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Comment by mono442 | Hacker News Reader

For me, it seems like a logical consequence of overheating the economy by cutting interest rates to zero during the COVID period.

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I recall similar predictions from stimulus from the mortgage crisis. Things did not seem to play out predictably, I'm not sure all the old rules are as hard and fast anymore as people think.

You are off by several years on the interest rates, which have an 18-24 month impact. Also we have this idiotic and unlawful tariff war the US administration is currently perpetrating. But I'm certain AI is having a huge impact as well.

I'm unconvinced of the AI impact outside of the tech sector. But there's certainly a lot of uncertainty generally. Probably more senior people with reputations are in a better position but likely tougher for people with no records.

Graphic design and copywriting are possibly affected even worse than the tech sector, for one.

I don't have much involvement with graphic design but I agree that the impact on journalism and adjacent is pretty awful. Not sure how much is AI per se but certainly the economics have been pretty unfavorable. I'm not convinced it's just AI slop but but quantity can displace quality.

There's a lot of reason to think companies citing AI as the reason for their layoffs are just lying because it looks better to shareholders, and that AI kinda sucks and isn't used for much yet. https://budgetlab.yale.edu/research/evaluating-impact-ai-lab...

Yes. It has a more visible impact on graphic design practiced as freelance work or purchased items, where the person has a choice for each project on whether to pay a person or use AI.

I agree generally as far as immediate losses. But I think longer term with AI soaking up a lot of investment dollars we see other places not seeing investment or hiring growth.

Combined with stimulus and PPP

So, we're just doing whatever it takes to blame the Democratic Party, huh?

Cutting interest rates during a period of time when people were literally locked in their homes waiting for a vaccine to be manufactured? I mean, yea, there were mistakes made, and the PPP and Biden stimulus were very obviously bad decisions, but pretending that tariffs and literally threatening allies has nothing to do with this economy is just lunacy. Just look at what's happening to the American tourism sector. It's falling apart.

I'm a liberal guy, but this take is ridiculous.

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