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Of course it can fail, just like the AI circular investment moves can fail just like the Soviet Union failed. Too much decisive power in too few hands, disconne
by dv_dt 1mo ago
Of course it can fail, just like the AI circular investment moves can fail just like the Soviet Union failed. Too much decisive power in too few hands, disconnected from reality, disconnected from competition, disconnected from outside community criticism. It fails open loop. A lot of money can temporarily buffer the failure, but already we see world wide inflation and interest rate increases from the open loop decisions of the most powerful class.
- sznio 1mo agoor it can not fail, like North Korea
- palmotea 1mo ago> or it can not fail, like North Korea It's worth noting North Korea probably is not a failure for Kim Jong Un an his ilk, it's just a failure for most other North Koreans. That's probably a happy end-state for these "Cancer Capitalists."
- dv_dt 29d agoI don't have a sufficient understanding of how North Korea operates to assess that - too much my information about North Korea is propogandistic sound bites. I do know they have had famines in decades past, and don't think they have them now, so that suggests their economic/industrial strategies are a least passing a minimum threshold of being connected to reality.
- s_dev 1mo agoLook at Silicon Valley Bank that was also "too big to fail" and when it did the taxpayer had to bail it out. If something is too big to fail, it's too big, the regulator should have stepped in earlier to chop it up.
- charlesabarnes 1mo agoNit:Taxpayers didn't have to pay money for the bailout. FDIC is an insurance program with premiums paid by banks