Brian Longobardi

Oftentimes, the following narrative plays out: a journalist is reporting on how local neighbours or homeowner associations are objecting to the construction of a large-scale regeneration project by exercising their democratic rights through either the planning or judicial system. In the comment section, you would then find a litany of user posts accusing the objectors to being serial ‘NIMBYs’ and of blocking progress on desperately needed developments.

While recent media reports suggests that this hyper-fuelled speculation is likely leading to a market bubble, the only sector of the US economy that observed growth in the last quarter is from AI. Without the American AI companies turbo-charging new growth, the entire US economy would be in recession, and in fact, most other sectors of the American economy are already in recession.