I think a big part of the AI hype might be that the oligarchs decided that AI is how they're going to be able to compete with China. They're drinking their own koolaid thinking they're going to be able to automate everything within a few years. As a result we're seeing effectively unlimited money being poured into this tech.

At this point I feels like it's all part of one big "everything bubble." The whole damn western economy is one big ass bubble. It's just not a big, uniform bubble, but like a lumpy bubble formed by all the bubbles mushing together. And right now, AI is one of the more prominent ones.

And yeah, none of it will be allowed to pop unless something utterly extreme happens. Wall Street has spent decades changing the rules. They also pretty much have all the money now. Unlike in the past when the workers could actually do bank runs or all pull out of a stock. Now though, the working class doesn't have a pot to piss in. Wall Street has all the money.

Then they use assets from debt that you can't file bankruptcy on (like Student dept). Things got dicey with all the remote work crashing the corporate real estate markets so they had the government start attacking businesses and forcing return to office shit. They control it all at this point. If Wall Street said the bubble will pop unless we start grinding children into paste, the government would be knocking on every door. Police would be stomping children in the streets. Hell some people would willingly drag their kicking and screaming children to the grinder for the glorious economy.

Good point. I suppose this might be the extract phase of the bubble. Businesses have been known to do this as they start with market destroying cheap prices, then once the market is wrecked and eveyone else wont come in, they jack up the prices until consumers jump, then they jack up business prices until businesses jump and then they die (pretty much cory doctorrows main narrative). It sounds like the stock market is doing the same (which makes sense if you think back to the penny stock era when workers could invest in cheap stoch, which turned out to be a scam).

From my perspective stocks are a huge scam. But as an aspiring dialectical materialist I'm happy to be shown a better idea.