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dentemple | 2 months ago

Don't worry, once the Wall Street tap runs dry, the U.S. government will be more than happy to step in and bail out the AI corps. at the taxpayer's expense.

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dataviz1000|2 months ago

> Don't worry, once the Wall Street tap runs dry, the U.S. government will be more than happy to step in and bail out the AI corps. at the taxpayer's expense.

I have a brilliant idea. Why not start this now?

The US government will give every child born $1000 in money in order to hand it to the small number of families who own 70% of equities in order to purchase equities the child can't touch for 18 years. That is US Government -> child -> rich person who currently owns the equity, although the rich person gets the cash in hand the child has to wait 18 years to sell the equity.

Where does the US Government get this $1000 per child from? Borrow it, adding to the $38,000,000,000,000 in national debt.

Here is the interesting part of my brilliant plan. That child will inherit, calculated per capita, $111,000 in debt the moment she is born. That child will be responsible, calculated per capita, for ~$3,000 a year in interest on that debt.

In order to sell the idea, every time the US Government gives $1000 to a child to purchase stocks I own, I will give $250 to another child to purchase stocks I own. Let's do the math: $1000 profit - $250 loss + $250 profit = $1000 profit. Best part is the media will run this as the leading news story for 3 days making me look like God.

It is a brilliant idea.

Retric|2 months ago

Subtract GDP growth and it’s slightly negative, meaning simply borrowing more money and the at current rates the debt to GDP ratio decreases over time. Massive spending sprees are why it’s gotten so huge, kicking it down the road turns it into a smaller problem soon as politicians stop actively making the issue worse it goes away.

We could argue about the risk if things start to fail, but in an emergency the US could change its constitution and abandon its debt.

glitchc|2 months ago

I love it, except there's no point in providing debt to a party with no ability to pay for ~18 years.

daedrdev|2 months ago

With what money? US debt is owned by mostly US residents. US defecit is already absurdly high. Not to mention the looming social security failure

stvltvs|2 months ago

You print more money. The only limit is the inflation you create.

robocat|2 months ago

Make America Bankrupt Again!?

boh|2 months ago

That's why they're hedging. US government regulation has liquidity requirements so it doesn't occur.

roadside_picnic|2 months ago

It's national defense! Imagine if China had more slop than us!

seanmcdirmid|2 months ago

China is focusing heavily on AI applications. They have basically decided already to deal with their coming demographic bust with robuts/AI rather than immigration. Its not even about military applications, the US is just afraid that China will shoot so far ahead of us economically that they won't have any leverage over it in the future at all.

HPsquared|2 months ago

We cannot allow a slop gap!

vondur|2 months ago

I said the same thing on a different post and people downvoted it. The current administration believes that the US can't fall behind China in this AI arms race. So don't expect anything too drastic to happen to the large players in the game.

malka1986|2 months ago

China made the us fall in kinda the same trap that the us madeade ussr fall into with the moon race.

zerosizedweasle|2 months ago

Maybe, but a clear Republican bailout of AI might wipe them out for several election cycles / foreseeable future. Big tech isn’t popular, AI isn’t popular and bail outs aren’t popular

jgalt212|2 months ago

You're being downvoted, but a number of AI actors certainly taking actions to become "too big to fail".