It is one position that seems to cross ideological lines. It’s like literally everyone other than people who are very invested in the stock market (and even then) really want to see this thing crash and crash hard.
As someone who lived through and lost a job during the GFC, I think a bit of this is not realizing how bad an economic crash is even if you don’t think it will affect you much. It will. Some people think the residential real estate market will crash too and they can finally buy a house. But that’s hard to do when either you’ve lost your job or your job feels so precarious that you really don’t feel safe emptying your savings and taking out a mortgage. Or if you have a “safe” job, you think you can weather the storm. But in a depression, there are very few “safe” jobs.
But with that caveat aside, I think things are different now because so many people are struggling and barely getting by with their current employment situation. Life already feels so precarious, might as well throw a spanner into the works and see what happens. And that part feels very different than in the run up to the GFC. It affects everyone, regardless of political ideology.
Of course now I’m convinced that because it’s something everyone is expecting and wants to see happen, it will never actually happen. US will just limp along with high inflation, no job growth, and everyone getting slowly squeezed for years.
it’ll happen, i think. but not soon. not in the timeframe everyone expects it. I also think a lot of folks dont understand what could potentially happen, either.
The USA as a world power (political, economical, militarily) is waning, but it hasnt waned fully. It still has a pretty big spoon and can still stir some shit up. It is on its downhill slope, but it hasnt hit rock bottom yet. Crabs in a bucket or some shit.
People think the US will go out without a whimper, and that it will be smooth sailing for China to supplant them as the global hegemon.
An economic collapse won’t be good for anyone, not people inside the core, and certainly not for those outside of it. The West will act as a cornered animal
They have nukes ffs. I do not trust the American ruling class not to go MAD on the rest of the world.
Idk, the AI bubble seems to have at most a few years and those companies make up like 30% of the US economy^[Latest Fad]. Besides that, wasn't 2008 good for the bourgeois in the end? They bought up all the houses people defaulted on for cheap.
No no they will totally build a data center that's 10x current worldwide computation power. Trust them, elon is a genious after all /s
The AI bubble popping probably wont be GFC levels of crash by itself, it'll be more like the dot com crash. An AI crash combined with trump continuing his tarriffs and firing the fed causing runaway inflation could be GFC levels.
It will be what drags down everybody's collateral and leads to majorly selloffs. Bitcoin crash last week was exactly that. Liquidity needed to cover for struggling collateral assets