Americans go big every time. We don’t fuck around with small defaults or minor recessions. We exacerbate a situation until it renders the entire globe at risk, creating great recessions, not just ordinary ones. When our banks blow up, everyone loses, especially old people in wheeled chairs.
Nowadays, our oil and gas experiments are blowing up in real time, once again leading the globe in failure.
How will this all end?
After the U.S., companies from emerging markets were the second-largest defaulters, accounting for 23 percent of the pool, which is a smaller share than last year, according to S&P data.
Plummeting oil prices and speculation about how the Federal Reserve’s plan to tighten monetary policy would affect corporate borrowing costs has made companies more vulnerable, Vazza wrote.
“The current crop of U.S. speculative-grade issuers appears fragile, and particularly susceptible to any sudden, or unanticipated shock,” she wrote.
It will most assuredly end like our 4th of July fireworks finales, with flair and extreme showmanship.
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Going to cash and finding cool Canadian places to visit!
the management at Abercrombie & Fitch will pull us through.
As long as it doesn’t end in financing another industry bailout – the hot debt potato, landing in the laps of all Americans who don’t agree to pay taxes so that gov can help industry first. Go Bernie.
Feel the Bern.