Stocks took a massive hit Thursday, amid concerns the AI boom could be losing steam, especially now that Democrats have won control of Congress and taken over in key states where data centers are under construction.
Wall Street reacted Thursday to the political shake-up in Washington, the stock market seeing its biggest decline in 19 months with the Dow diving more than 1,800 points, the tech-heavy Nasdaq losing an estimated $2.5 trillion in value in a single day, and the S&P 500, home to most people’s 401(k)s, dropping more than four percent.
President Trump blamed the Democrats’ victories in the Midterms for the sell-off, writing on Truth Social:
“The Stock Market suffered one of the Worst Days in History based on the results of the Election…Your 401(k)s have, therefore, dropped. Remember, it wasn’t Republicans; it was Dumocrats.”
don’t they sorta always do this when the (overt) fascists lose?
Yeah it’s a threat. “Don’t regulate us, it’d be shame if we crashed the economy.”
Chuds: “Unions are bad! Protest is bad! You’re selfishly ruining lives!”
Also chuds: “Never mess with porky. Want to know why? If he doesn’t get his way, he will network with his fellow porks and they will destroy the economy IN PROTEST! Give in to their demands!”
Oh, so unionization is fine as long as it’s the ruling class unionizing? And look at you speaking of the porks going on strike like it’s something they are right to do.
Yeah, which is funny because we all know the Democrats won’t actually do much of anything to them aside from a stern lecture
But I guess even that would be a bridge too far
Isn’t also like half the datacenters in the US threatened because of outcomes of referendums?
Yeah, but that’s less a Democrat thing and more a “People have threatened violence” thing
I know that’s how I got my town to drop the attempt to build a data center
I encouraged the angriest people to threaten to destroy it and then approached the town planning board with a petition and got a referendum on banning them passed
I encouraged the angriest people to threaten to destroy it and then approached the town planning board with a petition and got a referendum on banning them passed
Thank you for your service.
But I was just trying to say that the stock prices didn’t plummet because of the democrats, but because of the results of the binding referendums (even if the state wants to get around that, ithappened so widespread, that it’s not going to work for all of those referendums).
Yeah, capital strikes are typical response.
A I just lost everything in my 401k
Did you tell it NOT to lose everything in your 401K? Learn to prompt!
It’s capital disciplining the blue wave. I don’t even know why since Dems love tech and all these creepy nerds started as Dem darlings, even Elon.
Because these tech companies are less about profits from selling tech and more about accumulation by dispossession and they need fascism for that. Republicans seem slightly more eager in rushing to accommodate that need.
In the end it’s always just crybaby behavior from these spoiled brats, because they’ll still get their fascism, just with a “human face”.
There were a bunch of laws against data centers that passed which goes against the illusion of growth
From Anthropic’s IPO risk statement:
Opposition to data center development has also become more organized and coordinated across jurisdictions and our public profile may draw particular attention to projects associated with us. The loss of, or a significant disruption at, any major facility may not be readily absorbed by our remaining or future infrastructure.
Dang, even Ed Zitron was forecasting another year of hype-fueled market nonsense.
The venture capital behind this shit has become so important to the “growth” of our “economy” that I think bailouts for AI companies are pretty likely. I’m not certain and that’s probably at least a year out.
But wouldnt the bailouts have to be endless cause ai will never be profitable? Whats the plan here?
I think they would love that.
Whats the plan here?
To make them and their friends rich at the expense of the working class
No actual policy. Just vibes is what gets the economy running.
So in a sense, republicans have one argument on economy. “You see, if the politicians are wearing scary blue ties. Porky will freak out and wipe out your savings and jobs in a big temper tantrum, poor porky scares easy, okay?”
Hexbear Market 
I’m seeing boot.dev ads again that are explicitly attacking vibe coding, so I have a feeling we are rapidly nearing the end of whatever this little cycle is.
Didn’t boot.dev have an entire section of courses you pay for devoted to learning how to vibe code?
finally
Nice try, I’m not clicking a CBN video.
