I think this bubble is a bit different and not really reliant on the general public’s view or support. They will attempt to ram this down our throats, with violence where necessary, because the more buy-in the better, but the clock is already ticking because they made promises of profit they cannot keep and when the debt comes due they will not be able to pay
Bond market already knows.
But this time it’s an ugly double whammy as it’s both the AI companies and the US government that won’t be able to pay their debt, and they are interlinked.
If it comes to it, the US is constitutionally barred from just defaulting on its debts. And the US government can just print more money. Which will massively devalue the USD, tanking the economy and killing their ability to borrow more in the future, but it’ll still technically allow them to pay off the current debt.
They know their promises cannot be kept. They are building a surveillance state for the government. When the bubble bursts, the government will swoop in and bail them out because they are too big to fail and hand over most of these AI resources to the US government.
I think this bubble is a bit different and not really reliant on the general public’s view or support. They will attempt to ram this down our throats, with violence where necessary, because the more buy-in the better, but the clock is already ticking because they made promises of profit they cannot keep and when the debt comes due they will not be able to pay
Bond market already knows. But this time it’s an ugly double whammy as it’s both the AI companies and the US government that won’t be able to pay their debt, and they are interlinked.
If it comes to it, the US is constitutionally barred from just defaulting on its debts. And the US government can just print more money. Which will massively devalue the USD, tanking the economy and killing their ability to borrow more in the future, but it’ll still technically allow them to pay off the current debt.
Technically, yes - but not in a way that foreign investors would want to lend any more money in the future.
They know their promises cannot be kept. They are building a surveillance state for the government. When the bubble bursts, the government will swoop in and bail them out because they are too big to fail and hand over most of these AI resources to the US government.