"the stock market looks like gambling but it's actually fraud"
Pablo Torre's investigation into all the ways money got funneled to Kawhi as part of the Clippers stadium build is illuminating; so much corporate expenditure is just corrupt exchange it's ridiculous.
During the Dotcom and subprime crashes, the federal government had some semi-compentant beaurocrats to mitigate the effects and speed recovery. There was also multiple countries that worked together to mitigate the issues.
Today the AI bubble is much more massive than either of the previous. All of the fundamentals of the economy are weakened due to trade wars and international cooperation is unlikely. The effective beaurocrats have been laid off due to doge and other shenanigans.
11 Comments
eestileib@sh.itjust.works · 39 pts · 22d
"the stock market looks like gambling but it's actually fraud"
Pablo Torre's investigation into all the ways money got funneled to Kawhi as part of the Clippers stadium build is illuminating; so much corporate expenditure is just corrupt exchange it's ridiculous.
icerunner_origin@startrek.website · 6 pts · 22d
The only question I have is how hard will this bubble pop compared to the dotcom or subprime mortgage crashes?
The_v@lemmy.world · 5 pts · 22d
During the Dotcom and subprime crashes, the federal government had some semi-compentant beaurocrats to mitigate the effects and speed recovery. There was also multiple countries that worked together to mitigate the issues.
Today the AI bubble is much more massive than either of the previous. All of the fundamentals of the economy are weakened due to trade wars and international cooperation is unlikely. The effective beaurocrats have been laid off due to doge and other shenanigans.
So it's going to be bad, like really, really bad.
eestileib@sh.itjust.works · 3 pts · 22d
I think this one might take down the US dollar tbh.
Bessent is way out of his depth.
BurgerBaron@quokk.au · 22 pts · 22d
Incestuous bubble.
MushuChupacabra@piefed.world · 10 pts · 22d
Churning the funds,churning the funds.
terranoid@lemmy.cafe · 5 pts · 22d
He looks so fucking stupid, like a bad actor trying to play an evil genius
homesweethomeMrL@lemmy.world · 5 pts · 22d
Circle jerks
AbsolutelyNotAVelociraptor@piefed.social · 4 pts · 22d
It's the circle of
lifeAIAnd it moves us all
Through
despairmoney andhopedebtThrough
faithVC's andloveIPOsTill
wetheyfindcrash ourplaceeconomyOn the path unwinding
In the circle
The circle of
lifeAI🦁
Aceticon@lemmy.dbzer0.com · 3 pts · 21d
More circular finance.
Alexstarfire@lemmy.world · 3 pts · 22d
Ewww