Odd, I know. One class of wizards observes another. “Out of control.”
A ripple of anxiety ran through Wall Street on Sept. 9 when Jay Clayton, chairman of the SEC, warned that corporate debt now stands at $11 trillion, half the annual gross domestic product of the United States. “Should we be cognizant of the growth in corporate debt, who holds that debt and the potential ramifications for our markets and our economy?” Clayton asked. “Of course we should.”
His warning was timely for Hollywood, coming just a couple of weeks before Endeavor Group Holdings CEO Ari Emanuel pulled the plug Sept. 26 on an initial public offering that investors had regarded warily because of his company’s staggering debt of $4.6 billion.
Yeah, poor, satanic Hellywood… Maybe the one faction should have consulted with the other? Just as the government debt dooms the state, the corporate debt dooms those artificial government-created entities. When they all fall, not much will be left standing. It’s like when Apprentice Mickey unleashed heck, but with no “good” wizard standing by to fix things – and real, not a cartoon. Speaking of, hopefully, this will bring the end of Devil Mouse, Inc.