AI is riding the surface of a monster bubble and anyone gleefully waiting for the pop has no idea what that’s going to do the US economy, and then everyone elses.
All but 1% of US economic growth last year was AI development and speculation. Combine that with the US passing, for the first time, 200%+ on the Buffett Index and we are screwed.
For reference, the Buffett Index is total stock market valuation vs. GDP. There is better than twice the dollars in the stock market than we produce in a year. The index was around 130% in 1929 and 2008.
AI is riding the surface of a monster bubble and anyone gleefully waiting for the pop has no idea what that’s going to do the US economy, and then everyone elses.
All but 1% of US economic growth last year was AI development and speculation. Combine that with the US passing, for the first time, 200%+ on the Buffett Index and we are screwed.
For reference, the Buffett Index is total stock market valuation vs. GDP. There is better than twice the dollars in the stock market than we produce in a year. The index was around 130% in 1929 and 2008.