"In these circumstances, the job of investment bankers is to convince lenders to assume risks they do not really understand. ‘We’ve seen this story a million times’, the analyst warns, not least in the run-up to the 2008 financial crisis."

After #AI

https://newleftreview.org/sidecar/posts/after-ai
#artificialIntelligence #tech #BigTech #AIhype #AIbubble #assetBubbles #dataCentres

Here are my thoughts on speculation-driven hype cycles, emotional economics, and the Gartner cycle extended.

I see this as especially important now that both 47 and the 1st Lady have each launched scummy crypto tokens as a means of self enrichment.

https://substack.com/@impulsivevulcan/p-153240505

#assetbubbles #hype #cryptocurrency #economics

I love old books, especially when they're free online due to expired copyright! First published in 1841, Charles Mackay's Extraordinary Popular Delusions and the Madness of Crowds is as relevant today as it was 183 years ago.

It inspired the economist John Maynard Keynes, who argued in The General Theory of Employment (1936) that markets are not always rational, but instead are moved by "animal spirits".

https://www.gutenberg.org/files/24518/24518-h/24518-h.htm

#MassHysteria #AssetBubbles #FinancialCrises #Cults #MAGA #QAnon

@gallerymjb
The #studentVisa wrought goes against that alone. We don't know what is put on the papers, #Australia has #economicMigrants from many places.

There's also #migrantWashing, and the #migrationLaw and #refugeeProducer complex.

What we call for are sensible levels. Bad actors constantly lobby #politicians for more #foreignWorkers to work in industries many of which are unethical but even ethical businesses are undeserved if we instead choose to pump #assetBubbles over nurturing them.