This one will be a lot worse than the sub-prime mortgage crisis, as AI investment has left many major banks, index funds, and most of the top 10 most valuable companies in the world heavily exposed, and the world governments are already at historic levels of debt - meaning a bail-out even if desired by those in power, may not be possible as it was in 2008.
Let’s see how many governments will end up with a D rating. The USA are probably a given but this might set a lot of major companies on fire so who knows who else will run out of money.
Of course China is laughing all the way to the bank. Their economy isn’t super healthy right now but they aren’t reliant on semiconductor companies that chained themselves to the AI racket. So they might weather the crash mostly unharmed and we’ll all end up buying Loongson in the future because all of the x64 and ARM companies have folded.
Get ready for GFC #2.
This one will be a lot worse than the sub-prime mortgage crisis, as AI investment has left many major banks, index funds, and most of the top 10 most valuable companies in the world heavily exposed, and the world governments are already at historic levels of debt - meaning a bail-out even if desired by those in power, may not be possible as it was in 2008.
Let’s see how many governments will end up with a D rating. The USA are probably a given but this might set a lot of major companies on fire so who knows who else will run out of money.
Of course China is laughing all the way to the bank. Their economy isn’t super healthy right now but they aren’t reliant on semiconductor companies that chained themselves to the AI racket. So they might weather the crash mostly unharmed and we’ll all end up buying Loongson in the future because all of the x64 and ARM companies have folded.