> That's a feature, not a side effect.
You’re implying that the deep lizard state planned the LLM craze?
Sama might be a lizard..
> That's a feature, not a side effect.
You’re implying that the deep lizard state planned the LLM craze?
Sama might be a lizard..
You don't need a back room filled with cigar smoke where supervillains coordinate their plans while twirling their mustaches when good ol' class interest does the same job.
r>g is an old hustle, LLMs just accelerate it. Lizards aren't wizards.
when there was so little capital it had to be true... the idea that it will persist forever is obviously silly.
The problem isn't that it fails to unwind, the problem is what the unwind looks like. Last time it meant global upheaval and world wide capital incineration -- mostly metaphorical in the case of the US but very literal in the case of Europe and Asia. The poor suffer more in real terms but capital suffers more in nominal terms and that unwinds inequality and the burden of furnishing runaway capital with the runaway returns it demands in excess of economic growth.
I'm sure the same "strategy" will work again, but this time around everyone has nukes and drone swarms and AI-equipped bio labs so shit's gonna be lit.
r dropping below g isn't "unwinding". r has been falling for decades now. The world is awash in capital.
r>g, not r<g. In 2025 GDP grew 2.1% and SPY grew 17.7%, which is the pattern recently and throughout time.
Historically r>g, no one is debating that. It's the idea that it will just persist which is silly. Capital isn't immune to supply/demand.
And, r is the return on all assets, not just the s&p 500, and 1 year of returns means nothing...
s/deep lizard state/billionaires/