Over the last two centuries in the US, macroeconomic rhythms and political processes have been closely cointegrated. Each K-wave has been composed of three Kuznets cycles, each Kuznets cycle has been marked by a particular type of growth, and each transition between Kuznets cycles has been marked by both political and economic instability. One type of instability coincides with K-troughs and a second type with K-peaks, and these in turn with warfare. Exactly on time, we are currently in a K-trough, with all of its economic and political instabilities, and are engaged in a new trough war, the War on Terror.
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