Originally published at: VIDEO BLOG: HOW TO HAVE AN A.I. FINANCIAL APOCALYPSE
Podcast: Play in new window | Download (Duration: 16:59 — 27.2MB) Today’s video blog references the following article: AI could cause global economic downturn, Bank of England governor tells G20
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Random comments on this Vlog
AI removes from the financial system what William F. Ogburn called “Cultural Lag”.
… on this very subject see The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It. by Scott Patterson
… speaking of the art of British understatement … if you want a great piece of comedy on the British tone applied to bad news delivery see Christopher Titus’s The 5th Annual End of the World Tour where the BBC announcer calmly reports the coming apocalypse.
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“Most Advanced AI’s” - admitted to.
Throw in the Chinese, Russians, Zionists, and Nazi International…
Along with these automated AI’s - with individual agency…
AND, one has the recipe for financial CHAOS!
Then it becomes trying to separate the purposed black-op chaos…
From the unCONTROLLED chaos…
AND, the CONTROLLED chaos.
Maybe even; an off-world player, throws in their two cents?
The RIGGED MARKETS just realized - things may NOT Play-Out…
Odds wise?
This would be divine humor.
By 2027, the US could reach US$1.4 trillion on spending on AI. Chips, data centers, power and networking.
To fund it, they’ve already borrowed more than US$400 billion this year.
Look at previous investment manias: of the 1840s, America’s canal boom, the Roaring Twenties and the dotcom bubble.
History repeats itself.
But this would be the first time in history that the area where the boom occurred, AI technology, will be the same technology that triggers the crash.
Hadn’t thought of that angle. Quite poetic actually.
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… in light of today’s Vlog a story worth revisiting, we are now witnessing the story of 2008 and instead of Mortgage Backed Securities, Derivatives, and bad (intentional) legislation the same system is being constructed using the AI Boom instead. And as last time many will suffer and a few will benefit incredibly. Interesting that all of the principles involved FAILED UP. One of them, probably more than just this one, was an Epstein Man - Larry Sommers. Out of the 2008 crisis he failed up, became President of Harvard and was able to continue his perversions
There was one hero in all of the 2008 bubble collapse. Her name is Brooksley Born. She was in charge of the Commodity Futures Trading Commission, she saw what was coming, tried to prevent it and was silenced.
… see also The Big Short by Michael Lewis
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