However, there might be a bright side: one macroeconomic researcher, Dean Baker of the Center for Economic and Policy Research, says a bursting bubble might be just what we need to get things back on track.
In a summary of the situation, Baker agrees with the school of thought that says we’re in an AI spending bubble, and that there are some nasty consequences — a recession, most likely — awaiting us when the music stops.
However bad that economic downturn might be, though, Baker says it will open the door for a potential recovery that makes life better for working people.
He is far too optimistic about liberal capitalism working out for the little guy.
I think you mean how bad it will be, cause this crash is happening.
Which is kind of my point. Even with Obama and Democratic majorities in both houses it was a bailout for the rich. Imagine how much worse it’ll be with the schmucks in power now.
He is far too optimistic about liberal capitalism working out for the little guy.
Yup. After the 2008 crash they bailed out the banks while ordinary folks lost their homes and jobs. And that was with Obama in office.
I don’t want to let Obama off but Imagine how bad it would have been with Trump and MAGA in office.
I think you mean how bad it will be, cause this crash is happening.
Which is kind of my point. Even with Obama and Democratic majorities in both houses it was a bailout for the rich. Imagine how much worse it’ll be with the schmucks in power now.