>>20969305>This isn't a bad thing.I agree that it is not a bad thing (for terms of longterm economic health)
Zombie companies should die, and in the longterm, this will have a large net benefit
However, in the shortrun, this many companies being able to refinance their debt will result in a solvency crisis for banks all across the world
You cannot have trillions in loans defaulting (while at the same time consumer debt is defaulting) and not expect major financial stress
>2024 is set to be even higherand 2025 will be even higher..
>Unemployment is still pretty lowUnemployment swings like a pendulum, we have reached the point of the "upswing" where it will continue to spike up
Once you reach this point, it ends up going vertical very shortly
Look all throughout history of when unemployment spikes, same exact pattern
