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Boosted by baldur@toot.cafe ("Baldur Bjarnason"):
davidgerard@circumstances.run ("David Gerard") wrote:
the AI bubble is a big money scam, but it’s part of a system of big money scams. the current US economy is multiple rotten logs holding each other up.
here are some things all on the horizon or here now, simultaneously:
* AI bubble pops (soon? my guess is 2027-ish)
* All electronics prices go up 50-100% (in progress) (edit: 200%-500% already)
* Private credit does a 2008 (currently juggling chainsaws and yelling "THIS IS FINE")
* Consumer loan defaults getting quite bad (since 2024)
* Wall St Bitcoin falls over (in progress; not so load bearing, but very funny)
* War sends oil through the roof
* Capping oil wells (a non trivial and slow to reverse action)what other exciting economic disasters are cooking right this moment to ready us for Great Depression 2? place bets now!
btw, Jay Powell finishes as Fed chair in May and Trump's pick, Kevin Warsh, is a bitcoiner into Austrian Econ goldbuggery. countries left Great Depression 1 as they got *off* the gold standard, Warsh is the perfect wrong man to have in the hot seat at the wrong time
's gonna be awesome