The insane AI push is purely driven by fear of being left behind.
No one is actually stopping to ask whether it is all worth it.
The insane AI push is purely driven by fear of being left behind.
No one is actually stopping to ask whether it is all worth it.
arguably, a crash represents the poor/middle classes best chance at obtaining true financial independence. oligarchs don’t call working the labor trap for nothing, wages are capped by design (especially in amerikka)
fundamentally what a crash represents is overleveraged gamblers getting forced to sell, debt-laden businesses (likely also over-leveraged) getting foreclosed on etc.
for cash-poor people who understand basic market mechanics, a crash is like shooting fish in a barrel. only people really hurt by it are “new money” who can’t do basic math, people that panic sell seeing their retirement lose half it’s value overnight, people who don’t realize the whole (US) market is a casino designed to take your $ etc.
It’s not just that people panic, it’s that it takes time to recover. If you’ve got generational wealth, you let it recover. If you need to pay for housing or food, you sell assets, at a reduced rate and take the loss.
People panicking is only half of it.