Why do you think such distributions generally precede a recession or depression? I don’t see the causality here as clearly as say a yield curve inversion. And follow-up, why is that bad instead of just expected?

People have more purchasing power and access to goods/services than ever before. Perhaps the relative ubiquity of smartphones is the most emblematic sign of this. Put another way, things are better than they’ve ever been and even in the last ten years, quality of life has improved in many ways. So is there really a problem?