Have you ever seen the structures that bees make? It's called a honeycomb. It's full of open spaces.
Whatever "it" is, it is (figuratively) eating away at the economy's foundation, creating holes so that the entire thing doesn't have much support.
Does that make any sense? If you Google honeycomb you might see a picture of one, and compare that to a solid foundation, and then you can picture what this metaphor is saying.
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