The silent economic crash
Small businesses are dying by the thousands and no one is tracking the carnage
“Big companies are going bankrupt at a record pace, but that’s only part of the carnage. By some accounts, small businesses are disappearing by the thousands amid the Covid-19 pandemic, and the drag on the economy from these failures could be huge. This wave of silent failures goes uncounted in part because real-time data on small business is notoriously scarce, and because owners of small firms often have no debt, and thus no need for bankruptcy court.”
USAGOLD note: It will show up ultimately in the unemployment numbers and in the number of shuttered businesses you see driving any of the main business thoroughfares in America’s major cities …… Many of these business folk are among gold’s most loyal adherents.
Repost from 8-12-2020