Cramer Says There’s No AI Bubble: We’re All Doomed
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CNBC’s ‘Mad Money’ host Jim Cramer says we shouldn’t be worried about the AI bubble bursting, which means we should probably all be worried about the AI bubble bursting.
Whilst most experts are drawing parallels between what’s happening now and the dot com boom of the 00s, Jim Cramer is drawing with crayons.
Speaking on Monday’s show, JC said, “Speaking as an internet pioneer, what I see now is the polar opposite of what we were seeing 25 years ago. When the dotcoms made bad investments, nearly all of them went under… Worst case scenario, if Google and Amazon and Meta make bad investments and take big losses, that’s just another day at the office.”
Ok, well, as “an internet pioneer,” let’s take a look at how you called it in February 2000, just before the dot com popped, shall we?
Cramer said that internet-related companies “are the only ones worth owning right now… the only ones that are going higher consistently in good days and bad.”
…nice one, Jim. I’ll definitely trust you this time around, too. As the old saying goes, “Trust Cramer once, shame on me, trust him twice, shame on CNBC.”
I don’t know about you guys, but I’m going all in on my Inverse Cramer portfolio.
The Cramer That Cried Wolf
As Reddit user PensiveinNJ commented, “Oh god it’s worse than we thought. The grim reaper of finance has weighed in, the collapse of the global financial system is imminent.” (No, I’m not above quoting Reddit comments to pad out an article.)
It could be argued that AI is currently the only thing keeping the lights on in the US right now, the sector has contributed more to the economy this year than all consumer spending combined. OpenAI just reaching a $500 billion share price, Meta, X, Google and even Chipotle are going all in on the tech. Nvidia has that whole AI chip thing they’re doing AND they put $100 billion into their rival corp, OpenAI, which is definitely not a ponsy scheme.
Sounding familiar yet?
Shit.
Looks like I’m going to have to pull the plug on my AI girlfriend. I’m so sorry Monquique Sexhips III, you were a gentle lover and a good friend. But it’s time to say goodbye. No, please, no, don’t look at me like that, don’t make me harder than I have to be…
*gunshots*
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