Stock Market Bubbles, AI Resistant Jobs, Unedited Elon Musk, Bangkok for Beginners, Mileslink

Another TBB post featuring the most eclectic links around the web such as stock market bubbles, AI resistant jobs, unedited Elon Musk interview, Bangkok for Beginners, Mileslink, Social Security program, AI boom and AI hedge fund blowups, scam centers plague, best documentaries, Art Atlas map, Vietnam scams, the best photography and Thailand links and of course always all of the most important developments in the crazy world of frequent flyer miles and points at the lower half of the post. And much more. Enjoy the weekend.

 

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This blog started way back in 2012 focusing on my crazy hobby addiction of traveling with frequent flyer miles, hotel and bank points. It has since evolved to curated posts featuring the best web content along with my commentary.

 

BLOG HOUSEKEEPING

This is truly a one man labor of love operation, enjoy it while it lasts.

I rearranged two blog sections and split them up, now listed as AI/TECH and SCAMS/CRYPTO. I am thinking to retire crypto related stories/links. Because, does anyone care anymore? We shall see, any feedback is appreciated.

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QUOTE OF THE WEEK

 

“What we achieve inwardly will change outer reality” – Plutarch

 

MUST READ GEMS 

For your deep reading over the weekend I recommend:

Why China got rich and India didn’t

 

 

PERSONAL FINANCE

As we are again at market highs, maybe this is a good read now: America is Great at Creating Stock Market Bubbles — and Shrugging Them OffOne day the bust will be the big one, but for now the pullback in AI-related stocks has been almost completely offset by gains elsewhere. Where we are these days:

We are heading into a danger area now, thanks to the money being poured into artificial intelligence. Estimates of $7 trillion to be spent on data centers in the next four years are enough to seriously damage the economy if productivity gains aren’t big enough to justify it. And the increasing use of debt financing means that if AI more broadly turns out to be a bubble, it could hit the financial system, too. That isn’t something the broader market could ignore.

Great article about all things Social Security. I have been asked before if I think this government benefit will be around in the future. And my response is that it certainly will. I think older people (say over age 50) should be fine but younger people will probably not get as juicy of a benefit. And we all know some painful adjustments will eventually need to be made at some point. And the longer we kick the can down the road these adjustments will get more painful. A few more things from my experience being a financial advisor for over 30 years. I generally recommend people wait until age 70 to claim their Social Security Benefits to lock up the largest inflation adjusted cash inflow for the rest of their lives. Unless they clearly need the money to live on and/or they have a grim medical diagnosis that comes with a limited life expectancy. That’s it. Of course everyone is different but in general I believe this is a good starting point/rule of thumb.

Morgan Housel had started a YouTube channel a while ago. And then stopped posting videos. But he is back and his videos are great and I highly recommend subscribing.

 

 

AI/TECH

Perfect headline? The AI Boom Is Transforming the American Economy Beyond Recognition.

Very deep dive on Larry Ellison: Larry Ellison Bet It All on the A.I. Boom. Will He Be the Face of the A.I. Bubble? Inside the 81-year-old billionaire’s risky, debt-fueled scramble to transform his data empire into an A.I. juggernaut. Is this whole tech AI field dominated by assholes or what?

So this young Leopold hedge fund kid blew up his fund last week. Because, you know, hedging (risk) was non existent. He wrote some AI manifesto a few years ago and then was given lots of money by rich dudes and he went ALL IN on AI stocks. AND leveraged up everything 3 to 5 times! And then, of course, the stocks started going south and he kept selling until he had to sell all public stocks to another hedge fund dude (Citadel’s Ken Griffin) to stop from going completely bankrupt. And all this happened while he was getting married. To the Chief of Staff of Anthropic’s CEO, how conveeeeenient. Anyway, he goes on X and posts this letter to his investors smh.

“Dear Partners, we let you down this month” [ LOL, yeah, no shit!]

“I will make it my mission to ensure that we learn the necessary lessons from this experience”. [Okay dude, sure., it’s all about winning LOL]

While we could say much about how unusual the month was, we hold ourselves to a higher standard, irrespective of market conditions…We embrace volatility. But it should never jeopardize the fund.” [This is some very high level BS wow. I am screaming WTF inside!]

Update: Apparently, he somehow got enough big shots to again give him $400 million to start a new venture capital fund smh.

Two visuals for you: First, the AI resistant jobs, ranked (found HERE). I am surprised to see Senior Software Engineer ranked so high.

Bar chart ranking the top 20 in-demand U.S. jobs by AI resilience score, led by registered nurses (82.2), home health aides (72.7), and elementary school teachers (70.0), with wholesale and manufacturing sales representatives ranking lowest (26.1). Visualization created by Julie R. Peasley using JobZone Risk and U.S. Bureau of Labor Statistics data.

And blown away every day with the loads of billions spent on AI. Mind you, still being mostly paid by profits. But we now also have debt going way up to assist in this era (found HERE) and we all know leveraging can lead to, cough, blowups…at some point:

 

SCAMS/CRYPTO

You know we live in crazy times when we see headlines like this: The Billionaire Blowing the Whistle on Trump’s Crypto ShopWorld Liberty put $800 million in the president’s pocket. Justin Sun is alleging fraud. It is Justin Sun everybody, that dude who paid millions for a banana only to eat it. So, it could not happen to a nicer guy lol. Can you imagine Biden or Obama making billions from a crypto shop? Me neither smh.

The Economist interviewed Elon Musk. And posted the entire interview online UNEDITED. I kept shaking my head with this guy. Do you remember the movie Natural Born Killers? If someone made Natural Born Assholes it would be about this guy. I am going to stop here before my blood pressure explodes. Because the non stop bullshit coming out of this guy is abundant (pun intended)…

Amazing investigative journalism here in this article: The mayor of Scamtown. Long read, you have been warned. These scam centers are a cancer that needs to be eradicated. So disgusted reading this what these scum are doing…

 

 

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3 Comments

  1. What would be your plans for accommodation if you are staying in Bangkok for extended periods? Have you toured any condos for 3 month periods and what are the costs like? What we like about Thailand is the vibrancy, it feels like everyone is trying to make something happen, they hustle but not in a scammy way. I think part of it might be down to a younger population who are eager to perhaps have a better life than their parents did. BTW Andaz Pattaya does a good beef massaman.

  2. Wow! Tons of reading this week! Thanks! What Vicky says above is how I felt when I visited Saigon and, to a slightly lesser extent, Hanoi back a few years. I have been trying to plan some travel but it just isn’t happening. I might be aging out of it or might have to plan shorter trips or even do tours. (I hate tours) Might even be time to just stay put and raise some chickens as I have wanted to do for many years.

    Please keep the Scams/Crypto stuff as that section usually has stuff I like to read about. Though to be honest I read through pretty much every section.

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