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by rhubarbtree
20 days ago
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Western debt is one of those problems you look at and say “this looks extremely alarming, why is no one panicking?” And then you assume that the elite know better and it must be manageable. And then one day the consequences finally hit and you’re left reading the news “oh, so it turned out I was right and it was just common sense. Huh.” US economy is screwed. UK economy is screwed. Neoliberalism killed it. The reason everyone in politics is so elated by AI is the hope that a huge boost in productivity shrinks the debt as a portion of GDP. Talk about a wing and a prayer. |
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