Modern Tontines Macroeconomic Research Copyright 2026 Russ Oxley Original text, charts and research outputs by Russ Oxley are licensed under Creative Commons Attribution 4.0 International (CC BY 4.0). Third-party inputs remain subject to their publishers’ terms; this licence does not relicense third-party documents or databases. Licence: https://creativecommons.org/licenses/by/4.0/ Legal code: https://creativecommons.org/licenses/by/4.0/legalcode.en Attribution: Russ Oxley, Modern Tontines Macroeconomic Research, September 2026 checkpoint, https://moderntontinesmacro.netlify.app/. Include the licence link and indicate any changes. The licence covers original author contributions only. Source inventories identify third-party inputs and providers; their terms remain applicable.