Millennials out here preparing for their 5th once in a lifetime market crash.
Sixth for GenXers. So tired of this shit.
I’m an Oregon Trailer, are you counting the savings and loan crash, or am I missing one in the 90s?
- savings & loan
- dot com
- 9/11
- housing bubble
- Covid
- AI
I’m just waiting for cheap 60xx series gpus.
Most of these “GPUs” have no video output :)
Let’s see 2000, 2008, 2020, what am I missing?
History rhymes so 202…
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Holy shit. That’s almost one Elon Musk’s Salary dollars
That’s more or less how I deal with any economic numbers these days. Just one mans salary. No big deal.
If only the AI could have given them a heads up.
Just as accurate as tarot cards…
Hey man, I do tarot, read it, then ask my AI what it thinks. It feels real.
/s
…no but for real, I like do draw tarot, and the AI has helped me get better at reading. It’s for funsies; I don’t take it seriously.
Yeah bro, I burnt a forest down yesterday, but it’s cool, I did it for the funsies
That’s awesome bro, I love gender reveal parties 😎
What deck is this from?
It’s from Grant Morrison’s Nameless https://retcon-punch.com/2015/06/12/nameless-4/
It always amazes me just how stupid all these billionaires actually are. It just highlights the fact that they did not actually “earn” that wealth, in the first place. If it were truly a matter of talent and skill, they wouldn’t be crashing the economy every five to ten years…but here we are, for the fifth(?) time in the last few decades?
You may think it’s stupid but these people are still going to make ass loads of money out of this entire ordeal. Because the entire system is rigged in their favor.
Its like the movie Big Short where despite news of bankruptcies stocks kept going up for a long time. It was when the banks shored up their own shorts that they actually let the market crash.
You get a bail out! You get a bail out!
The crashes are deliberate. It allows them to scoop up infrastructure for pennies on the dollar. It’s not a coincidence that the largest ever upward transfer of wealth occurred during COVID. That was the elite consolidating their holdings. And evidently, they’re not exactly satisfied yet and want even more.
Crashing the economy is only stupid if you don’t have enough liquidity to capitalize on it. That or if you actually give a shit about people.
Are they really stupid if they make billions?
Yes. Exploitation apparently doesn’t require intelligence. Just a total lack of empathy.
In a way it requires you to be an apex predator of your own species. They are necessarily stupid but greedy and psychosocially fucked. Maybe smart in certain ways but blindingly stupid in others. And also cannibals, which occurs to me now, since they basically hunt and consume the essence of poorer humans. Can we make that cannon?
They aren’t stupid, they are gambling and they toss their weight to stack the bet in their favor long enough so that they can cash out and not be left with the bag when it crashes.
Every recession, richs get richer and we get poorer.
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We really need to find a way to make the billionaires fight each other again.
POP THAT BUBBLE
POP THAT BUBBLE
POP THAT BUBBLEThe most obvious global collapse of a stock
Honestly, I gotta hand it to Apple. They never jumped on the hype train for AI as bad as all these other companies because they were smart enough to realize it was temporary and they are just chillin’ right now. Sure they did a few things here and there, but they didn’t try and change their entire business model around AI. When this bubble does pop, I’m sure Apple will be the one on top again.
Apple has invested heavily in infrastructure that will make every iPhone and app on the store transparent to an AI running on bespoke silicone designed for the task. Much like Windows, Apple foresees a future where AI is a substitute for the GUI.
https://www.archyde.com/apples-ai-integration-a-deep-dive-into-iphones-future/
Yeah, just like voice assistants were supposed to.
What happened was they did the standard thing of being really far behind in terms of software and were not able to compete. Apple is not a software company it’s a hardware company with delusions of grandeur. If a software feature is good enough they’ll eventually steal it and claim that it’s some major innovation on their part but they will never get away from the fact that they brought the atrocity that is iTunes into the world.
When I lose hundreds of billions of dollars, I have to go to bed without supper.
From the article:
Nvidia declined 7%, Oracle, and AMD dropped 8.8%, Meta and Microsoft dropped around 4%.
These are amounts that stocks often fluctuate. Percentages are what matter. Phrasing it as a big dollar value was lost is always manipulative framing.
The market is big. There are more than a few shares. A small change becomes a big number when multiplied by the size of the entire market. $800 billion is basically meaningless.
The numbers are fake anyway. Market cap is the value if all existing shares were sold at the current price. Nonsense. Selling all the shares would change the price in some way.
Never have I seen greater evidence that the ultra-wealthy are fundamentally catastrophic for the economy.
Aside from the last like 100 billion pieces of evidence that came before this well predicted one.
Whew finally
Good
