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Politics : View from the Center and Left

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From: S. maltophilia	8/22/2025 12:20:23 PM
	2 Recommendations Recommended By kidl Sam Read Replies (2) of 540683

....So the electricity crisis is set to get worse. And it will matter a lot. Households spend a substantial share of their budgets on electricity, but the overall impact of electricity prices goes well beyond your utility bills: electricity is an important cost of doing business, and an increase in that cost will be passed on to consumers. By my estimate, overall spending on electricity — both direct spending by consumers and spending by businesses that ultimately gets passed on to consumers — is about 2 percent of GDP. So large electricity price increases could have a significant effect on the cost of living. Rising electricity costs will also lead businesses to produce and invest less. In particular, as I wrote the other day, energy shortages could bring the boom in AI spending to a screeching halt — and that spending is currently the only thing keeping the U.S. economy above stall speed, growth so slow that economic weakness becomes self-reinforcing. Many people, myself included, have drawn parallels between the current AI frenzy and the telecoms boom and bust of the late 1990s — an alarming parallel, because the.... paulkrugman.substack.com

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