ibtimes.co.uk

Michael Burry Calls Elon Musk-Nvidia AI Deal 'Fugazi' — Warns Retirees of Hidden Risks [https://www.ibtimes.co.uk/michael-burry-ai-bubble-warning-1800028](https://www.ibtimes.co.uk/michael-burry-ai-bubble-warning-1800028) Burry warned in a recent post on Substack that leading companies like Nvidia and Elon Musk's xAI are leveraging GPU-backed securities deal structures to secure funding to power their growing AI data centres while putting the retirement funds of Americans at risk. Burry detailed in his post the exact pipeline that moves retiree savings into the running Musk's AI data centres without them knowing about it, describing such deals as 'fugazi', his word for fake.

Social Security COLA 2027 Prediction Hits Highest Forecast Since 2022 — What It Means for Retirees [https://www.ibtimes.co.uk/social-security-cola-2027-increase-inflation-1796565](https://www.ibtimes.co.uk/social-security-cola-2027-increase-inflation-1796565) The Social Security Administration (SSA) could issue a 4.2% cost-of-living adjustment for 2027 as the broad consumer price index in April rose 3.8% over the past 12 months, which is the highest jump since May 2023, and higher than the 3.3% in March. Furthermore, the US Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is used to calculate Social Security COLA, rose 3.9% over the past 12 months, according to April data. However, Social Security benefits have lost 13.7% of purchasing power since 2016, the Senior Citizens League estimated, and would require a 15.7% boost, or $295.85 per month, for the average beneficiary to catch up.