The inverted yield curve. Declining leading indicators. Consumer credit stress. Two of the three have been flashing for months. History suggests a window of twelve to eighteen months.
American wealth inequality has returned to Gilded Age levels. The political system designed to address it has instead accelerated it. Here is what the data actually shows.
Americans provide approximately 36 billion hours of unpaid care annually. This labor underpins the entire formal economy. Its invisibility in economic accounting is a choice with political consequences.
For forty years, American cities and towns have known what to build and chosen not to build it. The shortage we are living with is not a mystery — it is a decision, made repeatedly, by specific people with specific interests.
The continent's population is set to double by 2050. Whether that becomes a dividend or a catastrophe depends on decisions being made right now.
Office vacancy rates in major US cities have hit 20-30 percent. The banks that financed the boom are beginning to reckon with losses. The signals suggest the worst is still ahead.
Streaming made music free and live performance the only real revenue source. The result has been spectacular for stadium artists and catastrophic for everyone else.