Bubble needs to be destroyed before it destroys the country | Hacker News Reader

Bubble needs to be destroyed before it destroys the country

9 pointsmoosedman12 comments

If it doesn't pop it is going to consume the country, the economic effects will create political ramifications that will make the United States unrecognizable (more so) Since the Fed started hiking interest rates a substantial part of the country has been in a serious financial downturn. Now with the shut down it is becoming a crisis of food as well. It's been invisible because the massive bubble which has accrued vast amounts of money to a small fraction of the population. This has to stop. The bubble has prevented there from being any sort of help to the people in the economy who are suffering.

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Food crisis because most of the money goes to rent and utilities.

Lower interest rates would alleviate a lot of the crisis. The bubble has meant that interest rates have been artificially high.

hmm not sure i buy this but happy to be corrected. I'd argue that low interest rate for a substantial period post GFC has led to misallocation of capital to more finite assets such as housing which in turn has led to increase house prices and secondary effects of increased rent. Lowering interest rates further will only exarcebate that. And we can of course increase housing supply, build more houses etc. but that takes time and the short to medium term will continue to be awful

So, pop it! Go into a bank -- any bank that is big enough to be busy but not big enough to have too many bouncers -- go up to a teller window and start pounding the counter and shouting "I want my money! Where is my money? What have you done with my money?" You might get arrested, but you'll pop the bubble, all right.

I know you think it's a joke, but look who is rising, Mamdani and Fuentes, outer bounds of the political possible just keep expanding. And they're just a gentle preview of what is to come. Either way at the end you'll either end up with literal Nazis or literal Bolsheviks.

> but look who is rising, Mamdani and Fuentes

5 years ago:

> but look who is rising, Kamela and Kirk

10 years ago:

> but look who is rising, Clinton and Trump

25 years ago:

> but look who is rising, Bush and Bernie

You can make this argument for literally any point in American history. All you need is two household-name ideologues, it doesn't prove anything.

It's quite then progression isn't it?

But Fuentes can be described like this:

"The Nazi in question here, podcaster Nick Fuentes, has described Adolf Hitler as “really fucking cool” and said “perfidious Jews” must “be given the death penalty” after “we take power.”"

Just look at the Mamdani state run grocery stores and you'll see that in there own way, each of these are huge steps outside the mainstream.

I'm familiar with them both. We can play the pull quotes game all week, it's fruitless. American politics have been like this for centuries and it's nothing new.

What you are falling victim to is transgressive politics. Both sides have policy that chafes with you, and instead of admitting that you're being ragebaited, you're insisting that it's my fault for not recognizing it as some unforseen political maelstrom of racist communism. The big ugly thing you're pointing at is simply called politics.

You don't seem to be very clear on US politics if you think there is nothing extraordinary about their rise on the political stage, a rise driven in large part by desperation from Gen Z.

there isn’t… you are probably young and think this is something extraordinary … us in 50’s - we’ve seen this shit before too many times :)

The general process of devolution is independent of a topical phenomenon such as the AI bubble. It isn't even an instance of mass hysteria, but of hysteria among a very small and deliberately self-isolated elite

> The bubble has prevented there from being any sort of help to the people in the economy who are suffering.

Now we have heard it all about this amazing bubble we are living with - did not expect to read that it prevented some help to the people who are suffering. wall st loves nothing more than to help people who are suffering…

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