As someone who belongs to “all of us”, i vote to not bail us out if shit hits the fan. No need to ask me when it happens, OK? No really, it’s nice of you but we really dont need to be bailed out. You are welcome :)
Replace you with AI, and when the AI math falls apart, use your tax money to bail out AI
And they’ll get away with it too
> “As someone who belongs to “all of us”, i vote to not bail us out if shit hits the fan.”
You have alighted onto an interesting topic: “bail out”. I believe a closely related word on the semiotic chain is “retreat”.
I don’t feel that our culture would wish to “retreat” from AI. I know quite a few managers and programmers who absolutely delight in the fruits of the industry.
No doubt the titans of the AI industry, who stand to lose their shirts, would also like a bailout. As would the workers under their leadership. Finally, if the governments of the world are taking “AI” technologies as seriously as I think they are, then I should expect a bailout in the event of bubble go boom is inevitable.
In which case, Buy Low; Sell High.
Money isn't lost per se, it's transferred.
ie for every loser there is a winner.
Obvious ones are those who can extract value from this companies now ( high salaries/bonus etc ), swapping worthless paper for real assets, Nvidia and their share holders etc. Investors who hold short positions etc.
Is there a party that supports no bail?
Unfortunately, the votes for a regime of permanent bailouts were already in when Ben Barnacke made his famous speech proposing helicopters over cities if deflation reached a crisis level (though the Internet says Milton Friedman thought of this first). Some later observed "the helicopters only seem to go to Wall Street", which isn't surprising.
Always remember kids. Socialism is bad, it's only good if we bail out banks with billions. While you lose your house, and your job, they get bonuses.
The problem is if large banks fail they take everyone else with them. We should have dealt with this in 2009, but for some reason it didn't happen.
But money talks, I guess.