The dollar is heading for its worst year since 1973, falling more than 10% year-to-date while nearly every other major asset class explodes upward. Just last night, Bitcoin hit a new all-time high of $125,000, pushing its total market value to $2.5 trillion, as Cryptopolitan reported. Gold is now close to $4,000 an ounce after […]
  • UnderpantsWeevil@lemmy.worldEnglish
    8·
    11 months ago

    I’d say the fundamental difference between Housing and AI is that we don’t live in the AI. The fallout will be very different for that reason alone.

    And as to “no bailouts”? Bush let Lehman go bankrupt and it set off a panic that resulted in the US Treasury outright owning half the investment banking sector by the end of the year. There’s always an appetite for bailouts when shit actually impacts the fan.

    • SaveTheTuaHawk@lemmy.caEnglish
      2·
      11 months ago

      US has no way to bailout trillions. you actually do live in the AI, because this bust will kill all retirement plans and pensions.