DOW Down 900 Points

[eric_erosfan]

The grinding inflation and everything else wrong with the economy is on Joe Biden and the Rinos who helped him fuck it all up.

Lol. You used to care about the economy?

 

[John_Q_Dough]

Buying opportunities

 

[OralAllOver]

Are you ever going to lean how our economy and stock market works or just continue to embarrass yourself?

Please explain
How do they work

 

[MajorRewrite]

Dum-Dum Donnie bragged about the Dow being over 50,000 back in February. Now four months later, he’ll get another chance to brag about it if the market turns around.

gOLdeN aGe

 

[OralAllOver]

I've been predicting a stock market correction since April. The entire rise in the stock market this year has been overexuberant expectations regard Artificial Intelligence. Wall Street investors have had unnaturally long patience with the promises of AI, resulting in a "stock market bubble". The market rise has been led by four companies:

• NVidia
• Microsoft Cloud Services
• Amazon Web Services
• Oracle Cloud Services

AI needs hellish amounts of computing power, and only computer chipmaker Nvidia can supply the necessary hardware. Intel apparently gave up on AI yesterday, with a sudden workforce cutback of 15% of professional staff.

The other aspect of AI is that it requires a level of computer cloud storage space, which the "big 3" above can supply in quantities needed.

Goldman Sachs was the first venture firm to draw attention to the fact that the AI emperor has no clothes in a memo to investors last week. This appears to have been the leak in the dam long expected.

Almost a trillion dollars invested in this "next big thing", and AI still creates images of Donald Trump praying on his knees in church with six fingers on each hand. (That's called a "hallucination" by the way). "Hallucinations" are the bane of the AI industry, a machine learning program is only as good as the data that it has been fed.

Evidently, some AI algorithms prioritize quantity over quality. Some are restricted from reading/absorbing copyrighted works (like commercial magazine articles) and this resulted in a huge embarrassment for Google's AI at a public tryout in May when it was asked "Who won the presidential election in 2020?" and it confidently answered "Donald Trump", because the number of crackpot blogsphere posts fed into it claiming "Trump actually WON!" exceeded the number of legitimate news sources presenting the actual electoral college results.

"Alternative facts" carry the same weight as "scientific facts" right now insofar as AI is concerned.

Latest scary AI development: YouTube has begun work on an AI engine developed entirely from transcripts of every YouTube video ever created. Prediction: This will not end well.

What investments, pray tell, present superior returns and less risk?

 

[OralAllOver]

I was a Cub Scout and Boy Scout, so I learned to always be prepared. Sometimes that just meant being adaptable. As a young adult just learning how to live on my own, paying my own bills, buying my own groceries, cooking my own meals, I did run out of paper products a couple or a few times. Being adaptable, I figured out that Kleenex, paper towels, and coffee filters work as toilet paper in a pinch. And that paper towels, tissues, and toilet paper work as coffee filters. I also learned that SCENTED toilet paper makes lousy coffee.

Worst bragging ever

 

[Rightguide]

Lol. You used to care about the economy?

I still do. My fortunes remain tied to it. The unworthies I mentioned, by contrast, spent their energies trying to wreck the machinery of prosperity and then congratulating themselves on the elegance of the wreckage.

 

[MajorRewrite]

Unemployment up to 4.3%. Market down 767 as we speak. Crypto has taken a hit. Intel laying off 15,000 employees. Biden just said he cured the economy. Charley Gasparino is predicting a "Black Swan" recession amid the coming election period. Maybe this is why Harris has refused to have a press conference. Already some in the media are calling it the Kamala crash.

• Unemployment rate is 4.3% currently
• The Dow fell 953 points yesterday
• Bitcoin is down 42% over the last 12 months
• Intel has fired 25,000 employees in 2026

Are some calling it the TrumpCrash?

 

[coati]

• Unemployment rate is 4.3% currently
• The Dow fell 953 points yesterday
• Bitcoin is down 42% over the last 12 months
• Intel has fired 25,000 employees in 2026

Are some calling it the TrumpCrash?

Yes, but to put it in Pig terms, "A LOT of people are calling it the TrumpCrash."

 

[DeluxAuto]

Intel has fired 25,000 employees in 2026

This is after the senile felon used taxpayer dollars to invest in them?

 

[eric_erosfan]

I still do. My fortunes remain tied to it. The unworthies I mentioned, by contrast, spent their energies trying to wreck the machinery of prosperity and then congratulating themselves on the elegance of the wreckage.

Then who is to blame for the current inflationary crisis?