nixCraft 🐧The AI bubble is the only thing keeping the US economy together, Deutsche Bank warns: When the bubble bursts, reality will hit far harder than anyone expects https://www.techspot.com/news/109626-ai-bubble-only-thing-keeping-us-economy-together.html
James H McLaren@nixCraft Wow, this is crazy. A thing that has essentially no practical value is inflating the US economy.
MissConstrue@JamesHMcLaren @nixCraft if you look at the Shiller PE/10 we are headed for another crash like the dot com and 08 housing bubble
https://www.multpl.com/shiller-pe
I wonder how much it’s gonna cost the taxpayer to bail out the billionaires this time.
Xenofact (he/him)
@MissConstrue @JamesHMcLaren @nixCraft my take as well, maybe worse as so much is vapor. I dont think well see depression per se. But as the pain wont be evenly distibuted for many it wint ve any different.
@RevXenoFact @JamesHMcLaren @nixCraft
I don't think we're looking at 1929...because I think it might be worse.
In 1929, a lot of families had gardens. Backyard chickens were not uncommon. There were local farms in every region that supported agriculture. There were local dairies in most regions.
What stopped large scale famine from happening was that we had an internal food production system that was localized.
We do not have that now. With TrumpTax (tm) tariffs, food is a significant cost for most Americans. Some economists are putting it at near 30% of income for poverty level earners.
If we have a major crash, there will be widespread hunger and we have no policies in place to manage that, now that they burned all the usaid food and dismantled the agency.
This country is already on the tipping edge of falling into serious chaos, an economic crash will push it over.
I just hope Bob returns in time for me to leave. ;)
crumbletiltskin@MissConstrue @RevXenoFact @JamesHMcLaren @nixCraft Grow your own food. Get your neighbours to grow food, your street, your suburb.
@crumbletiltskin @RevXenoFact @JamesHMcLaren @nixCraft
We just demolished our in ground pool, rather than spend 10x the cost to fix it, and reconfigured our irrigation, we’re prepping for a full acre of stuff in the spring plant, but I don’t know that we can grow much this year before the annual icepocolypse.
We just demolished our in ground pool, rather than spend 10x the cost to fix it, and reconfigured our irrigation, we’re prepping for a full acre of stuff in the spring plant, but I don’t know that we can grow much this year before the annual icepocolypse.
Jack Linke 🦄
Crunchy@jack @MissConstrue @RevXenoFact @JamesHMcLaren @nixCraft Just like how in The Grapes of Wrath everyone just ate all the extra food the farms had!
@crunchy @jack @RevXenoFact @JamesHMcLaren @nixCraft My great aunt was a child in the dustbowl. In her 90s, she was still twitchy about not having three months pantry stored.