At a quick search the total debt for all US households is 18.8trillion.

For AI tech companies that is 0.7t, though this probally doesn't include shadow banking credit, which reports say is estimated to be dangerously high.

The that that these numbers are only one decimal order apart is despicable. We're talking a handful of AI megacorps vs literally every single individual.

*US-citizens

r/USdefaultism

Companies are relying on adds everywhere, planned obsolescence and shitification to show better results every year.

We'll be lucky if the index loses only 2/3rds of its current value.

Both is the same. The only difference might be who is holding the bag in the end.

The money being spent to build data centers, buy equipment and electricity is real. The fact that openAI owe softbank $40bn is real.

The future returns from these present day expenditures are imaginary. Whether softbank get their loan back is speculative. Equity raises are even more so.

Kind of an odd phrase, given that money as a concept is fundamentally both of those things at all times.

I think it's both. They borrowed money on the future of AI.

Don't worry, it will be real money when you have to pay your part.

Or is it money that has now been turned into fictional non-existent money, because it was stolen from our own future, where it was previously being held (we thought) safely in trust for us. They're stealing the money from us. From our taxes, from our government funds and institutions, from our pensions. It's our money. At least it nominally was, before all this happened. We're being looted. The robbers are in our vault, they are packing our money into bags labelled "AI" as we speak.

Yeah. In the US, the system works like this. For every dollar minted, it is an IOU to the very big bank as per the contract.

What would be consequences of a crash?

One thing I'm thinking is that a crash would likely lead to higher interest rates for everything.... but fossil energy is also highly capital-intensive, too, and runs only on cheap borrowed money, too, therefore..... wait it is hard to grasp how that could turn out.

Anyone has tips for potato gardening?

Which means someone is out there collecting the interest cost of all that magic money...

Guess who it is!

Too big to fail. Privatize the profits, socialize the losses. Unless we can vote in enough representatives that won't put up with that absolute bullshit.

You mean we’ll be in the streets when they try to right? Because just being defeatist about it is an absolute pathetic take.

No worries, it's only American tax payers footing the bill and they voted for this.

Maybe that's why the stock market is down. Billionaires are selling and cashing in from their own stocks. They know the bubble will burst soon enough.