AI stocks are going for broke right now. Most of the companies will simply go broke. From David Haggith at thedailydoom.com:
The economy is sneaking toward a second run at recession, even as GDP appears to be lingering positive. The monster never really left. It just hid behind tariff front-running.
At the start of the year, I was calling it a “stealth recession.” News today is that 22 states are fully in recession. Half of the rest are just “treading water,” and the remaining quarter or so are still hanging in there on the positive side.
The U.S. economy is very close to falling into a damaging contraction — and many states are already experiencing a recession, according to Mark Zandi, chief economist at Moody’s Analytics.
As a result, it is not too surprising, that only 2-in-10 people surveyed think Trump is doing a good job on the economy. That number, however, also means a good portion of Republicans think he’s doing poorly with the economy, which is a little surprising. A total of 74% of people polled rate the economy as either “fair” or “poor.” The Republican party, as a whole, however still ranks higher in almost everything than the Democratic Party.
“Who leads on the economy? Republicans by seven. Immigration? Republicans by 13. How about crime? A big issue for Donald Trump and the Republicans. Look at that lead, by 22 points!… So the bottom line is, at this particular point, the ball may be on the ground, but the Democrats have not picked up the ball and running [sic.] with it. If anything, at this particular point, it’s the Republicans who are running with the ball on the top issues, the economy, immigration and crime.”
Going for broke
In real terms of how the economy is impacting individuals, Chapter 7 bankruptcies for individuals are up by 15% for the first nine months of the year.
The sharp rise highlights mounting financial pressure on households, Michael Hunter, vice president of bankruptcy data provider Epiq AACER, said in the ABI statement.
“The growth in active Chapter 13 case inventory suggests more consumers are turning to bankruptcy as a necessary financial reset. We expect this upward trend to continue, with a strong likelihood of accelerating into 2026.”
Commercial bankruptcy filings are also on the rise.
It will take 1929 style wipeout for the CBDC digital ID New Man workers utopia.
Self-Inflicted just like the first one because control freaks just don’t know when to quit.