Top Economist: The Unthinkable Is About to Happen to the Global Economy

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Künstliche Intelligenz
„Investoren werden sehr viel Geld verlieren“

„Diese Modelle sind gut darin, auf Basis riesiger Datenmengen Wahrscheinlichkeiten auszurechnen. Sie verstehen aber nicht, worüber sie sprechen“

Der Neurowissenschaftler und KI-Unternehmer Gary Marcus warnt seit Jahren, dass der Boom der künstlichen Intelligenz auf einem Missverständnis beruht. Jetzt häufen sich auffällig die Stimmen, die auf seine Linie einschwenken.

http://www.sueddeutsche.de/kultur/kuenstliche-intelligenz-risiken-blase-finanzkrise-li.3372115

#AI #KI #llm #financialcrash

KI-Kritiker Gary Marcus: Warum die Technologie an ihre Grenzen stößt

Der Hype um KI ist gigantisch, doch die Technologie hat massive Schwächen. Ein Gespräch mit Gary Marcus über die drohende Finanzblase.

Süddeutsche Zeitung
David Dayen at The American Prospect has a decent explainer article The AI Bubble Is Bigger Than You Think. It gets into the so-called "private credit" mechanisms being abused to inflate this bubble, and why they are so dangerous. This stuff used to be called "shadow banking" because private entities that are not chartered banks are essentially providing banking services to other private entities. What happens if there's a panic and the equivalent of a bank run? Who knows!
Silicon Valley and Wall Street are in sync: conjuring up sketchy credit deals that are pointing us toward another financial crash.
...
“We have sealed the deal on another financial crisis—the question is size,” said one former congressional staffer.
#AI #GenAI #GenerativeAI #AIBubble #grift #CasinoEconomy #FinancialCrash #GreatRecession
The AI Bubble Is Bigger Than You Think

It’s not just OpenAI that looks overhyped. There’s a whole mountain of sketchy financial engineering underneath.

The American Prospect

Bankers' bonuses to be paid more quickly. Another un-learning of the lessons of the 2008 financial crash... just in preparation for the impending next & bigger one.

https://www.theguardian.com/business/2025/oct/15/banker-bonuses-to-be-paid-faster-after-uk-regulators-loosen-rules

#ukpolitics #financialcrash #bankers

Banker bonuses to be paid faster after UK regulators loosen rules

Bank of England and Financial Conduct Authority reduce deferral period from eight years to four

The Guardian

"Jon Stewart measures Trump's weight on the authoritarian scale. Between the president's refusal to correct the wrongful deportation of Kilmar Abrego Garcia to his incompetence on a variety of issues, Donald's dictatorship isn't looking very healthy"—The Daily Show

Jon Stewart on Kilmar Abrego Garcia’s Deportation and How Trump Fails to Deliver | The Daily Show >

https://youtu.be/OZbCyBMfy2c?feature=shared

#JonStewart #USA #facts #authoritarianism #DonaldTrump #buttlickers #health #insanities #bigotry #scrubs #deportations #racism #sexism #misogyny #RealGold #GoldPaint #TrumpeRegime #disaster #FinancialCrash #humour #video

Jon Stewart on Kilmar Abrego Garcia’s Deportation and How Trump Fails to Deliver | The Daily Show

YouTube
#OTD 1987 after latest #FinancialCrash news reports of suicidal #StockBrokers, I headed up to the Carnelian Room for cocktails atop the #BankOfAmerica HQ, just a block or two from trading floor of #SF #Pacific #StockExchange , was kinda hoping to see some stressed out #BlackMonday #Investors lose it & jump, but people just sat around drinking & muttering...oh well

#KeirStarmer aims to turn the spotlight onto #Sunak’s career before politics in the lead up to the first #TVdebate about the #GeneralElection

#RishiSunak must face questions about the fortune he earned at a #HedgeFund which engineered a deal at the heart of the [2008] #FinancialCrash, #Labour has said, as it prepares to launch its first major attack on the prime minister ahead of the election debates.
https://www.theguardian.com/politics/article/2024/jun/02/pm-must-face-questions-about-hedge-fund-at-heart-of-financial-crash-says-labour
#GE2024 #ToryBehaviour #PrivateProfitPublicCost

PM must face questions about hedge fund at heart of financial crash, says Labour

Keir Starmer aims to turn spotlight on Sunak’s career before politics in lead up to first general election TV debate

The Guardian
From 1998: "Anxiety about stock prices is thus to a great extent concern over whether the economy can continue to grow at a steady pace without a rise in inflation. But neither the path of the economy nor changes in stock prices can be predicted with much confidence."
#macroeconomics #finance #corruption #markets #stocks #investment #FinancialCrash
https://www.nybooks.com/articles/1998/06/25/how-to-think-about-the-stock-market/
How to Think About the Stock Market | Roger E. Alcaly

Are stocks overvalued? Federal Reserve Board Chairman Alan Greenspan raised the issue most famously in December 1996 when he said he was worried about

The New York Review of Books

2024: #People #Starve As The #RichGetRicher

During the last ten years, (which saw the 2008 #financialcrash, #Covid19 and the #Ukraine/#Russia conflict) the collective wealth of this tiny shiny gang has increased by 120%

#Women #Transgender #LGBTQ #LGBTQIA #SocialJustice #Wealth #IncomeInequality #LetThemEatCake

https://www.counterpunch.org/2024/05/24/2024-people-starve-as-the-rich-get-richer/

2024: People Starve As The Rich Get Richer

Earning enough to pay the rent or mortgage, cover utility bills and travel costs, buy food and have the occasional coffee is impossible for many. But its

CounterPunch.org