Stock market analysts and investment bankers have been saying for a few months the the AI bubble rapid i.e.the surge in the value of these companies based on stock market trading in their shares, about to burst? Big tech’s gargantuan capital outlays – surging tenfold in the three years since ChatGPT was publicly launched – look increasingly unsustainable.
By some measures, artificial intelligence (AI) now sucks up more than half of America’s combined investment pool. Yet the promised uplift to business productivity hasn’t materialized.
According to techopedia.com, investment in artificial intelligence has sailed past levels last seen during the peak of the dotcom bubble. Jens Nordvig, founder and CEO of macroeconomic consultancy Exante, says AI-related capital expenditures now represent about 2% of America’s GDP. But scepticism is in short supple with people like Larry Fink, CEO of Blackrock, the world's biggest asset management firm fully on board with the hype.
Big tech AI data center spending has risen 10x in the last three years alone. The arrival of ChatGPT in 2022 has led to an AI bubble so big it’s consuming more than half of America’s cumulative investment pool.
So unquenchable is the industry’s thirst for cash that the world’s biggest economy may not have enough to slake it. OpenAI chief Sam Altman has already been fundraising beyond America’s shores, hoping to raise some $7 trillion from sovereign wealth funds and other sources in the UAE and elsewhere. AI has been said to pose an existential threat, not to humanity itself but to our savings, pensions and investments.
The AI euphoria driving this is partly due to global debt having ballooned from $64 trillion in 2000 to $338 trillion today.
Every major asset — stocks, bonds, property — has been inflated by
decades of easy money. What looks like prosperity is really devaluation in
disguise.
Meanwhile, most investors no longer pick stocks; algorithms do.
Trillions flow automatically into ETFs that chase price momentum, not
profit. When liquidity dries up, everything will fall together.
Even the gains AI firms are making come at a cost elsewhere. As the industry sucks up all the available capital, it’s also consuming massive amounts of electricity. Hyperscale data centers use roughly 4.5% of America’s electricity, a figure that could triple in the next two years. That’s raising electricity prices – up about 13% on average between October 2022 and June 2025.
AI centers require significant power to operate and a lot of water to keep them cool, straining local grids and raising utility water prices in areas where these data centers are concentrated. That puts upward pressure on inflation, making both households and businesses more costly to run.
And the supposed AI “revolution that is going to kick off the fourth industrial revolution and even pose an existential threat to humanity? A July MIT study found 95% of AI projects deliver zero profit. Yet trillions in capital keep flooding in. Data-center investment alone could exceed $5 trillion by 2030 — which would require AI services to generate revenues equal to 10% of total U.S. GDP just to break even. Pure fantasy economics and yet the oligarchic insanity over an AI takeover of everything goes on unabated.
On top of all that it emerged last week that AI large language models can quite easily be 'poisoned' and caused to spew out gibberish by hackers.
AI is a massive mis-allocation of capital running in trillions of dollars. Now the data-center theme seems to be going out, people rejecting data centers across the west, due to their energy issues, and effect on fresh water sources.
So many sub-sectors of stock markets have already been falling 6 months or more (transportation, chemicals, materials etc.) but this has largely been concealed because a few big tech corporations heavily invested in AI have propped up the indexes so the headline figures have looked good.
As Wall Street, Lndon and other stock exchanges brace themselves for tech carnage, analysts are starting to wonder if a bigger financial collapse than the dot-com collapse is just around the corner.
AI may be approaching its moment of truth. A technology built to unleash the economy is starting to weigh it down.
The investment flows that have and are still inflating the AI bubble are dependent on monetary flows, and right now we seem to be seeing another liquidity crunch, which will take down everything. The key issue is who is going to save the banks that are too big to fail this time.
FROM THE ARCHIVE:
Pretty soon, computer wizardry and artificial intelligence will allow video footage to be created that is practically indiscernible from the real deal. Add holographic technology, and soon a person apparently be speaking live on screen and you’d never know it was fake. The ethical ramifications of AI and technology are simply mind-boggling.
WikiLeaks have today released documents from the Vault 7 cache, a group of leaked information which contains details on the CIA Angelfire spyware tool which was developed to facilitate loading and execution of implants targeting computers using Microsoft Windows operating systems.
Electrosensitivity - the Wi - Fi disease.
So you thought people who wear tinfoil hats are crazy conspiracy theorists? Not so fast there, some of them might actually be onto something.While these people are not tinfoil hat wearers either literally or in a metaphorical sense, the measures they take to avoid exposure to electromagnetic radiation (radio - activity) can seem rather paranoid until you know more about them.
Google: Benefactor Of Mankind Or Evil Empire (or buch of idiotic nerds who got lucky?)
They way Google has come to dominate the internet just as the internet has come to dominate our lives can't all be down to good luck and careful planning can it? As this page develops you will see how sinister forces guided Google to their current position.
Shock, Horror! Millennials Safe Space Violated As Facebook Algo Accident Exposes Them To Diverse Ideas Late last month (August 2016,) the Zuckerbugger's zoons put an algorithm in charge of the Facebook “trending” feature, to select the most popular topics, articles and keywords on the web in a narrow timeframe and with due respect for the 'safe space' of millenials who can be traumatised if they encounter microaggrrrrressions in the form of controversial ideas or unorthodox opinions ...
Government Paid Trolls Are Using 'Psychology-Based Influence Techniques' in Social Media
Have you ever come across someone on the Internet that you suspected was a paid government troll? Well, there is a very good chance that you were not imagining things. Thanks to Edward Snowden, we now have solid proof that paid government trolls are using “psychology-based influence techniques” on social media websites such as YouTube, Facebook and Twitter.
Zuckerberg reveals Facebook Working On Apps 'Smarter Than Humans'
In an online Question and Answer session this week Facebook supremo and founding megalomaniacal sociopath Mark Zuckerberg announced that his company is engaged in building AI systems "that are better than humans at our primary senses."
War On Cash - A Country By Country Guide
More on the global war on cash being waged by ruling elites in parallel with their war on privacy as they try to exert total control over everything.
Obama Crowns Himself Emperor Of The Internet
Barack Obama's seizing control of the internet by executive fiat is a serious breach of The US Consitution but for the rest of the world is perhaps the clearest idication yet of what the man is all about. Comparisons with Hitler can no longer be dismissed as a conspiracy theory.
Online shills paid to control your perception by spreading propaganda using up to 10 online personas
Libertarian and freethinking bloggers and new media writers are having a great time. For years our efforts to warn people about the opush towards global fascism earned us hate attacks and accusations that we were conspiracy theorists. And now, alomst daily, another of those conspiracy theories is being proved true
War On Cash Begins, It Is Not About Keeping You Or Your Money Safe From Muggers
Government and big busin.ess has been nudging us towards abandoning cash for electronic money for a long time. Now the Frech government has become the first to move towards making cash illegal (because government can't keep tabs on what you do with your money when cash passes from hand to hand ...
Being Evil? Just Another Day At The Office For Google Boss.
Google boss Eric Schmidt has defended Google's barely legal tax avoidance practices saying Googl;e's contribution to UK national life is more important than the money they owe us. boycott Google, Big is a good serach engine.
Neuromancers and other neuroscience fiction
n recent years the scientific community have been clamouring to tell us thy are close to mapping the workings of the human brain and understanding the workings of the human mind. now I recall while recovering from a brain haemorrhage fifteen years ago being told by a very good doctor that medical science was only just starting to understand that the brain (a physical organ) and the mind (a mystery) were very different things. And I have neither read nor heard anything since to make me think he was wrong.
Quantum Soul
Science has for two hundred years dealt with the mystery of human consciousness by conflating the mind with the brain. In spite of a growing hill of evidence that the two are very different things and…
In the first part of Black Hat Biotech I reported on how a single corporation are close to establishing a monopoly as supplier of seed for the world's staple food crops.Now we look at how that same corporation either by buying political influence or other, less ethical means (if you know what I mean) has come close to ...
The Grand Illusion Of Self And The Key To Slowing The Ageing Process?
We all have an idea of who and what we are but is it anywhere near the truth. Science scoffs at notions like mind over matter but what if there is more mind than matter. The Hindu and Buddhist concept of Maya tells is what we think of as reality is an illusion ... (Index Philo and Sophia)
Obama's Dr. Evil Presidency OKs Biological Warfare Research Using Human Babies
This shocking article embedded here from Nature News shows how deeply corrupt and morally deficienty the Obama Adminidtration truly is. OKing experiments on American babies for a program that can only be aimed at handing more taxpayers money to Big Pharma is extreme even for the crack smoking, rent - boy fucking President of the New World Order's puppet regime.
Eugenics Belongs To The Left Not The Right Whenever the topic of population growth is brought up in a forum or comment thread usually on climate change, and it is suggested that any policy to save the environment must include measures to curb the…
Climate Fraud Watch: How The United Nations Made 50 million Refugees Disappear.
A decade ago The United Nations promised us that if carbon emissions were not curbed sea levels would rise swamping island nations and low lying coastlines and there would be 50 million refugees. Well carbon emissins increased, temperatures got sightly cooler and the refugess disappeared...
Facebook boss Zukerberg Wants To Own The Internet Facebook's latest acquisition Whatsapp cost $19bn, that's $40 per user. Whatsapp charge their users $1 per year. That means it will take Facebook 40 years to recover their outlay. And people are buying shares in this company? Insane. Facebooks Latest Violation Of Users PrivacyThe Daily Stirrer looks at Facebooks latest embarrassing climbdown after initially denying a new data mining scheme covertly violates users privacy ... Google's Schmidt Tells US Senators "We're Not MocrosoftGoogle executive chairman Eric Schmidt, giving his testimony to the Senate Judiciary subcommittee that focuses on antitrust began by recalling a ghost of the committee's past: Microsoft. Schmidt never actually mentioned its arch enemy but it is clear ... IBM Develop Computer Chips To Replicate The Human BrainTodays main story deals with an old chestnut that resurfaces ever two or three years. Some scientists dream of creating life in a test tube or growing human clones for spare parts. Others dream of using drugs or chip implants to turn us into unthinking automatons. And still more want to build machines that think like us and have human senses ... Facebook's Privacy Priacy Once again Facebook are in trouble over their contempt for users privacy. It is quite astounding that this upstart corporation that is quite open about its ambition to control the internet does not seem to understand there are lines that cannot be crossed when it comes to broadcasting or "sharing" details of users private lives. Webupon Facebook - privacy issues
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Last week we heard that Germany is facing a €147 Billion budget deficit over the next couple of years and yet Germany is owed over €1 Trillion from the Eurozone Target2 inter national central bank settlement system. It sits as "electronic IOU'S" on the Bundesbank balance sheet item 9, as a putative asset. When are they going to recognise they have been ripped off by the usual "club med" economies and demand to have cash rather than IOUS which are impossible to spend ?
According to economist David Blake's article " Target2: The Silent Bailout System that Keeps the Euro Afloat: a key underlying problem is that the Eurozone does not satisfy the economic condi-tions for being an Optimal Currency Area, i.e., a geographical area over which a single currency and monetary policy can operate on a sustainable, long-term basis. The different business cycles in the Eurozone, combined with poor labour and capital market flexibility, mean that systematic trade surpluses and deficits will build up because inter-regional exchange rates can no longer be changed." (download the full article,)
Essentially Germany is stuck with an unrecoverable debt or risk bankrupting several EU central banks and thus wrecking the Euro and probably the EU too.
What most people do not realise however, is that the EU is a bureaucratic dictatorship. All the power is with the unelected Commision, MEPs have no power, as their job is to implement the directives from the commision. Having worked at the EU administrative centre in Luxembourg I became familiar with EU law and the truth about the EU, which is that the EU is no friend of democracy and has always wanted to be an empire.
Yes, ruled by the Commissars of Brussels following the plan laid down by Germany following the Convention of German Economists in 1941, the European Union wanted to rule Eurasia with a bit of North Africa thrown in. Just Google <Walter Funk and Die Europaischewirstschaftsgemeinschaft>. Also look up Arthur Noble on the same subject. Interestingly this plan involved the de-industrialisation of the UK and the Rep.of Ireland because of the 'damage' we supposedly inflicted on Germany after 1914-18. This was undoubtedly applied during our membeship of the EEC/EU but the RoI have obviously been let off, no doubt due to their neutrality during 1939-45.
Le Pen Calls For Referendum To Stop “Submersion” Of France Via Mass Immigration
Germany sliding into ‘dangerous’ anti-Europe hysteria warns top economistMarine Le Pen, leader of the French Rassemblement National (National Rally) has called for a referendum on immigration policy to stop what she called the “submersion” of France via a “globalist” program of mass immigration. Speaking in a debate on problems caused by mass immigration, Le Pen told the French Parliament that the political establishment had betrayed French people ...
Germany Heading ForPolitical Instability After European Assembly Elections?
Chechen Islamic Police Now Enforcing Sharia Law On Streets Of Berlin
German Interior Minister Demands Tougher Asylum Laws After ‘Orgy of Violence’ Mob Attack
Macron Vows to Fight ‘Islamist Separatism’ with New Reforms
French President Emmanuel Macron has declared his government will fight against “Islamist separatism” with reforms including ending residency for foreign imams. Page ContentsYellow Vests Protest Merkel-Macron Plan To Integrate Defence, Foreign Policy
The left wing wankerati will not doubt be screaming about racism and xenophobia when they learn of the latest exploits of the German Yellow Vest movement who were out protesting against the latest step Hausfrau - Volksfuhrer Merkel and The Boy Macron have taken towards politically integrating Germany and France, on which Original Boggart Blog and The Daily Stirrer have been following developments ...
Residents Of Paris Suburb With Migrant Ghetto Feel ‘Abandoned’ as Crime Surges
In the areas where [ migrants ] have congregated, usually places with a surfeit of run down municipal housing the lawless behaviour in the migrant communities is causing problems for French people. Despite promises from government to increase police presence, residents of the 18th arrondissement of Paris say they feel abandoned as crime rises in the area.
LITTLE ISTANBUL: Turkish Muslims have made Germans feel like foreigners in their own country When Turks buy a building, they don’t allow any German people to move in. The next thing you know, there is a mosque and soon the whole neighborhood has become a ‘NO GO Zone’ for non-Muslims.
'Islam Doesn't Belong to Germany' - New Interior Minister
While mainstream media was hailing the political mastery of Hausfrau - Volksfuhrer Merkel in negotiationg a new coalition deal to keep her in power for another four years, after Germany had been without a government for almost six months, The Daily Stirrer (and other alt_news sites to be fair) warned that the new government of Europe's most powwerful economy was fragile and full of holes. Only days after Merkel was sworn in for a fourth term, the holes in her coalition started to appear ... Continue Reading">
After Triggering Mass Migration Crisis, Germany Bribing Foreigners To Leave Though Angela Merkel clings to power the effects of her 'open doors' immigration policy damage Germany. It may amuse nationalists to observe as, with one face the pledges support for a United Nations initiative to open all national borders, while with the other she tries to persuade German voters she has listened to public opinion and understands her mass immigration policy is abhorred by a majority of voters ...
Migrants Riot And Use BATTERING RAM To Smash Through E U Border Checkpoint
today used a home-made battering ram in an attempt to force their way through a border control point between greece and Macedonia. They also threw rocks at police, who retaliated with tear gas. The migrants destroyed a gate on the border but Macedonian military personnel were on hand and it is not clear if any actually managed to get through the broken gate ... (immigration)
Migrants Mass At Greek Border Waiting To Cross Into Europe
An estimated 6,500 undocumented travellers were assembled at the Idomeni camp on Greece’s northern border with Macedonia on Saturday according to news feeds, after four Balkan countries announced a daily cap on migrant arrivals. The log jam began after Macedonia began refusing entry to Afghans and imposed stricter document controls on Syrians and Iraqis, slowing the passage of migrants and refugees to a trickle ...(immigration)
EU Enlargement Commissioner Accuses Russia Of Flooding Europe With Migrants
We have learned that The European Union’s (EU) Enlargement Commissioner has claimed Russia is working to destabilize the continent by flooding it with migrants from Tajikistan and Turkmenistan. This sounds like one of brussels' crazy and incompetent attempts to demonize Russia in the hope of eroding EU members opposition to the all out war the USA, Turkey and Saudi Arabia have been pushing for ... (immigration)
NATO Warships in the seas Odysseus Sailed Spell Trouble For EU
In an apparent effort to reduce the flow of migrants making their way from Turkey to Greece across the Aegean Sea, and because of the mistrust between the nations on either side of that body of water, pressure has been put on NATO (of which both Greece and Turkey are members)by the EU to deploy ships to the Aegean Sea ... (immigration)
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Hmmm....
2015 January Gazprom announces Nord Stream 2
2016 January Initial planning and Construction of Nord Stream 2 starts
2017 April Poland tries to block Nord Stream 2
2018 January Germany approves Nord Stream 2 in its waters and where it makes landfall
2018 May Construction of the landfall starts at Greifswald Germany
2019 January US ambassador in Germany, tries to stop the project threatening sanctions.
2019 April EU gas pipeline amendment regulations are passed, making
Nord Stream 2 pointless, but construction now over half complete, continues
2019 December US Senators warn of more sanctions if construction continues
2020 May German energy regulator refused an exception from new rules that require
Nord Stream 2 to separate gas ownership from transmission.
2021 June Putin announces first string of Nord Stream 2 completed
2021 August Dusseldorf court upholds EU gas pipeline amendment regulations making
Nord Stream 2 pointless
2021 September Putin announces second string of Nord Stream 2 completed, total cost of
construction around £10 billion
2021 October Russia starts building up troops on Ukraine border threatening war
2021 November Russia has over 100,000 troops on the border
2021 November German regulator suspends regulation of Nord Stream 2
and EU gas prices rises 17%
On 22.02.2022 German Chancellor Olaf Scholz suspends certification of Nord Stream 2
On 24.02.2022 Russia invades Ukraine
Things that make you go Hmmm.