While everyone busy with AI and war news, China set its lowest growth goal (4.5%–5%) since 1991, due to global and domestic challenges.
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The US economy, currently driven by an AI bubble, is keeping its head above water for now, but it is only a matter of time before everything goes south. If you didn’t experience the 2000 or 2008 crises (I hope nobody sees it), I urge you to take precautions, starting by reducing unnecessary spending. Trim it down. If possible, build 6–12 months of savings to prepare for potential job loss. Avoid buying items on credit. Economic crashes are like harsh mistresses, they do not forgive easily. (2/2)
@nixCraft you know things are going just fantastic when your source of Linux memes is telling you “we’re all soon to be financially screwed”.
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While everyone busy with AI and war news, China set its lowest growth goal (4.5%–5%) since 1991, due to global and domestic challenges. India, the 4th largest economy, also struggles with high unemployment rates. These are warning signs from manufacturing and consumer driven economy of an upcoming disaster. Meanwhile, US growth relies solely on 7 mega companies with AI craze. It is not just China & India, EU, Japan other ex-USA economies are showing sluggish. (1/n)
https://www.bbc.com/news/articles/cqxddwl93qjo@nixCraft The economic cash, that's how all bubbles and inflation end. In finance, things don't gradually return to normal; the building simply collapses.
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The US economy, currently driven by an AI bubble, is keeping its head above water for now, but it is only a matter of time before everything goes south. If you didn’t experience the 2000 or 2008 crises (I hope nobody sees it), I urge you to take precautions, starting by reducing unnecessary spending. Trim it down. If possible, build 6–12 months of savings to prepare for potential job loss. Avoid buying items on credit. Economic crashes are like harsh mistresses, they do not forgive easily. (2/2)
@nixCraft India, who are investing heavily on being the droning-scripted-tech-support for LLM chatbots, is dealing with a critical low employment level and even lower salaries.
They just had the largest workers strike, ever.... anywhere. Modi (India's tRump) is tap dancing, HARD, to hide this, and he is failing... also hard.
The hype and the actual investment being poured into that isn't returning even remotely close to what is hyped.
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The US economy, currently driven by an AI bubble, is keeping its head above water for now, but it is only a matter of time before everything goes south. If you didn’t experience the 2000 or 2008 crises (I hope nobody sees it), I urge you to take precautions, starting by reducing unnecessary spending. Trim it down. If possible, build 6–12 months of savings to prepare for potential job loss. Avoid buying items on credit. Economic crashes are like harsh mistresses, they do not forgive easily. (2/2)
The FUNNIESTEST (not) thing about THIS bubble is how come every single techbro friendly moron is going "hurrr... it's NOT a 'bubble' if we can *see* it coming, HA HA GOTCHA", as the bubble builds and everyone thinks it's not a bubble because they read what those idiots are saying.... and then they keep pouring money and giving the LLM bullshit both attention, time,platform... and money. Did I mention money?
Buckle in, hold onto to your butts, this is gonna go pop, soon.
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@nixCraft you know things are going just fantastic when your source of Linux memes is telling you “we’re all soon to be financially screwed”.
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@nixCraft
Yep. For months now I've been feeling like an actual depression is looming. Presumably the start will be when those 7 mega companies with AI craze crash, and people then start saying "oh yeah, the bubble has popped now, AI is cool and all but it's not what it's hyped to be".@dougmerritt @nixCraft you must balance the bubble against the end of moore's law. It is not the #AI. It is putting the means of productivity into a factory as that means has crashed on the size of a transistor. It is not the #AI, it is making compute a metered service.
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While everyone busy with AI and war news, China set its lowest growth goal (4.5%–5%) since 1991, due to global and domestic challenges. India, the 4th largest economy, also struggles with high unemployment rates. These are warning signs from manufacturing and consumer driven economy of an upcoming disaster. Meanwhile, US growth relies solely on 7 mega companies with AI craze. It is not just China & India, EU, Japan other ex-USA economies are showing sluggish. (1/n)
https://www.bbc.com/news/articles/cqxddwl93qjo@nixCraft Let's address the elephant in the room: we all know that never ending growth is impossible. We all know that consumerism at the current rate is not sustainable. We all know how harmful the current system of capitalism is and it is about to break. We need to think what we can do to change things towards a more sustainable future, towards something that actually benefits society and the planet.
But we all run happily towards the end because change is difficult. -
While everyone busy with AI and war news, China set its lowest growth goal (4.5%–5%) since 1991, due to global and domestic challenges. India, the 4th largest economy, also struggles with high unemployment rates. These are warning signs from manufacturing and consumer driven economy of an upcoming disaster. Meanwhile, US growth relies solely on 7 mega companies with AI craze. It is not just China & India, EU, Japan other ex-USA economies are showing sluggish. (1/n)
https://www.bbc.com/news/articles/cqxddwl93qjo@nixCraft This is the logical outcome of stealing all of consumers' money.
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While everyone busy with AI and war news, China set its lowest growth goal (4.5%–5%) since 1991, due to global and domestic challenges. India, the 4th largest economy, also struggles with high unemployment rates. These are warning signs from manufacturing and consumer driven economy of an upcoming disaster. Meanwhile, US growth relies solely on 7 mega companies with AI craze. It is not just China & India, EU, Japan other ex-USA economies are showing sluggish. (1/n)
https://www.bbc.com/news/articles/cqxddwl93qjo@nixCraft
I hope that this time the USA only crashes their own economie
They did already enough damage to Europe the last decade
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R relay@relay.an.exchange shared this topic
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The US economy, currently driven by an AI bubble, is keeping its head above water for now, but it is only a matter of time before everything goes south. If you didn’t experience the 2000 or 2008 crises (I hope nobody sees it), I urge you to take precautions, starting by reducing unnecessary spending. Trim it down. If possible, build 6–12 months of savings to prepare for potential job loss. Avoid buying items on credit. Economic crashes are like harsh mistresses, they do not forgive easily. (2/2)
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While everyone busy with AI and war news, China set its lowest growth goal (4.5%–5%) since 1991, due to global and domestic challenges. India, the 4th largest economy, also struggles with high unemployment rates. These are warning signs from manufacturing and consumer driven economy of an upcoming disaster. Meanwhile, US growth relies solely on 7 mega companies with AI craze. It is not just China & India, EU, Japan other ex-USA economies are showing sluggish. (1/n)
https://www.bbc.com/news/articles/cqxddwl93qjo@nixCraft Lowest growth is still growth... Like a cancer over the planet, devouring everything until there's nothing left.
Or as Greta put it:"The Fairy Tale of Eternal Economic Growth"
Oi! There's still a climate emergency happening, what about investing all that energy on taking care of the only place we have!?
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R relay@relay.infosec.exchange shared this topic
