After seeing _what_ level of buffoonery, incompetence, and pure idiocy the gerrymandered American electoral system is capable of producing, nope, no, AI bailout won’t matter at all.
> An AI bailout would be a poison pill that would electorally doom whichever party was behind it for decades.
One could only hope. In any case, in the short term, with AI having such a poor public-image story, if the Dems want to get back into power again they'd do everything they can to assure their voters that a bailout is not on the cards.
This is the first single-issue voter concern that has really popular support, and they'd be dumb for chasing identity politics again.
> An AI bailout would be a poison pill that would electorally doom whichever party was behind it for decades.
Two concerns:
1. In a duopoly it won't doom either one party, not if the bailout-seekers involved are able to bribe them both equally.
2. A politician in not-so-bad party could let the other party doom itself in a long-term diffuse sense... Or they could accept some generous short-term very concentrated-on-me donations. The interest of the group is not always the interest of the members.
The US desperately needs voting-reform, to reduce the spoiler-effect and winner-take-all mechanics.
I don't hold my breath for long term memory of average joe. Seems like US population was primed for short dopamine kicks for past 20 years with reality shows and similar clown stuff.
Look at who got elected, all those scandals, consistent lies, empty talk and fraud yet support is still strong.
"They" bailed out big banks whose gambling resulted in millions of people losing their homes, and the electoral effect was basically zero. Just invoke 'the other side' come election season and all is forgotten. Third parties fail to the same trick - by 'wasting' your vote on them, you're indirectly voting for 'the other side.'
It's one of the many reasons that partisanship is foolish - it essentially leaves governments unaccountable. Another is the reason I put "they" in quotes. There will be lots of partisan finger pointing when the bubble pops, but it was both the DNC and GOP that bailed out the banks, and it'll be both of them bailing out big money again.
> That gambling actually led to people getting those homes. The people losing them was the correction.
Well, yes but there is a distinction between "led to" vs "losing them". The first is indirect, the second is not.
You could expand that as "That gambling by banks offering these risky mortgages to unsuspecting people, actually led to people getting those homes. When the banks who did this did not bear the costs of their actions, and passed them on to their customers, the people losing their homes was the correction."
> the issue with too big to fail is that it can equivalently be rephrased as too big to learn.
it is certainly phrased that way, i.e. "There Is No Alternative (1) to bailing the banks out, we can't just let them fail - all their employees will be jobless tomorrow!".
It's not true though, there are plenty of ways to inflict non-lethal financial penalties on a bank to help them learn better, or take them under governance in whole or in part (2) for orderly disposal.
But it has to be politically feasible. Which is harder when the ordinary voters aren't the ones that have the most influence over outcomes.
1) AKA "TINA", "The true meaning of TINA isn’t “No alternative is possible,” but rather, “Stop trying to think of an alternative.”"