But, there was perceived potential there. Thanks to years of propaganda and reframing, the world came to see AI as this incredible futuristic technology that would revolutionise everything. Yet, the vast majority of people didn’t understand how it worked, its limitations, or its drawbacks. Due to the work published by Google in 2017, AI was just beginning to resemble this potential by 2022.

These Big Tech companies and their major investors had a choice. Follow the monetary policy, and take a minor hit in value while the economy sorted itself out. Or, ignore it, and use this perfect opportunity to embrace wildly unrealistic speculation and keep their value tracking upwards. They chose the latter and, through intra-industry and circular investing, managed to isolate this money machine from the wider economy. . Then, propaganda pushed by the investment banker “analysts” who poured money into this cycle grew it even more, making their own moronic investment “worth” more and giving this trainwreck the appearance of credibility.

This is why the S&P 500 didn’t decrease alongside job openings. Big Tech was large enough and powerful enough to reject monetary policy, so they built their own separate ouroboros-esque economy based on their own deranged desire to grow at all costs, rather than the needs of their consumers or reality.

This has pushed the US into a functional recession, even if the S&P 500 didn’t reflect it. Deutsche Bank found that if you exclude AI expenditure from the US’s GDP, its growth has actually dropped off rapidly to near zero, which is a key warning sign of a recession. The cost of living is soaring, real-term wages have fallen, and unemployment has risen. This threatened to crush the actual economy, so the Federal Reserve began cutting interest rates in late 2024 to boost investment and create jobs and has continued to cut them since.