AI boom is troublingly reminiscent of the 90s tech bubble. After the sudden bankruptcies first of a subprime auto lender, then an auto parts supplier built on hidden loans, JPMorgan’s Jamie Dimon suggested parallels between bad lending in the private credit market and the bad subprime lending that brought on the 2008 crisis. To quote Dimon: “I probably shouldn’t say this, but when you see one cockroach, there are probably more.”
https://paulkrugman.substack.com/p/the-us-economy-is-in-worse-shape