This is how monetary policy works, new debt inflates a large bubble, it fails, then they bail it out. This usually leaves a bunch of infrastructure behind, but the bailouts poof that bad investment out of existence because it was all fake money to begin with. Powell has said this many times about the dotcom bubble.
Good news. That is a lot of resources put forward for nothing more then a shiny new piece of tech which is mostly used as a toy.
This is how monetary policy works, new debt inflates a large bubble, it fails, then they bail it out. This usually leaves a bunch of infrastructure behind, but the bailouts poof that bad investment out of existence because it was all fake money to begin with. Powell has said this many times about the dotcom bubble.