Can Democracy Survive the Next Financial Crash?

The bailout clock is ticking. In September, Oracle invoked “force majeure” to delay paying debt on a data center, which led to a drop in the corporation’s stock price. This month, OpenAI significantly cut its revenue projections; CoreWeave, a heavily leveraged data-center company, saw its share price plunge; and investors began racing to buy credit-default swaps to protect their portfolios. These are all signs of declining investor confidence. The risk that the heavily debt-fueled and interconne

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