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Financialized AI (debt: ~$2T), private equity (zombie debt: ~$4T), government spending ($7.2T, debt: $39.9T), and the very rich (and up) are the economy right n
by burnt-resistor 2mo ago
Financialized AI (debt: ~$2T), private equity (zombie debt: ~$4T), government spending ($7.2T, debt: $39.9T), and the very rich (and up) are the economy right now. Everyone else is/has pulled back and is hurting because of rising prices and job uncertainty.
- ericmay 2mo agoDon’t worry, it’s all over the world. [1] [2] [1] https://www.wsj.com/world/india/500-000-applicants-583-jobs-the-frantic-scramble-for-work-in-india-0fefa2b3?st=eLGoHE https://www.wsj.com/world/india/500-000-applicants-583-jobs-... [2] https://www.nytimes.com/2021/07/03/world/asia/china-slackers-tangping.html?unlocked_article_code=1.1VA.SET3.asaeNv_-0WyR&smid=url-share https://www.nytimes.com/2021/07/03/world/asia/china-slackers...