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It's not AI. We are in a recession caused by fear and instability. Tech may just be dying in general. This could finally be the collapse we have been waiting

It's not AI. We are in a recession caused by fear and instability. Tech may just be dying in general. This could finally be the collapse we have been waiting for. While the US was allowing capitalists to hoard all of the USs excess capital, China was facilitating the development of important industries via central planning. Look at Intel. The owning class has become so greedy and incompetent. They aren't even running functional companies anymore: just grifting for government money then using that for stock buybacks.

skirge 1y ago
stupid government is the root cause - and government is chosen by voters and does what voters want it to do. China is monarchy and monarchs listen to no one.
- mgol94 1y ago
  For US democracy replace "voters" with "lobbyists"
  - 9rx 1y ago
    Voters and lobbyists are the same thing. Regularly telling your elected hire what to do is the onus on all participants in a representative system. The employee you hired isn't a mind reader. The only reason we imagine that there is a distinction is because most voters are too lazy to talk to the person they hired, so those who do stand out.
    - honkycat 1y ago
      > Voters and lobbyists are the same thing one is a large corporation with money paying for access and favors, the other is a regular person who votes. Absolutely absurd.
      - 9rx 1y ago
        You may be thinking of a specific lobbyist, but that specificity is now only being introduced in your comment. It does not apply to comments that came earlier. It remains that the system of government in the US expects regular lobbying from all voters. Without other qualifiers, lobbyists and voters are the same thing.
- eru 1y ago
  Even a dictator needs the (implicit) consent of at least some of the people to stay in power. You can't do everything by yourself. However I agree that democracies around the globe mostly work, in the sense that voters get what they are voting for.
jibe 1y ago
If you are going to call it a collapse of the US, first understand that it is a UK jobs report, and second, the top line number is job growth. Also, why are you waiting for collapse? year-on-year growth remained positive at +0.49%, marking the third consecutive month of annual improvement and suggesting a slow but steady recovery from the recent market slump.
- honkycat 1y ago
  You're right, things are great in the US market. Totally different. These are all multi-national corps.
chrisco255 1y ago
Look at Nvidia (also US company) instead of Intel, it's what now, a $3T market cap? BTW, that capital was created, not hoarded. Many companies fade from glory or their peak at various times, but capitalism ensures that a dynamic and ever-shifting set of companies is thriving based on demand and efficiency. The train keeps going.
- timacles 1y ago
  > capitalism ensures that a dynamic and ever-shifting set of companies is thriving based on demand and efficiency That form of capitalism is dead. There is no free market anymore (if there ever was). We currently have crony capitalism that operates on being able to secure cheap capital through "other" means. There is no more efficiency in the current markets. Everything is massively over valued. Financial engineering is the name of the game. Major banks gamble with our money and when they collapse they get bailed out. That is not market efficiency. > The train keeps going. The only train that keeps going form here on out, is larger companies swallowing smaller companies. And the top siphoning wealth from the bottom. Real capitalism would have had several market correction in the last 15 years, but the USA just keeps on printing money.
- blibble 1y ago
  "market cap" is not captial that has been created
timacles 1y ago
We are looking at the a reshuffling of the USA economic order. Small businesses are essentially being (slowly) completely erased from the US economy, and monopolies are all that will be left. The middle class is being wiped out. Wealth is being transferred to the top > Tech may just be dying in general. Its not just tech, its any company that doesnt have infinite capital to integrate and monopolize every bit of the supply chain.

skirge 1y ago

stupid government is the root cause - and government is chosen by voters and does what voters want it to do. China is monarchy and monarchs listen to no one.

mgol94 1y ago
For US democracy replace "voters" with "lobbyists"
- 9rx 1y ago
  Voters and lobbyists are the same thing. Regularly telling your elected hire what to do is the onus on all participants in a representative system. The employee you hired isn't a mind reader. The only reason we imagine that there is a distinction is because most voters are too lazy to talk to the person they hired, so those who do stand out.
  - honkycat 1y ago
    > Voters and lobbyists are the same thing one is a large corporation with money paying for access and favors, the other is a regular person who votes. Absolutely absurd.
    - 9rx 1y ago
      You may be thinking of a specific lobbyist, but that specificity is now only being introduced in your comment. It does not apply to comments that came earlier. It remains that the system of government in the US expects regular lobbying from all voters. Without other qualifiers, lobbyists and voters are the same thing.
eru 1y ago
Even a dictator needs the (implicit) consent of at least some of the people to stay in power. You can't do everything by yourself. However I agree that democracies around the globe mostly work, in the sense that voters get what they are voting for.

jibe 1y ago

If you are going to call it a collapse of the US, first understand that it is a UK jobs report, and second, the top line number is job growth. Also, why are you waiting for collapse? year-on-year growth remained positive at +0.49%, marking the third consecutive month of annual improvement and suggesting a slow but steady recovery from the recent market slump.

honkycat 1y ago
You're right, things are great in the US market. Totally different. These are all multi-national corps.

chrisco255 1y ago

Look at Nvidia (also US company) instead of Intel, it's what now, a $3T market cap? BTW, that capital was created, not hoarded. Many companies fade from glory or their peak at various times, but capitalism ensures that a dynamic and ever-shifting set of companies is thriving based on demand and efficiency. The train keeps going.

timacles 1y ago
> capitalism ensures that a dynamic and ever-shifting set of companies is thriving based on demand and efficiency That form of capitalism is dead. There is no free market anymore (if there ever was). We currently have crony capitalism that operates on being able to secure cheap capital through "other" means. There is no more efficiency in the current markets. Everything is massively over valued. Financial engineering is the name of the game. Major banks gamble with our money and when they collapse they get bailed out. That is not market efficiency. > The train keeps going. The only train that keeps going form here on out, is larger companies swallowing smaller companies. And the top siphoning wealth from the bottom. Real capitalism would have had several market correction in the last 15 years, but the USA just keeps on printing money.
blibble 1y ago
"market cap" is not captial that has been created

timacles 1y ago

We are looking at the a reshuffling of the USA economic order. Small businesses are essentially being (slowly) completely erased from the US economy, and monopolies are all that will be left. The middle class is being wiped out. Wealth is being transferred to the top > Tech may just be dying in general. Its not just tech, its any company that doesnt have infinite capital to integrate and monopolize every bit of the supply chain.