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Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’ (fortune.com)

submitted 1 day ago by cm0002@lemmy.zip to c/usa@midwest.social

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The entire US economy right now is 7 companies sending a trillion fake dollars back and forth to each other, but it's totally not a bubble according to grampa Powell.

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[–] Tollana1234567@lemmy.today 1 points 12 hours ago (2 children)

from what ive read, it could be retail that would be left holding the bag, and when that happens people in those industries will start losing jobs.

[–] KelvarCherry@lemmy.blahaj.zone 1 points 8 hours ago

Just get Trump to shill it to his base; Like $TRUMP and $MELANIA and $TUAH and the golden "It's Trump Time" watches and the Trump phone. Real patriots buy Open AI.

[–] Voroxpete@sh.itjust.works 1 points 8 hours ago

Not sure what you mean by "people in those industries". In investment parlance, "retail" isn't an industry, its individual investors. Y'know, people on the Robin Hood app YOLOing their life savings into Nvidia. So which industries are you referring to?