Nature is healing.
This was the most pathetic economic bubble I’ve ever been a part of
I’m doing my part by continuing to ask chatgpt questions constantly without paying them money. I have started using Claude at work as well. If I do it enough, they’ll eventually all realize it’s expensive af, and give up on it. That’s the hope anyway.
Edit: Also, fucking finally. Been waiting for this to happen for what seems like ages.
Everyone is hoping that we start arresting these politicians and tech bros when the bubble bursts but why wait?
That won’t happen. People like Elon only exist because of these bubbles. The bubble means nothing to the individuals, they just jump ship and start something new.
YIPPIEEEE
the herd animals who did this are incapable of learning. unless they are taken out of the system, this will recurring. like it has every few years since the turn of the century.
almost accurate. financial regulations put in place after the Great Depression kept relative stability for 50 years. as deregulation accelerted at the end if the 80s, swings resumed and we are niw in the boom/bust cycles that were so painful from 1870 to 1933.
Also not coincidentally the time of the robber barons
Everyone here is so excited for the bubble to pop, even though it would make everyone’s life harder.
As for me? I too am also excited for it to pop.
Why? Well what the hell is the alternative, I’ll take a market correction and return to sane time any day of the week but it seems that them oligarchs are too horney for their game of financial Russian roulette.
I rather them putting the gun down, but if they insist on playing then I want them to lose faster.
The longer the bubble inflates the worse the pop of going to be. Bursting now is going to be bad, but a hell of a lot better than bursting later.
The problem is the robber barons are unaffected by the crashes. In fact, it just becomes another buying opportunity for them with all that free money lying around. They just keep getting richer. It’s the rest of us that suffer.
I’m excited for the greenhouse gas emissions to drop!
I wouldn’t hold my breath.
You’re gonna have to if they keep emitting. There’ll be nothing left to breathe
Unfortunately they never lose.
Yeah, pretty sure they will get bailed out.
It will be 2008 all over again and we are still in the 2008 aftermath. Democrats are not brave enough to change things. No one who is going to be allowed near power is talking breaking up the monopolies and regulation. I don’t think things will improve until they have got worse still.
As a Brit, I just hope we, and Europe in general, kick America dependency to not get pulled round by their whims and eventual collapse. But most people’s digital lives are completely dependent on American monopolies. So much so they don’t dare even see it.
I don’t think so on this one. Logistically it’s toast. Society has a negative outlook on it. You can’t sell AI like you can firearms and politicians aren’t going to stick their neck out for it.
It will all be about maintaining America lead/power (monopolies). Wrapped in a flag. It doesn’t have to be popular. There are only two parties and they will both be for it.
Well put. That’s the summary of it. Sadly
Hope we are wrong, I just don’t see going differently.
They can’t really bail them out like they did in 08. Just to compare Ford to OpenAI for sake of my argument. The collapse of Ford risked not only losing a company but also the institutional knowledge within on top of the fact that Ford itself could eventually pay off the loan which isn’t even getting into other benefits, for comparison what does the collapse of OpenAI risk beyond some edge case nonsense hell could they even pay off a loan. Trying to bail out the AI industry would be dead on arrival by default, the best you may be able to do is downsize them massively and maybe make them profitable via specialized sub industries but yet again that risks them collapsing regardless.
More to the point is the magnitude. Note that Ford ultimately didn’t get a bailout, but between GM and financial sector they did about $500 billion, which adjusted for inflation would be about $800 billion. That’s not enough to even cover OpenAI’s obligations by itself, let alone the broader AI industry. GM’s bailout was $50 billion.
Thanks for correcting and adding to my statement on how severe this whole thing is, I have it in my head but I’m a bit shit at elaboration. Also I knew it was one of the big three but I couldn’t remember if it was Ford or GM.
I’m not saying it is a good idea. Or even one the populous wants. I’d be shocked if it all allowed to collapse and dominoes fall where they may. It will all be wrapped in the flag and about maintaining America lead/power (monopolies) and force fed to voters by both parties. There are only two parties to buy.
Oh I got what you meant I just disagree. My point was that AI is a money burning party with nothing to show unlike basically any other industry, even if you bail them out once they’ll likely need to be bailed out again by the next quarter since they don’t really have a product to sell. Not even getting into all the debt a lot of these companies have or any future contracts that have been signed.
Point is even if they are bailed out it will amount to doing a blood transfusion on someone with an actively bleeding artery. They are far more likely to wipe everything else out than succeed, though I wouldn’t be surprised if that was the end goal for dipshits like Thiel. Maybe it’s a weird but of optism but I can’t quite see enough congresscritters siding with that since basically all of them gain their power through the government and the current economic systems continued existence.
You say they have nothing, but a lot of people are using it. Now I’d argue many aren’t getting value out of it, even at a 10th to 100th the actual cost, but they think they are. (Often it is someone else has to fix the slop)
And I’m not saying a government bailout is the end of it. It just kicks the can down the road further. And probably makes the final pop bigger.
There is a reason these guys are building bunkers. It’s not AI they are fearing. It is us. Rising up and demanded retribution. They are literally trying to work out how they can keep their security people under control in a collapse. And hoping to replace them with bots. Thinking they can maintain that themselves. Or leave earth and hide where we can’t go. It’s all absolutely mental.
2008 had a very wide blast radius. If it was just a handful or even most banks that were in trouble it probably wouldn’t have been a bailout. Mortgage securities were everywhere and no one knew how much they were actually worth. Most the fortune 500 facing a double digit percentage loss was looking likely, which would have been catastrophic.
Compared to today it might be more money, but it’s isolated to the tech sector. Even then a lot of the worst of it is not on publicly traded companies .
When the dominoes fall, it is unlikely to be neatly contained due to the scale if nothing else.
I can’t wait for civilization to collapse so my ideology can rise from the ashes, anarcho-raiderism.
I want a form of government where to become president you have to travel to 7 ancient temples and at each one pass the trial and acquire the artifact
Strange women lying in ponds distributing swords is no basis for a system of government. Supreme executive power derives from a mandate from the masses, not from some farcical aquatic ceremony.
I’m shocked nobody’s commented on the reference yet.
“Go away you silly k-nig-gtt. Fetchez la Vache!”
“run away! run away!”
For those too young to remember or haven’t been exposed to it, this is from Monty Python and the search for the Holy Grail.
This is a must watch for any political cynic.
Edit:. I’m sorry I didn’t see the duck comment that came an hour before me.
As a frenchman, I always eared “faites chier la cache”, which is slang for “throw the cow”
Depends, does she weigh more than a duck?
So how many strange women do you think we are going to need?
also must use the crystal skull to transport to another place.
I just hope it can wait until my solar panels get installed. Friggen permitting is taking forever.
Oh no, my life savings (2 sticks of DDR5) will decrease in value.
You mean Sam’s ddr5?
I get to use it 5% of the time (e: for $20/mo)
Gen-X, having lived through 1987 (Black Monday), ~2000 Dot-Com Bubble burst , 2008 global financial meltdown, and the 2020 COVID-19 crash:
Look, it’s another one of those one-in-a-lifetime events! How many now?..
And most of them is some way orchestrated by the US. Motherfuckers and their bullshit capitalism.
As a 44-year old who lived through all of those once-in-a-lifetime events (you also forgot 9/11) just once in my life, I’d like a boring decade where nothing happens.
Between the wars, politics, global terror, economic upheaval and the general state of things… I’m really fucking tired boss.
We will never live in peace. It’s just greed and war all the way down.
I think you mean the “once in a lifetime” crashes
Us older millennials as well. We just don’t have the advantage of working in the booming 80s.
Neither did the vast majority of Gen-X. The cocaine 80’s is peak Boomer shit.
EDIT: I was born in 73. Started uni in 90. Let’s say you wanted to ride that mid 80’s wave, you should have been in the workforce by 84, that puts you born ~63. By the majority of lists, Gen-X starts on 65.
Yeah. I went to school with rich kids who were suddenly worried about whether daddy could pay for college after that 1987 crash.
dad bailed on us for good that winter. left mom and us kids with nothing. he spent several years globe-trotting with his flavor-of-the-month mistress.
I’m sorry that you had to experience that. I hope you all eventally survived and thrived.
Yeah, 1988-1996 was pretty bad. It was my computer hobby that saved my life. No idea where I’d be today had I not turned my side hustle into a career.
I guess I was “lucky” in that I was too poor to be directly impacted my the market back then. But I was young, energetic and at my peak looks-wise, so I can’t shit on that era too much.
Many kids had part time jobs in highschool. Plus that still directly impacted kids graduating into a good vs bad economy. Younger Gen x, sure. But it still benefits older and mid Gen x.
Most of us were coming of age in the 80s and working at a grocery store if at all.
I think there was an early 80s crash as well.
i’m tired boss…
Same…same.
Whoa its updated and high res.
Think it might bounce back one more time?
Absolutely will, lot of financial institutions still need to finish offloading their shit on the rubes and they need another big IPO for that. All bets are off after that though
Ah, yes, that’s the time of all the ads telling you to invest and buy stocks, so the small investor is holding the bag.
Crashes usually include a few sharp rallys
Knife juggling
The trick is stopping before you lose a finger, hand or arm.
Dead cat bounce
It’s all funny money that never existed to begin with lol.
True, but as what happend in the dot com bubble, the middle and lower classes will pay. If you lived in a tech area during the bubble burst then, you’ll know how bad this is going to be worldwide.
So what to do if I suspect a bubble is coming? Sell my investment funds and keep fiat? Buy gold? Buy merchandise to sell later? Buy real estate?
I have no idea how to prepare.
If you see risk being very high, make low risk investments: high yield savings accounts, CDs, bonds.
CDs? Damn I have a bunch of CDs with music, games. I’m gonna be rich.
On the real, I’ve heard the used CD market is making a massive comeback. There’s something to be said about physical media in the age of internet becoming more and more scary.
I already have a ton of cds but I’ve been buying blurays and dvds lately. Gotta keep morale up after infrastructure goes down!
Isn’t it moreso Vinyl?
Bonds? Just not US bonds. Trump says he can take care of US debt with inflation, no problem.
My plan is just to cry.
Yeah, I’m fully disabled and dependent on my 80 yr old aunt working almost full time to provide housing for me in her home. When she dies I’ll be homeless again. So crying seems appropriate 😭
Unless you’re retiring in the next 5-10 years, it’s probably best to stand pat or shift some % out of large-cap funds to mid-caps. But the old adage usually holds true: “time in the market beats timing the market.” In other words, pulling it all out is way harder to get right than just leaving it in.
(Your choice- I am not a financial advisor)
Gold not silver small portions is ok, bonds because different types are liquid govt backed interest, real estate is always good they don’t make more land, staying liquid is ideal. The most money is made during down turns if you buy right. Don’t time the market it’ll never happen. Instead grow steady of buy whole under valued assets.
Depends how wealthy you are. If you’re wealthy and even remotely intelligent this is where you make even more money. Wealthy people will diversify, they’ll sell some of their tech stocks and put it into anything not related to AI. Be it oil or manufacturing or agriculture etc. Then they liquidate those stocks (or loan against them, depending on how wealthy we’re talking about) to buy up tech stock when they’ve crashed. You then wait a few years and make money.
If you’re not wealthy enough to do that put your money into something stable, like bonds. If you want to be sure you won’t lose money (in the sense that the amount of money you put in won’t go below what you put in, it can still lose value due to inflation) your bank probably offers term deposits where you let your bank reserve your money for a few years and in return they guarantee something like a 2% annual return on your deposit.
And if you’re not wealthy enough to do that… You’re pretty much fucked. Learn to cook and enjoy cheap meals, start budgeting right now, forget enjoyment and hope you don’t get fired.
Me neither, hold on for the ride?
buy the dip (not financial advice)
OK I went to the store and bought some queso dip… Now what?
You got chips, too, right? … Right?
D’oh! I knew I was forgetting something!
Enjoy the show
Buy bonds
(Probably not US bonds)
Not financial advise but I personally decided to keep my money in MSCI World ex USA ETFand some gold + Stoxx 600. For now it seems my strategy is working. Will see where we go from here
Pay down short term debt.
Build emergency funds.
What short time debt?
Opposite to long term debt.
Long term is mortgages, loans with fixed terms.
Short term is credit cards, pay day loans, overdrafts, stuff like klana etc.
Get those cleared so that the money you earn stays as yours and you’re not paying interest on debt. Once that’s done the money were paying to other people can go into high interest savings so you start earning interest on it, and act as a buffer to stop you going back into debt in the future
deleted by creator
Pay off any credit card balance you can.
Bullets and toilet paper. 📈
buy real estate
Ohh absolutely, it was devastating to watch, and then to see corporations being bailed out because they were too big to fail. The big question is, is this really the start of a serious crash where the circle jerk of circular money pumped between 4-5 megacorps comes to an end, or do things really go crashing down from here. You need sanity to stabilize…the nuts have spun off the lugs that were holding the wheels of the economy to the hub…i think one wheel just wobbled a little…
I hope you’re not excited for that to happen is what I’m saying. Even if you’re not American, you will feel this.
Ohh absolutely not excited at all. Its a pending shitshow…I didn’t vote for any of this and have already cast my vote to have all these idiots removed from office.
There won’t be an AI bailout as with the auto industry and banking. AI hate is bipartisan and no national-level politician is dumb enough to throw public money at them. They’re not a huge employment/manufacturing concern like autos and they’re not the backbone of our financial system.
(And once again, I love your lug nut analogy, spot on!)
Greetings again 👋
Yah I agree, I don’t think it will be a traditional bailout like the auto industry though which was forgivable loans, I think it’ll likely come in the form of additional stock purchases by the US government, which is wild when you think about it.
They’re not a huge employment/manufacturing concern like autos and they’re not the backbone of our financial system.
No but they (AI companies and those claiming to be one including chip companies) directly influence the stock market, and this administration is having its day manipulating the hell out of it making a ton of money along the way. So if there is a way for the to make money on it, it will absolutely happen. Also the chip companies have national defense interests and so it’ a similar scenario as the DOD’s mission can not ever be hampered lol. The line must go up lol.
Ha! And thank you.
One sticking point, Trump can’t spend that kind of money and he’s about to lose the House and possibly the Senate.
We can only hope…but his family can spend it.
LOL, the entire Trump clan couldn’t put a tiny dent in a bailout that would cost an easy trillion dollars.
AI hate is bipartisan and no national-level politician is dumb enough to throw public money at them.
Trump loves him some AI bros, though. And could easily “justify” dumping shitloads of public money into them because using AI in the military (bad idea in the first place) makes AI a “national security priority”.
Trump can’t spend that kind of money. Despite Congress bowing to him, they still hold the power of the purse.
If they actually opt to use it. Which is a big fat fucking if.
Also, Trump might just steal it from somewhere. (Where has all that Venezuelan oil money gone?) And who’s going to stop him? The Supreme Court has already ruled that he can do basically anything he wants.
It was never even actual fiat currency. Just numbers in a computer somewhere.
Exactly, presumed value based upon future worth
and then will there be jobs?
You would assume so…but who knows. We have a wanna be dictator at the helm in the US that has the mental capacity of goldfish, so fiscal responsibility isn’t exactly this administrations forte!
I forsee layoffs instead of more jobs.
It is quite possible, the giant hiring spree during covid and immediately after was never going to last unfortunately. Maybe after the midterms things will change in a positive direction.
They are desperately trying to stave off the crash until Democrats have a majority so it can be blamed on the Democrats.
While that has worked in the past, I don’t think it’s gonna fly this time.
Optics matter and right now GOP are far more all in on AI, it’s also Cheeto’s halfway point, things crashing badly with Dems having some power won’t look like it’s the Dems in control.
The fact that the economy took a bad turn right when he came into office is an association that most people won’t forget.
Trump isn’t the only American with the memory span of a goldfish, it is rather endemic.
Ahh good point, it is certainly a method that works for them since they really don’t have much else to campaign on.
What a terrible insult to goldfish.
It is, but there is no reason to be coy about it.
But can you be koi about it?
Man, there is something really fishy about your question? Lol
No, the billionaires will continue to hoard.
If you can’t afford bread, you should just eat cake.
If you can’t afford bread, you should just eat
cakethe rich.
So… it’s an AI boom, or the bubble is about to burst? They need to pick a lane on which thing they want us to be concerned with.
No bailouts for these leeches
