Post #2792719

2025-10-31 12:53 UTC

@MedeaVanamonde @pndc @cstross and because people continually ask: The only thing keeping &#39;08 from being a total implosion was underlying assets. Houses are an underlying asset that got turned into predatory rentals. &#39;01, you had offices, IP, businesses that COULD work, and hardware to recover with. With much smaller holes to fill. This time? It&#39;s a literal Ponzi scheme. Basically all of the hardware is ewaste. There&#39;s no trillions in IP - not even millions. Just *trillions* in pure fakery.

Replies (4)

@ploum@mamot.fr 2025-10-31 14:43

@rootwyrm@weird.autos @MedeaVanamonde@beige.party @pndc@social.treehouse.systems @cstross@wandering.shop : What is relatively new, IMHO, are the fascists goverments which want to keep this bubble going at all cost, printing money for it at unprecedented scale. If you take a contrarian approach, it is surprizing that even mass media are starting to talk about the bubble but it doesn’t pop (while a bubble usually pop when there is the most enthusiasm). I wonder if my first point explain the second.

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@coppercrush@beige.party 2025-10-31 19:15

@rootwyrm@weird.autos @MedeaVanamonde@beige.party @pndc@social.treehouse.systems @cstross@wandering.shop ok this is the smartest analysis ive seen. this is the narrative that people need to start pushing. this is tulips all over again.

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@david_chisnall@infosec.exchange 2025-11-01 09:01

@rootwyrm@weird.autos @MedeaVanamonde@beige.party @pndc@social.treehouse.systems @cstross@wandering.shop The only thing keeping '08 from being a total implosion was underlying assets It’s worse than that, because there was another factor. There was a huge amount of international cooperation led by boring competent people like Gordon Brown to firewall bits of the economy by propping up a few key banks. Imagine trying to do that when Donald Trump needs to agree. He doesn’t understand the concept of cooperation and treats every interaction as transactional. And he doesn’t care about whether it benefits the USA, only whether it benefits him personally. The only hope is that other governments are already quietly planning how to let the USA’s economy collapse completely and mitigate the damage that this does to the rest of the world.

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@timber@mastodon.social 2025-11-01 19:31

@rootwyrm@weird.autos @MedeaVanamonde@beige.party @pndc@social.treehouse.systems @cstross@wandering.shop The hardware isn’t necessarily ewaste though. All those petascale data centers and processing power could be the base capacity for a surveillance state the likes of which I find difficult to fully imagine. I don’t know if it will - I don’t know if the current crop of authoritarians is that smart - but I think it’s a legitimate risk.

Open ##3518328