00:00You have this enormous boom in IT and AI, you have this enormous boom in, you know, data centers, you
00:07have massive investment going into artificial intelligence, you have a speculative bubble, basically, in artificial intelligence.
00:15So at the moment, the speculative bubble is winning, you know, but I think the long run prognostication for economic
00:24growth is exactly what I said before, that you can't, the expected productivity benefits from artificial intelligence, which is what
00:32you really care about, not whatever is happening to the stock market today, are not large enough to justify the
00:40asset prices at the moment.
00:41So there's going to be a shakeout of the market with all sorts of consequences for the economy.
00:48And so I still think my view is the prognostication for economic growth is bad, but there's a lot of
00:54things going on at the moment.
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