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Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’ (fortune.com)
submitted 1 year ago by to c/usa@midwest.social
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The entire US economy right now is 7 companies sending a trillion fake dollars back and forth to each other, but it's totally not a bubble according to grampa Powell.

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[–] 7 points 1 year ago (3 children)

We need bag holders and we need them NOW!

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  • [–] 1 point 1 year ago (2 children)

    from what ive read, it could be retail that would be left holding the bag, and when that happens people in those industries will start losing jobs.

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  • [–] 1 point 1 year ago

    Not sure what you mean by "people in those industries". In investment parlance, "retail" isn't an industry, its individual investors. Y'know, people on the Robin Hood app YOLOing their life savings into Nvidia. So which industries are you referring to?

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