🤯BREAKING: Researchers just mathematically proved that AI layoffs will collapse the economy: and every CEO already knows it.
The AI Layoff Trap. A game theory paper from UPenn + Boston University is glaringly important!
100K+ tech layoffs in 2025. 80% of US workers exposed. And no market force can stop it.
→ Every company fires workers to cut costs
→ Every fired worker stops buying products
→ Revenue collapses across every sector
→ The companies that fired everyone go bankrupt
It's a Prisoner's Dilemma with math behind it. Automate and you survive short-term. Don't automate and your competitor kills you. But everyone automating destroys the demand that makes all companies viable.
UBI (universal basic income) won't fix it.
Profit taxes won't fix it.
The researchers found only one solution: a Pigouvian automation tax "robot tax"
The AI trap on the economy is here!
Four engineers get into a car. The car won’t start.
Mechanical engineer: it’s a broken starter.
Electrical engineer: dead battery.
Chemical engineer: impurities in the gasoline.
IT engineer: hey guys, I have an idea how about we all get out of the car and get back in.
Canada fans booed our National Anthem
So Team USA started 3 fights in the first 9 seconds of the game and beat Canada 3-1 on their home turf
Now America is in the Championship game
Free Bird baby🦅
Stock markets around the world are crashing right now, but why?
The answer to this question is the Yen carry trade, a term you'll probably hear many times this week.
So what exactly is the Yen carry trade and why did it cause a market downturn?
A thread to explain:
(1/7)
According to the VIX, the worst market events of our lives were the 2008 financial crisis, COVID, and the Bank of Japan raising interest rates by a quarter percentage point.
Nvidia is up 203% over the past year. They make futuristic computer chips.
Abercrombie & Fitch is up 406% over the past year. They make cargo pants.
Roaring Kitty mockingly threatening E-trade after they weighed kicking him off the exchange by deleting their logo was actually pretty funny
"Don't make me do it. Don't make me."
Thread:
Dollars, gold, #Bitcoin - which is the best for storing your hard earned money?
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All forms of money grow in total value as the global economy grows. What differs is how they do it.
The U.S. prints as many dollars as needed to achieve 2% inflation.