JEREMY HSU – Like financial crises of the past, an abrupt end to the AI bubble could inflict considerable economic pain on millions of people worldwide. But the alternative is the prolonging of an AI bubble that is increasingly unsustainable in both the financial and environmental senses, with the winners mainly being some of the wealthiest companies on the planet and their investors.
Tag: recession
5 Facts You Should Know About the Wealthiest One Percent of Americans
ZAID JILANI – It may shock you to learn exactly how wealthy this top 1 percent of Americans is.
As the ongoing occupation of Wall Street by hundreds of protesters enters its third week — and as protests spread to other cities such as Boston and Los Angeles — demonstrators have endorsed a new slogan: “We are the 99 percent.†This slogan refers to an economic struggle between 99 percent of Americans and the richest 1 percent of Americans, who are increasingly accumulating a greater share of the national wealth to the detriment of the middle class.