The first correct, detailed prediction (in print) about the collapse of Fannie Mae and Freddie Mac as a result of the subprime crisis was made by Max Keiser, of Karmabanque, in (Zac Goldsmith's) The Ecologist magazine.

In 2004.

And he'd been talking about it before then.

People thought Max Keiser was a crank; instead he made detailed predictions based on his intuitions, limited insider feedback and cold hard facts. He couldn't say exactly when it would happen; he laid out some horsemen you could expect for the apocalypse and this was one.

The thing about a bubble is everything is fine until it isn't. And it's worth observing that key parts of what Zitron is discussing has been covered in the WSJ and FT.

It's all very well posting numbers to "disprove" him when what he is pointing out is that the AI hype train is delusional and the costs are buried.

But Zitron is directionally correct, I think, particularly with regards to Oracle, where things he has said have literally come true.

Frankly as a Brit I remain amused at how much Zitron winds Americans up just by being himself — sweary, vulgar, rude, catty. And since non-Brits can't read Brits, Luu has to engage in pretty immature character assassination about it.