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Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’ (fortune.com)

submitted 5 days ago by cm0002@lemmy.zip to c/usa@midwest.social

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The entire US economy right now is 7 companies sending a trillion fake dollars back and forth to each other, but it's totally not a bubble according to grampa Powell.

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[–] Shortstack@reddthat.com 45 points 5 days ago (4 children)

And all of our retirement accounts are tied to this not-a-bubble

[–] salacious_coaster 26 points 5 days ago (2 children)

Speak for yourself, money bags

[–] Shortstack@reddthat.com 7 points 5 days ago

I've got enough in there to buy a used car, which I guess is my retirement residence at this point 🤷‍♀️

[–] tornavish@lemmy.cafe 5 points 5 days ago

My first thought was… boy I wish I had a retirement account to lose

[–] HubertManne@piefed.social 3 points 5 days ago

It used to be retirement but now its my push off losing my shelter funds.

[–] PunnyName@lemmy.world 1 points 5 days ago

Invest in global market index(es). At least try to diversify so that it's not all S&P 500.

[–] explodicle@sh.itjust.works 0 points 5 days ago (1 children)

That's why I protect my retirement from bubbles by investing in Bitcoin.

[–] DrDickHandler@lemmy.world 2 points 4 days ago

People are so fucking stupid these days I can't tell if it's a joke.