AI Bubble Threatens Pensions

The rapid flow of private and institutional capital into AI, combined with opaque financing (off‑balance loans, complex derivatives, interfirm trades), creates a plausible scenario where pension funds and insurers are exposed to losses if AI revenues don’t materialize. That exposure could force government intervention or rescues that create moral hazard and reshape industrial policy. — If true, this reframes AI from a purely technology/regulation issue to a fiscal and political one — forcing debates about pension protection, financial transparency, and who bears the downside of technology bets.