Most importantly, we have our health (touch wood) and each other.
Local governments end up buying dying malls to keep them from becoming dead zones.
Oops, the rot runs even deeper than Muddy Waters could have imagined.
Just how much lower can they go? To Zero. And the ECB’s negative interest rates are driving them closer to it.
“If the situation of generalized panic continues, thousands of businesses, especially small ones, will first enter a liquidity crisis, then close their doors.”
“Even more damning than our initial report”: Carson Block of Muddy Waters.
The bushfires were just the latest problem: The slump started well before them and also affects states unaffected by them.
At first the protests and now the coronavirus collide with the World’s Most Expensive Property Market.
These days, markets forgive and forget anything except the suspension of share buybacks. Shares dive.
Now attention is switching to former President of Mexico Peña Nieto.