@shoq It’s not even ‘Trump is the problem, and the US will recover politically’ per se. But the enormous commodity grab by his #bigtech oligarch buddies that is the real reason the US (and the world) will not recover swiftly.

The only remedy for all of this would be if consumers would stop consuming immediately and leave bigtech with large unsettled debts…

Chances of that happening: very remote. But at least I am doing my bit 👌

Ha ha, a number of Big Tech firms have moved around $120bn of debt being used to build AI-focussed data centres off their balance sheets into special purpose vehicles (SPVs) funded by banks & other investors.

Why would they do that?

Well, one key reason would be it (at least partly) inoculates them from any coming AI-related financial crisis - leaving the risk of default with the SPVs if the bubble bursts & AI-related income fails to cover debt payments!

#BigTech #AI #FinancialCrisis
h/t FT