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The long awaited Gerard/Zitron crossover: I'm on Better Offline saying the stuff I always say, about OpenClaw, Moltbook and the coming Great Depression 2 (podcasts.apple.com)
submitted 9 months ago by to c/techtakes@awful.systems
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[–] [S] 13 points 9 months ago (4 children)

I outlined it here a bit. Basically there's a lot of Wall St fuck fuck games - AI is just one of them - that's a tottering heap of dollar-denominated accounting entries for lies and trash. But also, the institutions have been white anted. Trump's pick for the next Fed chair is a bitcoiner who espouses Austrian economics - that is, literally the same gold standard economics that made Great Depression 1 worse.

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  • [–] 7 points 9 months ago*

    Fortunately, most of the rest of the world economy is heading in the opposite direction and building new free-trade zones without the US. I think the US in a few years will start to feel a lot like the UK today, with everything falling apart, everyone becoming poorer and less mobile, and anger about Hispanics instead of Poles and trans people.

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  • [–] 5 points 9 months ago (2 children)

    I guess my confusion is this – at what point does reality exert any influence on the lies-and-trash accounting? What in the physical reality is the reason they can't just keep fapcircling the economy forever?

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  • [–] 6 points 9 months ago

    The power company wants money to power your datacenter. The refinery wants money to deliver five 40-foot containers of germanium to nvidia in Taiwan. OpenAI staff want money to buy houses in California. If you are really rich, banks will lend you money against OpenAI or nvidia equity, but then stock prices falling can trigger a chain reaction where the bank calls the loan, you need to sell equity to give them the cash they want, driving down the stock price, others get scared it will drop further and sell ...

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