Yea but we already know that's what they're gonna do regardless of what anyone says.
Just like we already know things are eventually going to get bad enough that killing the epstien-billionare class becomes both moral and necessary.
Yea but we already know that's what they're gonna do regardless of what anyone says.
Just like we already know things are eventually going to get bad enough that killing the epstien-billionare class becomes both moral and necessary.
There's no industry the US government won't bail out, because the US government is corporate sponsored.
We bail out banks.
We bail out farmers.
We bail out military contractors.
... and on and on and on.
Because they "donate" to bOtH pArTiEs, and they expect a return. They don't do this out of charity.
I think it's worth adding that those companies intentionally run shit into the ground, taking the global economy with them, because they know the gov will ball them out.
Aha! the solution is for citizens to become industry. Then they can bail us out.
tHaT's EvIL sOsHuLiSm!
Bailing is the agricultural process of cutting, drying, gathering, compressing and tying up of forage crops into compact, manageable bundles for easy storage and transport.
Therefore, I am all for bailing the CEO's out of AI companies. We can all lend a hand in cutting them down, drying them, gathering them, tying them up and compressing them into manageable bundles for easy storage or... whatever... toss them into a volcano?
cutting them down, drying them, gathering them, tying them up and compressing them into manageable bundles
Sounds like a recipe for jerky. Eat the rich.
Didn't the House denounce Socialism in ALL FORMS earlier this week? Therefore bailouts are no longer possible, right?
Oh, I forgot the rules don't apply to rich people. Silly me.
They forced this nation to take massive risks for their personal benefit. These people should be in prison and their companies and assets seized.
to be fair, we should not bail out ANY industry. if you fail at capitalism so bad you need a bailout- tough shit.
I feel like that depends on the industry and context. For example if say most of a specific industry is based in one or two areas and gets devastated by a natural disaster then fine. But if it's just economic failure then they should be taken private with either the states or the feds getting controlling shares.
state control is actually “public” or “nationalized” right? - not to be confused with “publicly traded” which is not the same as “the public runs the business” (as it would if a state ran it, being comprised of the public)
Yeah every bailout should mean public ownership. It's the taxpayers buying the company.
Uhh.... billionaires asking for bailouts is peak failed capitalism.
First time through bailouts and economic crash?
"Socialism for me, but not for thee"
Can I get a bailout if I manage my money idiotically and go bankrupt?
That’s not how our system works.
Socialism for the rich, bootstraps for the rest.
No, the taxpayer should not have to pay bailouts. But they will, whether they want or not.
Too late. It's already baked in through the insurance industry reinsurance mechanisms.
The worst part is that any bail out would only be enough funding for a few months with the rate they are burning money at compared to their CURRENT revenue.
Bwahaha. Taxpayers will definitely bail out this industry, especially if the crash happens during this administration. That will be true whether or not be force some level of public ownership to reap any rewards that might accrue.
So, GPUs and chips are being collateralized to secure loans and finance underwriting. We’re so fucked.
Bad news: we will be.
Some people are looking forward to the crash because they think these oligarchs are going to have some kind of comeuppance. To that I say: lolololol
Short of a complete societal rejection of the global economic regime, there is no way for us to not be. The expensive deals have been inked. The money has been committed. Parties will be in debt to each other for hundreds of billions of dollars. It doesn't matter if there is a law against taxpayers footing the bill or not, that amount of economic pressure will burst into and flood the larger economy and it will harm us all. It's going to happen no matter what. We're not yet angry enough at the severe economic harm that is about to befoul all of us.
Yeah, I am rather amazed that it seems so fashionable to want the AI bubble to pop, as if we won't all be in the direct line of fire. It's like people that were wishing for the housing bubble to pop back in the mid-00s...the people at the top doing all this shit are not going to be the ones that suffer.
I'd rather the AI bubble were to spin down and have a soft landing, but honestly, I have no idea if that is even remotely possible. It seems we cannot just have a stable economy; it's either tulip bulb mania or it's in freefall because the investor class is not making quite as much money as they think they are entitled to.
And it's not even really artificial intelligence. It's basically just very fast computing.
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