Tenants’ collapsing one after the other without replacement has a pernicious impact on property prices.
Just can’t catch a break: Friday after hours, United disclosed it abandoned its junk-bond offering after investors balked. Shares fell.
Student loans: stalling repayments & hoping for loan forgiveness.
Tens of millions of people, many at the lower end of the income scale, lost their jobs. But stocks surge thanks to the Fed’s helicopter money for Wall Street & asset holders.
Loans to “SPVs” declined to lowest since March 25.
This hoped-for fake “profitability” isn’t profitability, but “Adjusted EBITDA,” Uber’s own homemade creature. Lyft produced a similar horror show yesterday.
“Insured unemployment rate” spikes to 15.5%, is already over 20% in some states, 25% in Vermont.
I’d never imagined I’d ever see this sort of spike, though in recent years I added an upward arrow with “Debt out the wazoo” to my charts, not realizing just how factually accurate this technical term would become.
Nobody knew what would trigger the next financial crisis, but just about everyone knew it would involve the record pile of corporate debt. And so it happened. Now the Fed fixed it (transcript of my podcast).
It will likely take “several years before the output lost due to the virus outbreak is fully regained.”