I just read an article that, according to the traditional Kondratiev wave cycle, we should now be at a critical point transitioning from "autumn" to "winter," about to face a total reckoning of excessive debt and financialization. The next five years can be divided into four phases: 1. A False Dawn and a Bubble Burst (Second Half of 2026) The debt wall effect emerges, and corporate default rates rise. Meanwhile, the return on AI capital expenditure disappoints the market. 2. Geopolitical Shocks and Soaring Inflation (Full Year of 2027) Maritime blockades or extremely tense military standoffs are possible, disrupting the global semiconductor supply chain. Inflationary fears reach their peak, and silver may begin to outperform gold. 3. A Prolonged Stagflation Winter (2028-2029) The economy enters a painful bottoming-out period. Growth stagnates, prices remain high, and social unrest intensifies. Bitcoin may decouple from tech stocks during this phase, truly establishing its safe-haven status as digital gold. 4. The Budding of Spring (2030) After four years of debt clearing and inflation-driven dilution, balance sheets are gradually repaired, and a new international monetary order is beginning to take shape. The world begins to plan for the next dominant industry in the long cycle, which may be biotechnology, nuclear fusion, or advanced robotics.