You mean the big short guy will earn money? Interesting. Hopefully that means I also happen to earn money as well.
It always amazes me just how stupid all these billionaires actually are. It just highlights the fact that they did not actually “earn” that wealth, in the first place. If it were truly a matter of talent and skill, they wouldn’t be crashing the economy every five to ten years…but here we are, for the fifth(?) time in the last few decades?
They aren’t stupid, they are gambling and they toss their weight to stack the bet in their favor long enough so that they can cash out and not be left with the bag when it crashes.
Every recession, richs get richer and we get poorer.
The crashes are deliberate. It allows them to scoop up infrastructure for pennies on the dollar. It’s not a coincidence that the largest ever upward transfer of wealth occurred during COVID. That was the elite consolidating their holdings. And evidently, they’re not exactly satisfied yet and want even more.
Crashing the economy is only stupid if you don’t have enough liquidity to capitalize on it. That or if you actually give a shit about people.
Are they really stupid if they make billions?
Yes. Exploitation apparently doesn’t require intelligence. Just a total lack of empathy.
The real stupid takes are the correlations between wealth and intelligence we made along the way.
In a way it requires you to be an apex predator of your own species. They are necessarily stupid but greedy and psychosocially fucked. Maybe smart in certain ways but blindingly stupid in others. And also cannibals, which occurs to me now, since they basically hunt and consume the essence of poorer humans. Can we make that cannon?
You may think it’s stupid but these people are still going to make ass loads of money out of this entire ordeal. Because the entire system is rigged in their favor.
You get a bail out! You get a bail out!
Its like the movie Big Short where despite news of bankruptcies stocks kept going up for a long time. It was when the banks shored up their own shorts that they actually let the market crash.
don’t forget, they’re once in a lifetime stock market crashes. we’re on, what, 5 now? in the last couple decades.
We really need to find a way to make the billionaires fight each other again.
If only the AI could have given them a heads up.
Just as accurate as tarot cards…
Hey man, I do tarot, read it, then ask my AI what it thinks. It feels real.
/s
…no but for real, I like do draw tarot, and the AI has helped me get better at reading. It’s for funsies; I don’t take it seriously.
Yeah bro, I burnt a forest down yesterday, but it’s cool, I did it for the funsies
That’s awesome bro, I love gender reveal parties 😎
I used my microwave for a minute.
What deck is this from?
It’s from Grant Morrison’s Nameless https://retcon-punch.com/2015/06/12/nameless-4/
Sorry, you want the Tower here.
Peril up here, peril down there…
the tower is actually actually!! about paradigm shifts. the thing you hold dear out of here 👉 and something new will take shape in its place. not necessarily bad, but very uncomfortable
Holy shit. That’s almost one Elon Musk’s Salary dollars
That’s more or less how I deal with any economic numbers these days. Just one mans salary. No big deal.
He eventually buys up all ai companies for nickels on the megadollar and copy strikes all unauthorized ai providers.
The only resistance left is the decentralised group of people running outdated and decensored LLM’s for erotic RPG.
We’re doomed
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Oh no?! The imaginary money that doesn’t actually exist now has less than before?! Whaaa! I’m sad now.
Millennials out here preparing for their 5th once in a lifetime market crash.
I’m just waiting for cheap 60xx series gpus.
Most of these “GPUs” have no video output :)
Sixth for GenXers. So tired of this shit.
I’m an Oregon Trailer, are you counting the savings and loan crash, or am I missing one in the 90s?
- savings & loan
- dot com
- 9/11
- housing bubble
- Covid
- AI
It’s good to have crashes regularly, that’s when you can buy on the cheap
This is why the people who have lots of money love instability, they get to profit off the losses endured by people who don’t have enough to rebuild.
Now if only I had money
All of mine is tied up in the stock market!
Wait
I went through the oil embargo 70s, a couple of Reagan recessions, a Bush I recession, all before 2000, when Republicans really got their nation-destroying chops together for some proper, world class economic irresponsibility.
Those weren’t on the scale of the housing and Covid crashes. Dot con was pretty bad, but still nothing like 2007/8
The 70s was really terrible, and lasted nearly an entire decade, but yeah, everything between that and 2008 was secondary.
Still, it demonstrates that the economy is usually at its worst under Republicans, and disastrous under MAGAs.
They have the self-described reputation as economically responsible, but in reality, they always screw up the economy. Carter, Clinton, Obama, and Biden all entered office with an active Republican economic downturn of their own making, and we’re forced to clean up the Republican mess before they could get their own agenda underway.
Biden not only had an economic recovery to navigate, he also had to launch an emergency Covid vaccination program, and he accomplished both ahead of schedule. If he had dealt with the severe national security threat of MAGA, and crushed them, and kept them out of office under the 14th Amendment, he’d be one of the Top 10 presidents of all time. Instead, his Covid/Economic successes will be forgotten, and he’ll be in the bottom 15.
Let’s see 2000, 2008, 2020, what am I missing?
History rhymes so 202…
I feel like I’m taking crazy pills.
That’s the base of the new food pyramid.
I thought it was microplastics. I know that the top is a single egg,
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Bubble bursting…
People who are somewhat liquid going to do some bargain shopping.
The good ol’ pump and dump.
(Btw, guys, A.I. threat is way overblown.)
A.I. threat is way overblown
This assumes AI will be all knowing and all powerful and will turn to evil.
But bad, incomplete, dreaming AI unleashed by CEOs, in search for more profit margins, are a real threat. Imagine air traffic control under AI that just screws up and cause planes to collide. Or AI robots who go awry.
“AI” has already driven more than one person to suicide… no it’s not overblown.
That’s a lot of damage!
It’ll get worse.
This is what Trump wants to justify lowering rates. Trump wants catastrophe and terror to claim hes the only one who can fix it. When in actuality he caused the problems, has declared 7 bankruptcies in his business Career, and has now bankrupted America by having a shutdown and not paying it’s employees, snap programs, cancelation of USAID and many much more.
Lots of people says gg here. But trump is to the economy what global warming is to the climate. It spikes up and down. The nasdaq still has double digit gains on the year after this drop. When the bubble really bursts, the fall is going to be much much bigger.
That said, the conspiracy theorist in me says this is just a thing orchestrated by companies that want to buy AI startups at a better price. Apparently there has been a ton of consolidation going on in that space.
