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> if nobody has any money?

This is clearly false, the K shaped economy framing does ring true to me and you are describing the lower half of the K. Those millenials (and younger) with crippling student loans, no savings, and unmarketable skills are a major voting block and will definitely have an impact on policy. The size of the impact will be determined by their level of anger and ability to essentially convince the upper half of the K to go along with wealth transfers (traditionally not easy to do).

Not a problem, LLMs can be very efficient at controlling social unrest.

>It's going to get worse. What people should really understand that there's, so far, only one product for AI and that is labor displacement and wage suppression when we already have historically low savings rate (ie a buffer) [2] and an affordability crisis that is also only going to get worse. How do we have a functioning economy if nobody has any money?

Not only that, wages have stagnated for a few decades, interest rates have been through the floor so nobody can make any money in savings, inflation through the roof, people with billions aren't paying taxes....

We don't have a functioning economy. Our stock market is being kept afloat by AI CAPEX. We have useless politicans afraid of asking trillionaire corporations and centibillionaires to pay their fair share. This country is dying.

I don’t think it was a key factor in the 2016 election. It’s mostly older people (older than millennials in 2016) who vote.

Back to the barter system

It is funny I was a dishwasher for a while $20K income somehow living on that. Then get into tech 5x it and now more poor/in a lot more debt, my own dumb decisions but yeah.

Like the people that win the lottery and end up broke that's me.

GFC? Gordon Food Service?

Global financial crisis presumably