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I am really curious if this is the start of the end of the AI boom. And I am curious if the end of AI boom will create a worse recession then 2008, because it seems to me like the only people directly affected will be techbro dickholes and a few billionaires who will hopefully do the same thing brokers did on Black Friday.
A lot of 401k havers will be impacted as well but so many people are so much worse off now than 2008 and have no retirements to lose that it will look different.
Every fund my retirement account website recommended had nvidia, apple and Microsoft in the top five holdings. I had to specifically know I didn’t want that and move the money out to get away from it… and the other funds are tied up in other stupid bullshit that seems like bubbles too. Imo Retirement accounts are a trap to make working class folks think like capitalists.
And with Nancy Pelosi retiring, you can't even put your retirement fund in one of the ETFs that tracks her insider trading anymore
Well yeah
Vanguard won't even let you invest in gold on your employer's 401k plan.
Considering the Burry Billion shorts I suspect this is the beginning of the bubble burst. Will there be a recession? Maybe, but considering that Trump refuses to release the latest economic data and was trying to manipulate it before that it's likely we were already in a recession to begin with, this would just pull the mask off. The US probably can't afford a recession, but the world can't afford for things to continue like they are either.
Approximately one third of current US stock exchange value is caught up in AI companies, AI investments or AI value predictions. If that goes, especially when it goes quickly, a lot of money will disappear from many wallets.