Comment on What does everyone think of the economic outlook for the next year?
merc@sh.itjust.works 14 hours ago
The optimistic scenario for the economy is a pessimistic scenario for the world.
For the economy to do well would require the AI bubble to not pop. It would mean that these absurd valuations for the AI companies turn out to be correct. That all the circular financing somehow comes good and all these ridiculous-seeming bets about the future of AI turn out to be at least partially correct. It will require that the companies that fired workers to replace them with chatbots turned out to have made a good and profitable decision. It’s the scenario where Musk becomes a trillionaire.
RIotingPacifist@lemmy.world 11 hours ago
What’s funny is the AI bubble has exposed how bullshit the economy is in general, like GDP is really just a measure of how fast money moves, which Nvidia, Microsoft & AI companies shovelling money through a circular economy counts as growth, even if they lose money doing it.
merc@sh.itjust.works 3 minutes ago
There’s a joke about that:
One economist says to the second “I’ll give you $10,000 if you eat that pile of dog shit.” The second economist reluctantly agrees, but the smug look on the other guy’s face makes him regret it. He sees another pile of dog shit and offers the first economist $10,000 to eat it. The first one agrees, $10,000 is a lot of money.
Afterwards, both economists are sitting there, dog shit smeared on their faces. One says to the other “What a waste! We both have the same money we started with, but we both had to eat dog shit.”
The second replies: “That’s absurd, in just a few minutes we grew the economy by $20,000!”