Companies are typically expected to innovate and restructure once they cannot service their debts or go out of business. However, zombies stagger along. Economists worry these firms will siphon resources from healthy parts of the economy. Moreover, we do not know if zombie firms can be strong enough to survive future shocks from rising interest rates.

The children are hungry! They are eating erasers because they cannot afford to buy lunch! Knowing that people outside the UK are worried about the cost of living crisis in the ‘once mighty empire’ sure feels odd. Because I was on the other end, commenting on troubles in the west from Indonesia.