The entire US economy is currently being propped up by growth in the AI/tech sector. And I am convinced that LLMs are fundamentally incapable of delivering on the promises being made by the AI CEOs. That means there is a massive bubble that will eventually burst, probably taking the whole US economy with it.
Let’s say, for sake of argument, that I am a typical American. I work a job for a wage, but I’m mostly living paycheck to paycheck. I have maybe a little savings, and a retirement account with a little bit in it, but certainly not enough that I can retire anytime in the near future.
To what extent is it possible for someone like me, who doesn’t buy into the AI hype, to insulate themselves from the negative impact of the eventual collapse?
So. I have been through the tech bubble and housing bubble and this got me to investigate the great depression and what I found is. No. I mean if your rich enough. Maybe. But things like real estate have reoccurring costs and things like gold you lose value in the buying in selling and its not liquid enough for you to deal with the economic situation you will have outside of investments. A normal person will have to use savings which include investments to get through it. Owning a home without a mortgage can be helpful unless you need to move for work. its complicated.