not sure how accurate that article is....

Either way- AI is a waste of resources. Massive water and energy consumption isn't worth it.

__starsnostars posted...

So when the bubble pops this administration will do the same thing they did during COVID, bailouts without any form of accountability for the rich, a pittance for the masses . Print more money and cause another decade plus of inflation.

I don't think they'll even bother with this part of it next time.

More like AI is whats keeping the stocks reaching for ATHs every other despite of the doom and gloom looming on the horizon.