Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

paleotn

(23,229 posts)
11. Perhaps, but many don't know.
Mon Jun 29, 2026, 12:10 PM
Jun 29

They actually believe their own garbage. Just because someone finds themselves rich and in charge of some company, or even president of the US for that matter, doesn't mean they're intelligent and have any rational idea what they're doing. No grand scheme or even an exit strategy. Musk for instance is about as talented as the average 13 year old hyped up on sugar and energy drinks in mom's basement. They may think they're "masters of the universe" and our vapid media may fawn on them, but in reality, they're mediocre. Fortune simply smiled on them for no apparent reason. She does that from time to time.

In my mind, those are the most dangerous people on earth. They have to the tools to do great damage, but not the good sense to even protect themselves from the fall out. That's why financiers and business types throwing themselves out of windows during a panic isn't all that uncommon.

Recommendations

2 members have recommended this reply (displayed in chronological order):

Hope for the best, prepare for the worst. oasis Jun 29 #1
So I guess the coming oil crunch will have nothing to do with it... JCMach1 Jun 29 #2
The 2007-08 crash was immediate preceded by $120+ prices per barrel of oil AZJonnie Jun 29 #3
It is rarely so simple as one thing no matter what the MSM JCMach1 Jun 29 #4
Big tech was causing serious financial instability... paleotn Jun 29 #9
Th JCMach1 Jun 29 #12
Krugman compares it to the tech bubble: tremendous over-valuation of companies that are making no profits. Martin68 Jun 29 #5
It's worse than the tech bubble SamuelTheThird Jun 29 #14
Yes. LudwigPastorius Jun 29 #15
Good points. Krugman also pointed out those facts. Martin68 Jun 29 #17
It's not about the technology at this point, it's down to just a giant grift and cash grab ToxMarz Jun 29 #6
Exhibit A: f-eloon cashing out not fooled Jun 29 #7
Perhaps, but many don't know. paleotn Jun 29 #11
I have been saying for some time that conditions are very similar to the period just before the Great Depression. flashman13 Jun 29 #8
Not to worry. We got the best president ever, running the country unlike before the Great Depression. People are 3Hotdogs Jun 29 #18
Not a secret. Was reported on before the 2024 election. Blue Full Moon Jun 29 #10
Yeah, but look who is saying it now SamuelTheThird Jun 29 #13
It's the dot com bubble all over again. CaptainTruth Jun 29 #16
It could be worse Renew Deal Jun 29 #19
I fear it's going to be worse. Initech Jun 30 #20
Me too.... CaptainTruth Jun 30 #21
Latest Discussions»General Discussion»Central Bankers warn AI B...»Reply #11