If this bubble pops spectacularly and causes financial Armageddon for people's pensions, people who never wanted this to happen or had any part in it really -- who is responsible?
Will we start to have discussions aboutt aking this kind of ability to destroy the economy away from people who are absolutely insulate from such destruction?
Or will we bail them out and restart the timer to cyclical and preventable financial destruction?
general1465•2mo ago
It will be 2008 all over again. Nobody will be jailed, but the excuses are going to be juicy. I can already come with these, will see, time will tell how well I guessed:
- Too big to fail
- We can't jail those people, we need them to push our innovation forward
- They had no idea what they are doing
- Blaming China for pushing USA into the AI race
falkensmaize•2mo ago
The only way to truly fix these cycles is to finally let the bubble actually pop. Make laws against government bailouts. Let companies and investors who acted recklessly go broke. Send criminals to jail. That’s the only way to restore sanity to the system - if it’s actually their own money they are gambling with they’ll start doing due diligence and stop gambling.
Teever•2mo ago
Will we start to have discussions aboutt aking this kind of ability to destroy the economy away from people who are absolutely insulate from such destruction?
Or will we bail them out and restart the timer to cyclical and preventable financial destruction?
general1465•2mo ago
- Too big to fail
- We can't jail those people, we need them to push our innovation forward
- They had no idea what they are doing
- Blaming China for pushing USA into the AI race