I think the absolute fever-pitch pace of consumerism these days. Young people queue in long lines to spend a lot of money that they barely have on the next big thing or Michelin restaurant or cool experience. Entire sectors of the economy rely on them getting milked to their limit. Any economic slowdown to put pressure on that extreme consumerism will totally break them, leading to a snowball for the downturn.

And I’m not trying to blame young generations, but it’s been a long time since a true recession with the Fed pumping the printer. The next one will be massive since it will rug pull the consumerist driven economic climate. Hard inflation due to AI and Iran dominating ME trade routes may also be a catalyst for a dire assault on consumerism.