The Year In Bankruptcy: 2016

The watchword for 2016 in much of the world was "upheaval." Two unanticipated events dominated the political, business, and financial headlines of 2016, at least in Europe and the Americas: the Brexit referendum result and the election of Donald J .Trump as the 45th President of the United States. The refugee crisis, the commodities meltdown, Brazil's economic collapse, China's growing pains, Russian belligerency and alleged cyber-meddling in the U.S. election, the war on terrorism, and the beginning of the end of the bloody Syrian civil war seemed to pale by comparison.

Another Good Year for the U.S.

All things considered, 2016 was another good year for the U.S., with modest growth in the economy (approximately 2 percent); only a slight increase in the fiscal-year budget deficit ($587 billion); persistently low inflation (approximately 1.7 percent); a strong dollar (at a 14-year high compared to most major currencies); and, until it increased slightly at the end