Back in April I presciently predicted, or perhaps just noted, The End of the World as We Know It, due to the Mango Mussolini's idiot tariff policy. But the sad story turns out to have a happy "ending": things have largely recovered. I put ending into quotes because, obvs, there's plenty of time for things to go wrong.You may, like me, be tempted to suggest that all of that recovery and surge is AI hype, but you're probably wrong: el Econo reckons One concern is that artificial-intelligence investment spending, especially on data centres, is the only thing keeping the party going, spelling disaster if investors cool on the technology. This argument is strongest in America, where investment in information-processing equipment and software (IPES) accounted for about 40% of growth in real GDP over the past year. Yet, at an absolute minimum, two-thirds of IPES has nothing to do with AI. The data include, for instance, a business buying a computer. In addition, outside America there is no evidence whatsoever that IT is driving growth. Instead, the story is the resilience of the real economy even when the pols fuck it up, as long as they don't do so too badly.
Refs
* Abundance 2025 - Review by RP Jr.
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