Hele livet har man fått høre at man ikke skal leve over evne, at man bør spare og være edruelig.
Sentralbankene har skutt disse prinsippene i fillebiter med sin uansvarlige pengepolitikk. Dersom man har gjeld man ikke klarer å betjene så havner man på luksusfellen eller i skifteretten. Evergrande er et eksempel på dette i en mye større skala, og det ligger en rekke andre eksempler og ulmer under overflaten…
«Almost 200 corporations have joined the ranks of so-called zombie firms since the onset of the pandemic, according to a Bloomberg analysis of financial data from 3,000 of the country’s largest publicly traded companies. In fact, zombies now account for nearly 20 percent of those firms. Even more stark, they’ve added almost $1 trillion of debt to their balance sheets in the span, bringing total obligations to $1.36 trillion. That’s more than double the roughly $500 billion zombie companies owed at the peak of the financial crisis.
The consequences for America’s economic recovery are profound. The Federal Reserve’s effort to stave off a rash of bankruptcies by purchasing corporate bonds might very well have prevented an economic depression. But in helping hundreds of ailing companies gain virtually unfettered access to credit markets, policymakers may inadvertently have directed the flow of capital to unproductive firms, depressing employment and growth for years to come.”