Because most of the regulations put in place since the Great Depression and most social safety nets have been dismantled.
2009 was no egalitarian utopia by any measure, but the vulnerable are MUCH more vulnerable now as the regulations and organizations that existed to help people in need have largely been dismantled.
To name just one example, food banks are already being stretch beyond capacity NOW and there’ll be much more need for them when the bubble burst and people start losing their jobs to cover rich people’s losses.
AI is not a foundation of our economy like the housing market
Not inherently, no, but they’re trying to force it to become one. Haven’t you noticed how they’re basically trying to replace everything with it?
Apart from how they’re trying to replace as many workers with LLMs as they possibly can, companies like nvidia (now the most valuable company in the world on paper) have all but abandoned consumer products in order to immediately sell more product to data centers than they’ll be able to produce in several years if not decades.
And it’s not just them, all GPUs, RAM, storage, etc capability is being aimed at satisfy the few AI loons that are empowered by temporarily unlimited funds and burdened by hardly any regulations and safety rails.
They have unlimited power, absolute impunity, and no caution. That combination didn’t work out well for regular people when it was Wall Street in 1929, and it sure as hell won’t when THIS bubble bursts either.
Because most of the regulations put in place since the Great Depression and most social safety nets have been dismantled.
2009 was no egalitarian utopia by any measure, but the vulnerable are MUCH more vulnerable now as the regulations and organizations that existed to help people in need have largely been dismantled.
To name just one example, food banks are already being stretch beyond capacity NOW and there’ll be much more need for them when the bubble burst and people start losing their jobs to cover rich people’s losses.
Not inherently, no, but they’re trying to force it to become one. Haven’t you noticed how they’re basically trying to replace everything with it?
Apart from how they’re trying to replace as many workers with LLMs as they possibly can, companies like nvidia (now the most valuable company in the world on paper) have all but abandoned consumer products in order to immediately sell more product to data centers than they’ll be able to produce in several years if not decades.
And it’s not just them, all GPUs, RAM, storage, etc capability is being aimed at satisfy the few AI loons that are empowered by temporarily unlimited funds and burdened by hardly any regulations and safety rails.
They have unlimited power, absolute impunity, and no caution. That combination didn’t work out well for regular people when it was Wall Street in 1929, and it sure as hell won’t when THIS bubble bursts either.