Top economist said there are 40% odds of a 70% crash after Midterms
Photo: Finbold
Economist Steve Hanke warned ahead of the U.S. midterm elections that the current balance of revenue and expenditures in the artificial intelligence ( AI ) sector puts the risk of a financial crisis at 40%, with the potential downside for big tech possibly being as large as 70%. Specifically, speaking in a David Lin show episode that aired on Monday, November 2, the Johns Hopkins University professor of applied economics compared the AI ‘boom’ with previous similar economic flare-ups, describing the current investments in the technology as huge and unprecedented.
Source: Finbold
