‘Terrifies me’: Economists reveal what Trump may do in coming tech meltdown

Summary

Economists Paul Krugman, Jared Bernstein and Jason Furman say an AI bubble is possible — and how the Trump administration might respond to it. In a Nov. 12 conversation posted to Krugman’s Substack, Bernstein said it is probably a bubble. He cited more than $1 trillion in industry capital spending since 2024, about $6 trillion planned through 2030, and revenue he put just under $300 billion, well short of the $2 trillion to $3 trillion he says is needed to justify it. Furman said he couldn’t rule it out but doesn’t trust his own analysis, recalling that he called a Tesla bubble in 2017…

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