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It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says
(www.businessinsider.com)
this post was submitted on 16 Oct 2023
239 points (90.8% liked)
Technology
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Good, let it all collapse. I want to see the 1% shit themselves before climate change kills them.
That's not who suffers most in financial collapse.
So, how do we engineer a situation in which the richest suffer most? End of capitalism?
Greatly increasing taxes for the super wealthy and closing tax loopholes would be a good start.
If they haven't done all this until now, what makes you think they'll do it then?
The rich will get off unscathed with a blank canvas to work on, and the poor will pay the price, just like with every other market crash.