Comment on Everyday AI looks more like the '08 housing bubble

• Lucelu2@lemmy.zip ⁨7⁩ ⁨hours⁩ ago

  I think the top 10% are author of more than 50% of the spending/consumership. That is about to become larger.

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• Knock_Knock_Lemmy_In@lemmy.world ⁨14⁩ ⁨hours⁩ ago

  Boo hoo. Rich people become less rich.

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  • boonhet@sopuli.xyz ⁨14⁩ ⁨hours⁩ ago

    And the poors lose their jobs but who cares lmao they should just eat cake

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    • Knock_Knock_Lemmy_In@lemmy.world ⁨12⁩ ⁨hours⁩ ago

      I call bullshit. You are white knighting the poor to protect your own ass.

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      • boonhet@sopuli.xyz ⁨8⁩ ⁨hours⁩ ago

        No, actually when people stop buying things and companies close down, I’m pretty sure the employees of said companies lose their jobs.

        It sucks but that’s capitalism for you.

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  • Redex68@lemmy.world ⁨13⁩ ⁨hours⁩ ago

    You do realise that if 50% of consumption disappears then a lot of people from that 90% will loose their jobs as well. I don’t care about the 10%, I also think the income inequality in the US is insane, but the fact is that if AI stocks tank right now, poor people will feel it as well (much more so than rich people, because they can’t survive without a job and don’t have wealth as a safety net)

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    • Knock_Knock_Lemmy_In@lemmy.world ⁨12⁩ ⁨hours⁩ ago

      You are talking yourself into trickle down economics. There is now plenty of evidence that this isn’t true.

      There is no need to protect rich people’s wealth so that the poor don’t suffer

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      • Redex68@lemmy.world ⁨11⁩ ⁨hours⁩ ago

        I don’t understand what your point is? I’m merely expanding on OP’s question and stating the fact that the way things are currently, when the AI bubble bursts poor people will feel it the most. Trickle down economics doesn’t work because if you give 100 bucks to a rich person, they’ll spend like 5 of it. If you give it to a poor person, they’ll spend all of it. But that has nothing to do with the fact that if the bubble bursts right now, poor people aren’t going to somehow get any of that money. They will loose their jobs, because the economy slowed down and nobody is buying anything and their jobs aren’t needed anymore. They will just suffer more and rich people will buy up their houses that they now have to sell at bargain prices.

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• 1984@lemmy.today ⁨14⁩ ⁨hours⁩ ago

  Trump is a much bigger threat to tanking the US economy. He is working in that direction every day. Tariffs are horrible for the economy. Sure, he gets American factories built and jobs are created but things overall are going to be much more expensive for consumers.

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  • Redex68@lemmy.world ⁨13⁩ ⁨hours⁩ ago

    I agree, but that’s just another factor, and it will also cause the stock market to crash, among other things.

    Also, the worst thing is he won’t get American factories to be built. Maybe one or two, but no one in the right mind is going to relocate large amounts of manufacturing to the US when tariffs are coming in and out of effect all the time. Tariffs only work for increasing manufacturing if companies believe they will last a long time. If companies think a tariff will last a month or a year, there’s no point in making a factory that will take two, three years to build and then five years to become net profitable, because by the time the factories finished and the tariffs are gone, everyone that still has a factory outside of the US will just out compeat that factory with lower prices.

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