Comment on Everyday AI looks more like the '08 housing bubble
ILoveUnions@lemmy.world 2 weeks agoNothing is worth trillions,
There is things worth trillions. Like full countries, and the largest pension funds and social security funds. Having a single company be comparable to those massive collections of people is insane, and it’s because they think it can replace workers–when it can’t, not yet, and not fo a long time
sirboozebum@lemmy.world 1 week ago
Production must equal Consumption plus investment.
An excess of production leads to companies closing down.
Reducing consumption (via getting rid of workers, reducing wages, etc.) will lead to an imbalance that must correct itself.
This can be forestalled by private debt, government debt or exporting the surplus but this is unsustainable.