Big Tech “Capitalism” = Central Planning and “Free Markets” are a Myth as the U.S. Financial Crash is Imminent
We are seeing the collapse of the U.S. financial system drawing closer and closer each day. Last year, the only thing that supported the U.S. financial system and stopped it from completely collapsing, was investment into AI and the 7 technology stocks, referred to as the "Magnificent 7". Today, as we head into the last couple of weeks of the First Quarter in 2024, many of those "Magnificent 7" stocks are beginning to fall back from the AI bubble created in 2023, and there is now really only one of these stocks that has been basically stopping a full stock market crash, Nvidia, the leading manufacturer for the power-hungry computer processors needed to run AI. Nvidia is now worth more than all of these companies combined: AT&T, Boeing, Coca-Cola, Disney, FedEx, General Motors, IBM, McDonald’s, Nike, Starbucks, UPS, and Walmart. Nvidia recently reached a $2 trillion market value and has easily beat the previous most valued Big Tech company, Apple. Apple's valuation continues to decline, along with other Big Tech companies like Tesla, partly because of their dependence on the China market. And many investors are wise enough to see that Nvidia's current valuation is also a huge bubble that is going to burst. Besides Nvidia, the other "product" that is holding up the financial system right now is the new Bitcoin ETF that the SEC approved recently. For those who are unfamiliar with what ETF funds are, they are basically gambling funds where you bet on what is going to happen in the future, without actually owning anything. So if you invest in the new Bitcoin ETF, you don't actually own Bitcoins. You own a share in an ETF fund that increases or decreases in value based on the price of the actual Bitcoins. There are even "Inverse ETFs" that one can invest in, where you basically bet that a certain stock or commodity is going to DECREASE in market value, and the more it decreases, the more you earn in Inverse ETFs. I suspect that an Inverse ETF will soon be approved for Bitcoin as well, where you can make money when the price of Bitcoin decreases. This is what the financial system, our debt-based financial system where nobody really owns anything as it is all leveraged against debt, has become. It is one huge Ponzi scheme, controlled by the Central Bankers. When the power grid and Internet become unstable, and the supply chains break down again, as they did during COVID but probably will be far worse once the riots start in the urban areas, I wish everyone great success in being able to purchase food and basic services with their cryptocurrencies, AI, and other technology products. The world doesn't need the technology to operate, and a lot of people are going to learn that the hard way.