- cross-posted to:
- fuck_ai@lemmy.world
- technology@piefed.social
- cross-posted to:
- fuck_ai@lemmy.world
- technology@piefed.social
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Wall Street didn’t learn from past events and is doomed to repeat history?
Shocking… /s
until the US regulates it’s financial markets for the common good like most of the rest, it will forever remain the country of shortsighted degenerate gamblers
Oh, they learned. We thought them that no one will be accountable and that the greediest will be bailed out and continue to get richer and richer. We are keeping jackals in our house, and we are giving them a pat on the head and a tasty treat every time they bite our children.
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All reasoning must crumble before one prime directive: The richest can only get richer. No matter the cost.
They learn how to profit the next time.
they profit from every crisis already. can’t let a good one go to waste.
They’ve learned they can get away with it.
This is code for “Hey government, you better be ready to bail us all out”.
I will get out totally clean of that, so thank you and fuck you
Good good. Let it all fall apart.
Don’t threaten my good time with a threat
The sooner the better. Can’t wait!
Kaboom! 💣 💥
you’re kidding right?
those billionaites that gambled the US economy on an executive borwnosing machine will get a bailout paid by those who lost healthcare and can’t afford food. 2008 all over again.
We should improve society somewhat.
I believe the French had a nice invention for that. And it’s not the ‘pain au chocolat’…
didn’t they ended up with an emperor?
we learned that violent revoluts without unity and theory will succeed in creating another unfair system.
Organise, join local groups, join those groups with other groups.
tbf the 40 years after the french revolution were called “the terror”
that sounds like antiameticamism and therefore legally making you a terrorist
It makes more sense if you read it as a threat.
If an AI bubble pops, no one is getting out clean.
He means the taxpayers.
Let the taxpayers prop up failing companies. Corpo welfare is the good kind of welfare even though most of the money gets sucked up by the Executives and share buy backs.
At least China is right about not bailing out their companies when their own property bubble collapsed.
The bar can’t be “not as corrupt as America”. That’s not a bar, that’s the ground. They can and should do better.
Oh I’m not trying to defend or exalt China. I’m saying that we should be like China when it comes to dealing with billionaires. Or even better, be like Vietnam, when the court ordered a billionaire who defrauded thousands to pay in time or be executed.
Agreed.
The amount of bailing out should be inversely proportionate to the amount of people fired during record profits.
Privatize the profits, socialize the losses
“We should privatise service X so it’s more efficient” X collapses “We can’t afford to let X fail despite the fact that it ran at massive profits all the way to it’s collapse so we’ll bail it out” THEN WHAT WAS THE POINT OF PRIVATISING IT IN THE FIRST PLACE?!
You can take on the burden of running the thing and therefore the cost of making it public, or you can allow it to be private with the caveat that they must pay a substantial (enough for the government to not be at a net loss) tax as a kind of insurance in the event a bailout is needed, but don’t take on the worst of both worlds where the profits are private and the losses are public.
Make no mistake. Just like the housing bubble of 2007 and 2008 there are people poised and ready to make tons of money off of the deflation of the AI bubble.
Jacked to the tits…
The money to be made is on predicting when, not it it’s going to burst. Otherwise we’d all be betting the house on it.
Actually it’s more about the how. The people betting against the housing market put their chips down as early as 2005. They just had to find a way to profit from it.
Interesting. And what was the how back then?
Fuck it we ball. *gets a needle*
Due to the sheer number of articles surrounding the AI bubble popping; I’m coming to the conclusion that this has already started.
That money goes somewhere so some people will be getting out better
It doesn’t work like this though. If your pension fund is heavy into a company that suddenly loses 90% of its value, your pension suddenly becomes worth a lot less…
Some people wouldn’t be those people then would it?
I know what you’re saying, but if a company is valued at 10 billion for instance, then gets revalued down to 100mil, that difference has not gone anywhere, it has simply ceased to exist. And if you had invested 100k to own 0.001% of the 10 billion company, you now only own 0.001% of a 100 million company. Your investment has lost its value, with whatever implications that has for you. The value hasn’t shifted around, it’s ceased to exist!
Translation: we juiced the bubble so good trying to make a trillion dollars that when it pops, the world economy is coming down with it.
More like we juiced the bubble so good trying to make a trillion dollars that you (world governments) better not let it pop.
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Don’t worry, I’m sure there will be a huge government bailout that the people have no say in. Remember 2008? I don’t remember voting to give away piles of money to the bankers.
You know what Iceland did when there was suspicious investing and they had bank failures? They put the bankers in jail! What did we do? We gave them a bonus!
God bless America, because we’ll need it!
America is really bizarro world compared to other countries and how they handle things like this.
It just seems like in America, you can fail upwards, con people and still get out filthy rich.
you can fail upwards, con people and still get out filthy rich.
Only if you con the poors. If you con someone who’s rich or “powerful”, then you get punished.
It’s only bizarre until you realize this isn’t a failure of the system. This is a success for the people getting the payout. They have lobbied and deeply infiltrated the government. The US government doesn’t serve the citizenry anymore. It serves the rich and powerful. The rest of us are just useful as consumers to funnel money to the corporations.
Nah, most of Europe did exactly the same thing as America last time around. Hell the EU went out of its way to make sure bankers didn’t lose money (how do you think Greek Debt which was entirely in private hands ended up in the hands of the EU, which then turned around and forced Austerity of Greece “to avoid losses of money of EU taxpayers”) - the Corruption was just as bad on this side of the pond as it was on the other.
Iceland stands out because they were almost unique in the West in making the bankers pay for their shenanigans.
