• dan@upvote.au
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    16 hours ago

    I think people don’t realise that if AI fails, it’s pretty much guaranteed to collapse the US economy.

    • SaharaMaleikuhm@feddit.org
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      15 hours ago

      Don’t you worry it’s gonna have a global impact againjudt like it did in 08. Imagine losing your job in Italy for instance cause some bankers got ultra rich in the US. What a dumb fucking world.

      • unphazed@lemmy.world
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        9 hours ago

        Ha! Jokes on you. My state is so poor it was the least affected by the 2008 crisis. Wait, that still sucks, only more…

      • dan@upvote.au
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        13 hours ago

        I don’t think 2008 really had a significant effect in Australia. I don’t remember hearing much about it.

        • Cypher@aussie.zone
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          6 hours ago

          It had a huge impact though stimulus packages that Labor created under Kevin Rudd meant that Australia had the best recovery out of all the OECD nations.

          • tal@lemmy.today
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            4 hours ago

            Labor

            I would have bet that the Australian English spelling would be like the British English spelling, since Australian English tends towards the British English end of the spectrum rather than the American English. Especially since names tend to persist, and it’s probably been around for a while.

            goes to check Wikipedia to see whether it was renamed

            Interesting. Not exactly. The article uses “labour”, and has a section dealing specifically with this:

            https://en.wikipedia.org/wiki/Australian_Labor_Party

            In standard Australian English, the word labour is spelt with a u. However, the political party uses the spelling Labor, without a u. There was originally no standardised spelling of the party’s name, with Labor and Labour both in common usage. According to Ross McMullin, who wrote an official history of the Labor Party, the title page of the proceedings of the Federal Conference used the spelling “Labor” in 1902, “Labour” in 1905 and 1908, and then “Labor” from 1912 onwards.[11] In 1908, James Catts put forward a motion at the Federal Conference that “the name of the party be the Australian Labour Party”, which was carried by 22 votes to 2. A separate motion recommending state branches adopt the name was defeated. There was no uniformity of party names until 1918 when the Federal party resolved that state branches should adopt the name “Australian Labor Party”, now spelt without a u. Each state branch had previously used a different name, due to their different origins.[12][a]

            Although the ALP officially adopted the spelling without a u, it took decades for the official spelling to achieve widespread acceptance.[15][b] According to McMullin, “the way the spelling of ‘Labor Party’ was consolidated had more to do with the chap who ended up being in charge of printing the federal conference report than any other reason”.[19] Some sources have attributed the official choice of Labor to influence from King O’Malley, who was born in the United States and was reputedly an advocate of English-language spelling reform; the spelling without a u is the standard form in American English.[20][21]

            Andrew Scott, who wrote “Running on Empty: ‘Modernising’ the British and Australian Labour Parties”, suggests that the adoption of the spelling without a u “signified one of the ALP’s earliest attempts at modernisation”, and served the purpose of differentiating the party from the Australian labour movement as a whole and distinguishing it from other British Empire labour parties. The decision to include the word “Australian” in the party’s name, rather than just “Labour Party” as in the United Kingdom, Scott attributes to “the greater importance of nationalism for the founders of the colonial parties”.[22]

        • hitmyspot@aussie.zone
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          11 hours ago

          A bunch of my friends were made redundant. Some had visas dependent on their work, employer sponsored and had to leave Australia. Heck, we call it the gfc as an acronym. We just didn’t have a general recession.

        • juanito_the_great@sh.itjust.works
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          3 hours ago

          It destroyed the budget of scientific research in Spain. I was a Spanish researcher then. There was a point when universities couldn’t pay us the grant that the government had already assigned to us. Some of my peers missed rent. I heard stories of Spanish PhD. students stranded all over the world. I quit research (my dream job at the time) because of this crisis and never came back to it.

          Happy you felt nothing in your happy little bubble.

        • ranzispa@mander.xyz
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          13 hours ago

          I know plenty people who are currently homeless in Europe originally lost their job following the 2008 crash.

    • Ulrich@feddit.org
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      13 hours ago

      It’s not if but when. Hopefully sooner rather than later. And you’re a fool if you think the implications won’t be felt around the world. Just like they were when Americans rammed the housing market into the ground. We live in a global economy.

    • OwOarchist@pawb.social
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      13 hours ago

      Yep, either way, your job is toast.

      AI succeeds: AI takes your job.

      AI fails: Economy crashes and you lose your job due to the crash.

    • hansolo@lemmy.today
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      10 hours ago

      Meh, not really a full collapse. Just like 75% of it and a huuuuge recession. Or maybe a “Tiny Depression”? Basically, 10 years to recover. Which is where we’re going anyway, with or without AI.

      • relativestranger@feddit.nl
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        9 hours ago

        10 years on top of the generations to recover from economic and social policy being shat out by a deranged geriatric.