> we'll bail out them out

If it’s after the midterms, I’m doubtful. The AI leaders—apart from Dario—have gone particularly partisan. We also have a lot more post-crisis tooling that lets us wipe equity even when bailing out. See, for example, the ‘23 bank failures.

People are already sour on the economy. They are going to be in a whole mood if we get a real, serious recession.