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AI Valuations and Oil Shocks: The Next Crisis Trigger

Velasco pairs geopolitical oil disruption with speculative AI asset bubbles to surface a real anxiety in elite economic circles: two distinct shock vectors—one rooted in physical scarcity, one in pure valuation detachment—colliding to destabilize markets without clear policy tools to manage either. The comparison to 1970s stagflation is structural warning, not nostalgia. Central banks facing simultaneous supply constraints and inflated asset prices have almost no good moves. The question is whether regulators monitor the AI funding environment as a systemic risk category rather than a sector trend.

Plentiful, high-paying jobs in the age of AI

Source: Noahpinion

The resurgence of comparative advantage economics as a defense against AI displacement anxiety signals a dangerous underestimation of how AI differs from previous technological shifts—it’s not just another factor of production that humans can out-compete in, but a general-purpose intelligence that may collapse the wage-earning value of human comparative advantage itself across multiple domains simultaneously. This rhetorical move reveals how threatened economists feel by genuine uncertainty, resorting to centuries-old frameworks precisely when the conditions those frameworks describe (humans having scarce, differentiated skills) are actively being disrupted.