AI-related stocks drove virtually all of the S&P 500 returns in 2023 – is AI hype just a bubble?

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by Ok_Significance_4008

I remember this set up back in 1999 during the last stages of the dot.com bubble. The sequence of money flow went from hardware companies, to retail killers (remember Pets.com), to closed pay to play networks (remember AOL.com), niche specific products, and finally the everything dot.com panacea for all your online sales pitches.

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This is the last stage of the hustle before the ” The Emperors New Clothe’s” fable by Hans Christian Anderson comes around again.

You’ve had 11 straight interest rate hikes, 450,000 tech lay offs, long dated bonds on balance sheet world wide approaching $3 trillion in paper loses, a national debt on it way to $40 trillion, and the US Dollar in the end stages of its Reserve Currency status….all happening in the last year.

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All these issues are going to be solved by AI. Yep. Yes, sir.

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