Why the AI Crash Could be Worse than 2008

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There's a growing consensus that AI is a bubble, and now there are fears that, if it bursts, the economic impact could be worse than the 2008 crash. So in this video, we'll take a look at this bubble and just how bad the ensuing crash could be.

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Sources:

Lots of this video revolves around a thesis and framework (re: the Federal Reserve) outlined by Lev Menand in his brilliant book The Fed Unbound, which we would really recommend.

Stockmarket wealth
https://www.economist.com/finance-and-economics/2025/09/07/what-if-the-ai-stockmarket-blows-up 

OpenAI CIO comments
https://futurism.com/artificial-intelligence/openai-financial-support-government 

Data on private credit market
https://www.bny.com/corporate/global/en/insights/rise-of-private-credit.html 
https://www.morganstanley.com/ideas/private-credit-outlook-considerations