… as hundreds of billions of dollars are flooding into artificial intelligence, there are serious concerns that an AI bubble could trigger another bailout with taxpayer money.
In the interview that follows, leading progressive economist Gerald Epstein, who initiated and directs the Game Changers project at the Political Economy Research Institute at the University of Massachusetts Amherst, talks about AI’s impact on finance and the bailout problem and how a transformative public finance strategy can revive democracy, promote equity and social justice, and build strong and sustainable communities.
There’s no industry the US government won’t bail out, because the US government is corporate sponsored.
We bail out banks.
We bail out farmers.
We bail out military contractors.
… and on and on and on.
Because they “donate” to bOtH pArTiEs, and they expect a return. They don’t do this out of charity.
I think it’s worth adding that those companies intentionally run shit into the ground, taking the global economy with them, because they know the gov will ball them out.
Aha! the solution is for citizens to become industry. Then they can bail us out.
tHaT’s EvIL sOsHuLiSm!
Well don’t you know we have socialism, but only for real people - you know, Citizens United people.
Bailing is the agricultural process of cutting, drying, gathering, compressing and tying up of forage crops into compact, manageable bundles for easy storage and transport.
Therefore, I am all for bailing the CEO’s out of AI companies. We can all lend a hand in cutting them down, drying them, gathering them, tying them up and compressing them into manageable bundles for easy storage or… whatever… toss them into a volcano?
Baling*
Correct. They are getting bailed out, the terminology from using buckets to keep a boat afloat, hence the usage in this context. They are attempting to keep the industry afloat. Farmers bale things.
Sounds like a recipe for jerky. Eat the rich.
Artisanal hand-crafted AI billionaire jerky.