https://zgm.org/tags/macro/ Recent content in macro on ZGM.org Hugo -- gohugo.io en-us Wed, 12 Aug 2026 00:00:00 +0000 https://zgm.org/singapores-gdp-upgrade-and-coreweaves-104-billion-backlog-the-ai-boom-has-reached-the-lagging-indicators/ Wed, 12 Aug 2026 00:00:00 +0000 https://zgm.org/singapores-gdp-upgrade-and-coreweaves-104-billion-backlog-the-ai-boom-has-reached-the-lagging-indicators/ Most arguments about the AI cycle get made with leading indicators, and leading indicators are the ones sentiment can fake. Funding rounds price expectations. Model launches announce intent. Backlogs, national accounts, employment statistics and power procurement work differently. They move only after the money has been spent and the contracts have been signed, which makes them the strongest available evidence about where the cycle actually stands. On 11 August the lagging indicators moved, and they moved up.