The "faster growing economy" is basically 100% AI speculation now. If that gamble pays of the US is still in trouble (as is the rest of the world), as there doesn't appear to be even a hint of a plan of what a post-AI society looks like for anybody but the top 0.1%.
I don't think the top 0.1% has a plan, either. From my personal interactions with them, they are mostly just excited they can talk to a chatbot on their phone all day, and then make questionable decisions from that - to use a recent example, deciding to be their own general contractor and make a house remodel cost an extra million and take an extra year to do.
The money and time to pursue any passion or hobby they wish, or simply travel and enjoy the world's leisures. They can run a small company, never worrying about profits to survive because their interest will keep them afloat.
And instead of delegating or relaxing or honing a talent, they still have this need to pretend they are a craftmen and waste everyone's time, instead of playing Factorio or Stardew Valley or X Simulator like the rest of us plebs do to scratch that itch. What a waste.
Well, Musk for one is promising not universal basic income, but universal high income. In a country where a lot of people don't even have health insurance. Let's see how that will work out, I'll believe it when I see it...
Does anybody honestly think that guy is gonna willingly relinquish any of his fortune?
After the eradication of humanity as we know it, a few survivors can start their own country with a law defining the term high.
I don't believe it when I see it. I call it poppycocks. Because if you do want to argue such, you need to define the path to get there. Without that, it sounds like a pipe dream. Akin to say Leninism.
>The "faster growing economy" is basically 100% AI speculation now.
True, however, the US does more export manufacturing than the EU and at higher profit margins to boot. So even without the AI industry, the US is still in a far stronger place economically than EU.
The EU's massiv offshoring efforts, lack of innovation investments, red tape, environmentalism and high energy prices have left its domestic industry weaker and more vulnerable to foreign competitors and malicious foreign dependencies it can't control since it doesn't have any hard power to use as leverage to protect its industry.
Sure, the EU started to remilitarize and move away from fossil fuels to renewables, but this titanic effort is gonna pay back and maybe restore balance in 5-15 years time, and it remains to be seen if by then its economy will have just fallen further behind, since investors and the world aren't standing still waiting for the EU to catch up with them, but are instead exploiting the EU's current weakness to pull further ahead.
Like Germany's exports are now back to 2006 levels, and its domestic giants like BASF is further downsizing operations in Germany and building a massive 10 billion $ factory in China which is totally not gonna make Germany's policies tied to the whims of the CCP the same way they were tied to Russia's gas. BOSCH just announced 20k more job cuts in Germany and moving abroad till 2030. etc
Remains to be seen if this damage can be undone in the future, as things are currently patched up by massive government spending to cover up the private industry lack of spending, which isn't sustainable and eventually the cracks will get bigger.
I would consider bonds and treasuries a stronger signal than any lack of "post-AI" political vision.
China's security establishment has gone public with the view that their purpose is no longer to find answers to the question 'how do we survive the US?', but instead to something like 'how do we manage the US?'.
In the coming years US power projection is not going to look anything like the stuff we grew up with, that social and military influence just does not exist anymore. Right now, things are pretty good, compared to what they'll be in a year or two. It's likely we'll get a brutal el Niño, fertilizer and lubricant shortages, gnarly energy prices and more, all at the same time. The US is closing down food production at a rate that would keep me up at night if I lived there.