AI has become the latest Wall Street talisman. Simply saying it enough guarantees riches beyond imagination. From Charles Hugh Smith at oftwominds.com:
As long as we mint millions from a Never-Ending Bull Market, we’ll always stay one step ahead of the Debt Monster. AI! .
Of the many astounding developments of the current era (AI!), none is more remarkable than the proliferation of soothsayers peering into crystal balls to predict The Most Important Trend In The Universe–a Bull or Bear stock market. The computing power and wealth thrown at conjuring up charts, statistics and forecasts is astounding in and of itself, but the proliferation of crystal balls and soothsayers is even more astounding.
After reviewing hundreds of charts, statistics and forecasts on the most arcane correlations and the deepest data-dives (AI!), I’ve reached soothsayer satori: the secret to insuring a Never-Ending Bull Market in which monumental wealth will be piled up by all those entities (software and wetware alike–AI!) who buy every tiny dip and continuously roll over their zero-expiration-day-call-options is this:
Say “AI” 300 times with fervent enthusiasm and then click your heels three times. You will then be transported to a magical paradise where stocks only go down for a few moments to enable dip-buyers the immense satisfaction of buying more stocks at a discount.
Did I forget to say AI? I’m on number 199, and I’m trying not to lose count. AI!
Setting aside the thousands, or perhaps millions, of charts, statistics and forecasts, let’s just ponder one: TCMDO, Debt Securities and Loans, courtesy of the Federal Reserve System.
AI, 200, AI, 201–AI! The first thing we notice is the total debt has been following a parabolic curve since that spot of bother (recession) in 1981-82, increasing 15.5-fold since Q1 1983, 40 years ago, from $6 trillion to $94 trillion.