In the US alone, it impacts nearly $40 trillion — with consequences for the real economy.
In the US alone, it impacts nearly $40 trillion. And there are consequences for the real economy.
The concentration of corporate debt: The top 48.
Surging prices are a demand killer, but real estate industry laments the medicine didn’t work.
Murk everywhere. There isn’t even an agreement what “leveraged loans” are. No, banks are not off the hook. That was wrong too. They hold 57% of these instruments, the Bank of England found.
In 2013, I called Goldman Sachs a “snake-oil salesman” for underwriting a $1 billion J.C. Penney stock offering. Investors got wiped out. Now the longer-dated bonds, including a 100-year bond, have collapsed.
Kudos to the private equity firm. These things don’t happen overnight for companies. They happen overnight only for investors.
$30 trillion of assets globally are held by similar open-ended funds.
Oh, it’s here alright. But we’re a little squeamish about calling it out.
NIRP is systematically rotting out basic brain functionality.