Bursting Bubbles

Everywhere there is increasing nervousness about this growing AI/ data center bubble. According to much of what I am reading, the insane investment in this one dubious sector is the only thing propping up a hollow global economy. If you think there is rebellion now, if /when that bubble bursts it will be ugly. I guess that's why so many are hedging with gold, but it seems unlikely a safe full of gold will save you when there are soup lines stretching around the block. The other problem with having your entire economy depend on one technology is that somebody who doesn't like you might have control over a critical component of said technology. If you forgot about the whole "supply chain" thing, because you were busy deporting workers or firing workers, you could be screwed. The other bubble that could burst is the idea that so-called "democracies" are governed by and for the people. As Trump threatens to crash Argentina (again) unless they vote in his boy, the people get a glimpse of who is in charge. Sort of like the Brits did when the markets forced Liz Truss to resign. Mamdani is touting the past success of "sewer socialism" as he campaigns, but if this program was so successful, wouldn't we all be social democrats by now, if not actual socialists? Unfortunately, the opposite is true, that is, it is the forces of reaction which now dominate. Shouldn't we be asking why "sewer socialism" failed? Dozens of major cities were governed by socialist mayors in the last century and brought lots of services and benefits to working class people. What happened to all that? I would suggest a couple of things. First, those benefits proved to a lot of people that you could have a kinder, gentler capitalism that shares some of the surplus. The other thing that happened was when the balance of power began to shift a bit too far towards labor, Capital went on strike. As it always will. A couple more bubbles bursting: The Children's Trust lawsuits against the Trump administration's lack of climate action and The No Kings protests. This is the most resistance liberals can imagine: going to court or standing on the sidewalk counting honks. Neither gets you where you need to go, in fact it could be argued ( I do) that these actions are counter-productive, that they just set you spinning in an endless loop. They are designed for the old media/ political landscape that no longer exists. We now live in the liminal space predicted by Baudrillard- the Spectacle of DeBord. That means any reistance has to adapt.