The old saying rings ever more true with this article. If I owe the bank $50, it’s my problem. If I owe the bank (or private debt lender who did not do enough due diligence) $50B it’s potentially the first domino in a global economic collapse impacting most people on the planet.
Dam cheap auto parts, didn’t have they on my bingo card for the next recession.
Ekaros•3mo ago
I have heard comments about private equity being so desperate of finding places to invest that they are throwing good money after bad money. Or even doing stuff like not getting paid on debt anymore. If this is true, it is just an other wobbly card in already wobbly looking house of cards...
Greed is once again destroying it all. And this time it is bigger than ever.
11101010001100•3mo ago
Gotta love when the journalist finds an expert, asks the question, and the expert goes: "My guess..."
grues-dinner•3mo ago
To be fair, economists can only guess in this situation. If you want them to be confident why they were wrong today about what happened yesterday, you must wait for tomorrow.
soared•3mo ago
Dam cheap auto parts, didn’t have they on my bingo card for the next recession.
Ekaros•3mo ago
Greed is once again destroying it all. And this time it is bigger than ever.