I should add ontop of this, I do see "zombie" companies of which there are many across all exchanges, propped up during a period of low interest rates getting screwed under this scenario. The debt holders will break them down for the resulting parts in such a scenario. And that's a good thing, these companies should have failed a long time ago.
I just question it happening to all companies, all at once, even ones without debt, under the chess system, or ones with debt but good cash flow producing assets that do real things for the economy.
