- cross-posted to:
- technology@beehaw.org
- technology@lemmy.ml
- cross-posted to:
- technology@beehaw.org
- technology@lemmy.ml
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The Oracle credit rating is literally one step away from “Junk”!
So at least regarding Oracle, the finance world is onto them.Just a few days ago Oracle was reduced from BBB to BBB-.
Fuck you Larry Ellison
Enron got nothing on these crooks.
Enron wrote a chapter in the textbook these guys read as interns.
https://www.justwatch.com/us/movie/enron-the-smartest-guys-in-the-room
We’re all witnessing a terrifying game of musical debt. At some point the music is going to stop.
Theor goal is to make sure retail 401ks don’t get the last seat.
It’s absolutely crazy to me how many people are investing their 401ks in AI. If you’re gonna gamble away your savings on tech bros, then there’s a much better investment…
As if most people self-manage their 401ks, it’s almost always managed by the holding company unless someone does a PCRA or something along those lines.
And the chair gets pulled out and the public is left on their ass with the debt. Privatize profits, socialized losses.
A Nikkei study put that hidden figure at $1.65 trillion, up roughly eightfold in four years. It is more than the $1.35 trillion the five report outright.
The Enron echo
The money is tied up in off-balance-sheet vehicles, the same kind of structure Enron used to hide debt before it collapsed 25 years ago. Back then it was fraud. Now, tightened rules and fuller disclosures make it legal.
The tools are still there, though. “Enron’s crime wasn’t having special purpose vehicles,” analyst Gil Luria told Bloomberg Law. “Enron’s crime was hiding them.”
We’re on track for what several analysts said would happen prior to an AI crash around November to February.
OH TAXPAAAAAAYERS
WE’D LIKE ANOTHER BAILOUT
Scratch out Enron, replace with AI companies
Damn that’s around 1% of the entire global GDP…
Now that every generation from gen-x on mostly no longer gets pensions but gets 401ks this can really f up people’s savings that they will depend on in retirement.
Oops didnt mean to! ;)
