economics commentary
Por sesgo · 1 takes across the edition
Noahpinion (Noah Smith) · United States · AI's $800bn 'circular financing' loop draws bubble and debt warnings
A measured counter: circular deals are common in capital-intensive booms and not inherently fraudulent, but warns they skew incentives and amplify downside, the case against pure panic.
“Should we worry about AI's circular deals? Often normal, but they can skew incentives.”