Everyone Is Asking If the AI Bubble Will Burst. That's the Wrong Question.

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The average American is in serious trouble.

Inflation is rising. Wages are falling. Real wage growth is running negative. Yet consumers are still spending — by raiding their savings — which is dragging the savings rate toward record lows. If those savings run dry before inflation is fixed, consumers will literally run out of money to spend.

All the while, more AI-driven layoff announcements are hitting the tape every week, threatening the very labor market providing Americans’ paychecks.

This situation is unsustainable.