this post was submitted on 25 Oct 2025
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AI investment the only thing keeping the US out of recession (www.theregister.com)
submitted 1 month ago by Alphane_Moon@lemmy.world to c/hardware@lemmy.world
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[–] Alphane_Moon@lemmy.world 7 points 1 month ago* (last edited 1 month ago)

Jason Furman, Economist and former Deputy Director of the US National Economic Council, estimated in a New York Times podcast that 92 percent of the economic demand in the first two quarters of this year came from information processing equipment and software.

"Ultimately, what we're really hoping for is that AI shows up on the supply side of the economy, actually helping us do more with less," he said. Some of that is happening, he claimed, "but there hasn't been anything particularly special about productivity growth to date."

I am assuming that the 92% refers to "net new" economic demand, not total.

This is damning for AI hucksters and conmen. The worse thing is that since many of them are based in the US, not a single one will be prosecuted (how many financial fraud conmen were prosecuted under Obama?)