BuckFutter comments on Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom

[–] BuckFutter@timeyak.com 16 points 1 week ago (7 children)

Ohh absolutely, it was devastating to watch, and then to see corporations being bailed out because they were too big to fail. The big question is, is this really the start of a serious crash where the circle jerk of circular money pumped between 4-5 megacorps comes to an end, or do things really go crashing down from here. You need sanity to stabilize…the nuts have spun off the lugs that were holding the wheels of the economy to the hub…i think one wheel just wobbled a little…

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[–] pelespirit@sh.itjust.works 10 points 1 week ago (1 child)

I hope you're not excited for that to happen is what I'm saying. Even if you're not American, you will feel this.

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[–] BuckFutter@timeyak.com 12 points 1 week ago

Ohh absolutely not excited at all. Its a pending shitshow…I didn't vote for any of this and have already cast my vote to have all these idiots removed from office.

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[–] shalafi@lemmy.world 5 points 1 week ago (4 children)

There won't be an AI bailout as with the auto industry and banking. AI hate is bipartisan and no national-level politician is dumb enough to throw public money at them. They're not a huge employment/manufacturing concern like autos and they're not the backbone of our financial system.

(And once again, I love your lug nut analogy, spot on!)

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[–] BuckFutter@timeyak.com 2 points 1 week ago (3 children)

Greetings again 👋

Yah I agree, I don’t think it will be a traditional bailout like the auto industry though which was forgivable loans, I think it’ll likely come in the form of additional stock purchases by the US government, which is wild when you think about it.

They’re not a huge employment/manufacturing concern like autos and they’re not the backbone of our financial system.

No but they (AI companies and those claiming to be one including chip companies) directly influence the stock market, and this administration is having its day manipulating the hell out of it making a ton of money along the way. So if there is a way for the to make money on it, it will absolutely happen. Also the chip companies have national defense interests and so it’ a similar scenario as the DOD’s mission can not ever be hampered lol. The line must go up lol.

Ha! And thank you.

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