The entire US economy is currently being propped up by growth in the AI/tech sector. And I am convinced that LLMs are fundamentally incapable of delivering on the promises being made by the AI CEOs. That means there is a massive bubble that will eventually burst, probably taking the whole US economy with it.
Let’s say, for sake of argument, that I am a typical American. I work a job for a wage, but I’m mostly living paycheck to paycheck. I have maybe a little savings, and a retirement account with a little bit in it, but certainly not enough that I can retire anytime in the near future.
To what extent is it possible for someone like me, who doesn’t buy into the AI hype, to insulate themselves from the negative impact of the eventual collapse?
I don’t see the AI bubble burst affecting people to the same degree; I think it’ll wipe out a lot of investment portfolios, but non tech-sector jobs should be safe. I think it’s useful to have some essentials on hand, but I wouldn’t go on a buying spree if that means draining my savings; I’d rather have the flexibility of money. If it comes down to survival and you don’t have savings, you could preemptively apply for lines of credit, use those to cover living expenses, and declare bankruptcy once they’re wrung out. Not financial advice, but it’s an effective stopgap.