Economic imbalances in the United States are no longer appearing as scattered signals, but have become an integrated system of accumulated risks. From an unsustainable fiscal path to excessive lending in the private sector and the commercial real estate market, to a stock market trading at historically inflated levels, and an economy that has become overly dependent on artificial intelligence investments as the main driver of growth—all of this paints a picture of an economy that appears more fragile than superficial numbers suggest. This accumulation makes the U.S. economy highly sensitive to any shocks in energy or food prices, especially if they come accompanied by a toxic mix of rising inflation and slowing growth.
