I’d argue we’re already in a depression. The “economy” is being held together by debt, buy now pay later, and fear of homelessness.
We likely won’t get some major event that causes some mass spontaneous strike like that.
The depression will happen slowly and controlled. Material conditions will decline. More people will die from lack of healthcare. More people will live out of their cars or with family.
A lot of your coworkers are likely already having this experience. Even if you aren’t aware of it.
The stocks will continue to go up. Since stock prices at this point are just a reflection of the capitalist ability to exploit labor. The exploitation of labor in the “first world” is being increased slowly to that of the third world. The “economy” is largely separated from the conditions of the working class in America.
The economy is being held together by duct tape and bubble gum, and 1 bad tech day will bring it all crumbling down. Doesn’t help that oracle laid off over 50,000 employees in the last couple months, several tech companies have hedges their entire future on AI bubble that’s already showing signs is ready to pop…
This bubble is quite different in my opinion than something like 2008. I believe it represents the concentration of wealth under fascism. It may “pop” but the resulting fallout will most likely be the conversion of America to a war economy. Which will sustain the hunger of capital further. And we might even get that conversion before the bubble pops.
These AI data centers aren’t being built so they can create chat bots that sell you shit. They’re being created for mass surveillance computational power and AI warfare.
I may be wrong. But one thing I do know is true is that when the bubble “pops” it’s not going to get better for the working class. It’s not going to result in some uprising against fascism. It’s going to be a massive fuel for xenophobia and white supremacy like we’ve never seen before.
So, all I can do in the mean time is try to reach more people and message through work in DSA. In hopes that we have enough resistance to it to be meaningful.
The bubble popping isn’t gonna mean you can finally afford a house. It’ll mean that your grocery store runs dry and people die not being able to get healthcare.
No war in modern history has shut off a supply of energy to this degree. China is literally currently holding up the world economy and is the only reason the world is not spiralling into chaos right now. They cut their purchases of oil by 40% to assist other east Asian countries almost entirely dependent on oil from west Asia. That cannot last forever. Even with China moving full speed ahead into renewables.
Oil is a global commodity. The US and it’s people will be just as heavily impacted as any other nation unless our government literally bans oil exports. Which this admin will not do.
The world and Americans especially are very much in denial of how bad this is going to get.
We haven’t all stopped going to work and paying rent yet. It’s not unpopular enough to matter yet.
If he throws the economy into a mass depression, everyone will stop paying rent real fast.
I’d argue we’re already in a depression. The “economy” is being held together by debt, buy now pay later, and fear of homelessness.
We likely won’t get some major event that causes some mass spontaneous strike like that.
The depression will happen slowly and controlled. Material conditions will decline. More people will die from lack of healthcare. More people will live out of their cars or with family.
A lot of your coworkers are likely already having this experience. Even if you aren’t aware of it.
The stocks will continue to go up. Since stock prices at this point are just a reflection of the capitalist ability to exploit labor. The exploitation of labor in the “first world” is being increased slowly to that of the third world. The “economy” is largely separated from the conditions of the working class in America.
The economy is being held together by duct tape and bubble gum, and 1 bad tech day will bring it all crumbling down. Doesn’t help that oracle laid off over 50,000 employees in the last couple months, several tech companies have hedges their entire future on AI bubble that’s already showing signs is ready to pop…
This bubble is quite different in my opinion than something like 2008. I believe it represents the concentration of wealth under fascism. It may “pop” but the resulting fallout will most likely be the conversion of America to a war economy. Which will sustain the hunger of capital further. And we might even get that conversion before the bubble pops.
These AI data centers aren’t being built so they can create chat bots that sell you shit. They’re being created for mass surveillance computational power and AI warfare.
I may be wrong. But one thing I do know is true is that when the bubble “pops” it’s not going to get better for the working class. It’s not going to result in some uprising against fascism. It’s going to be a massive fuel for xenophobia and white supremacy like we’ve never seen before.
So, all I can do in the mean time is try to reach more people and message through work in DSA. In hopes that we have enough resistance to it to be meaningful.
The bubble popping isn’t gonna mean you can finally afford a house. It’ll mean that your grocery store runs dry and people die not being able to get healthcare.
It’s hard to imagine it ever becoming unpopular enough for that to happen.
With enough people, it takes about 2-3 days of an empty stomach.
What about war in Iran is going to cause those conditions for enough people?
We’ve been in much longer and much more involved military commitments and not once has your situation occurred.
No war in modern history has shut off a supply of energy to this degree. China is literally currently holding up the world economy and is the only reason the world is not spiralling into chaos right now. They cut their purchases of oil by 40% to assist other east Asian countries almost entirely dependent on oil from west Asia. That cannot last forever. Even with China moving full speed ahead into renewables.
Oil is a global commodity. The US and it’s people will be just as heavily impacted as any other nation unless our government literally bans oil exports. Which this admin will not do.
The world and Americans especially are very much in denial of how bad this is going to get.
And coal liquefaction