nixCraft 🐧Mar 5
While everyone busy with AI and war news, China set its lowest growth goal (4.5%–5%) since 1991, due to global and domestic challenges. India, the 4th largest economy, also struggles with high unemployment rates. These are warning signs from manufacturing and consumer driven economy of an upcoming disaster. Meanwhile, US growth relies solely on 7 mega companies with AI craze. It is not just China & India, EU, Japan other ex-USA economies are showing sluggish. (1/n)
https://www.bbc.com/news/articles/cqxddwl93qjo
China sets lowest economic growth target since 1991

It is also the first time the target has been lowered since it was cut to "around 5%" in 2023.

Show threadnixCraft 🐧Mar 5
The US economy, currently driven by an AI bubble, is keeping its head above water for now, but it is only a matter of time before everything goes south. If you didn’t experience the 2000 or 2008 crises (I hope nobody sees it), I urge you to take precautions, starting by reducing unnecessary spending. Trim it down. If possible, build 6–12 months of savings to prepare for potential job loss. Avoid buying items on credit. Economic crashes are like harsh mistresses, they do not forgive easily. (2/2)
Show threadDougMerritt (log😅 = 💧log😄)
@nixCraft
Yep. For months now I've been feeling like an actual depression is looming. Presumably the start will be when those 7 mega companies with AI craze crash, and people then start saying "oh yeah, the bubble has popped now, AI is cool and all but it's not what it's hyped to be".
Mar 5 at 1:28pmWeb
Show thread1337 $#!+ I did thatMar 5
@dougmerritt @nixCraft you must balance the bubble against the end of moore's law. It is not the #AI. It is putting the means of productivity into a factory as that means has crashed on the size of a transistor. It is not the #AI, it is making compute a metered service.