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Evoking Joseph Schumpeter the FT expects a wave of #business bankruptcies driven by high #interestrates, low economic growth & removal of #Covid-era business support measures...

As always this 'creative destruction' will involve investors losing money & #workers losing their jobs.

However, the former are usually pretty well cushioned having had the ability to spread their finical risks; employees have little such chance.

States' safety nets will be even more important in the next year or so!