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Vlad_The_Impaler on scored.co
1 month ago12 points(+0/-0/+12Score on mirror)3 children
I think that the economy is far worse than ZOGnald Trump and fake news is telling us.
The top 10% richest people are spending over 50% of all money being spent in the economy now. I think that might be discretionary only but can't remember.
Nearly half of U.S. retail spending comes from top 10% of earners https://www.marketplace.org/story/2025/09/17/top-10-of-earners-make-up-half-of-us-retail-spending
>Those retail numbers are growing more dependent on a smaller group of consumers. The top 10% of earners in the U.S. accounted for nearly 50% of spending in the second quarter, the highest level it’s been since this data first started being collected in 1989, according to Moody’s Analytics.
>Soaring home values and financial markets have helped the rich transform into the wealthy. And the economy does benefit from this in some ways. In fact, it’s probably benefitting right now.
>“That has helped keep sales in the economy stronger than it would have been,” said Jim Wilcox, an economist at the University of California, Berkeley. He said without the high earners, there’d be more people feeling inflation and less spending. And the unemployment rate would be higher. It’s currently 4.3%.
1 month ago1 point(+0/-0/+1Score on mirror)1 child
Maybe i'm exaggerating. I was going off this headline.
Without data centers, GDP growth was 0.1% in the first half of 2025, Harvard economist says https://fortune.com/2025/10/07/data-centers-gdp-growth-zero-first-half-2025-jason-furman-harvard-economist/
I think AI and crypto is really just a masquerade for the build-up of the surveillance state and CBDC. It's all under the guise of "crypto" and "AI" since that polls better in marketing.
The shelf life of inference data centres is about 5 years. The only lasting part of the infrastructure is the development of electricity and HVAC for them.
So I disagree with the premise. The OpenAI side of the market is the one under the most financial strain, especially in the obligations they have entered into over the coming years.
The Amazon based platforms for Anthropic along with Google and Facebook have a firmer footing IMHO.
I've put my money where my mouth is - I'm Amazon and some electricity suppliers.
I've cut basically all of my discretionary spending because shit is tight.
We're in de-leveraging period right now. Everyone is saddled with debt, basically maxed out. Nobody has money to do anything. No vacations, no flippant spending, no going out, nothing. Everything is rent, food, and bills.
The top 10% richest people are spending over 50% of all money being spent in the economy now. I think that might be discretionary only but can't remember.
Nearly half of U.S. retail spending comes from top 10% of earners https://www.marketplace.org/story/2025/09/17/top-10-of-earners-make-up-half-of-us-retail-spending
>Those retail numbers are growing more dependent on a smaller group of consumers. The top 10% of earners in the U.S. accounted for nearly 50% of spending in the second quarter, the highest level it’s been since this data first started being collected in 1989, according to Moody’s Analytics.
>Soaring home values and financial markets have helped the rich transform into the wealthy. And the economy does benefit from this in some ways. In fact, it’s probably benefitting right now.
>“That has helped keep sales in the economy stronger than it would have been,” said Jim Wilcox, an economist at the University of California, Berkeley. He said without the high earners, there’d be more people feeling inflation and less spending. And the unemployment rate would be higher. It’s currently 4.3%.
If you want more details "S&P 493" is a referenced thing you can search for.
If AI goes down, it takes the fiat economy with it.
Without data centers, GDP growth was 0.1% in the first half of 2025, Harvard economist says https://fortune.com/2025/10/07/data-centers-gdp-growth-zero-first-half-2025-jason-furman-harvard-economist/
I think AI and crypto is really just a masquerade for the build-up of the surveillance state and CBDC. It's all under the guise of "crypto" and "AI" since that polls better in marketing.
So I disagree with the premise. The OpenAI side of the market is the one under the most financial strain, especially in the obligations they have entered into over the coming years.
The Amazon based platforms for Anthropic along with Google and Facebook have a firmer footing IMHO.
I've put my money where my mouth is - I'm Amazon and some electricity suppliers.
We're in de-leveraging period right now. Everyone is saddled with debt, basically maxed out. Nobody has money to do anything. No vacations, no flippant spending, no going out, nothing. Everything is rent, food, and bills.