A curious phenomenon.
Part of the problem is cultural: big banks in the UK don’t like lending to small businesses, especially not at 1.5%.
Miserable, crowded living conditions of Europe’s foreign farm workers put them at much greater risk. And they’re staying away.
And construction companies “aren’t expecting a swift recovery.”
The situation is very fluid.
Never before have so many property funds shut the doors on so many property investors.
Madrid area hospitals were forced into wartime-triage, denying care to the elderly in order to give the young a better chance.
During the last crisis, Madrid ramped up the tax burden on the self-employed to historic highs while wasting vast sums on corporations and banks. Same thing on an even bigger scale is now in the offing.
Triggered by the belated realization of the risks in mutual funds that offer daily liquidity but invest in illiquid assets.
The ECB promises to “monitor markets closely.” Then it came out with a new bond buying binge.