Corporate bond sales worldwide topped $3 trillion for a second straight year, led by the highest-ever issuance of junk-rated debt, as borrowers locked in the lowest yields on record.
My Note –
But weren’t these the same people that for the last three years have blamed the American people who bought homes with criminal adjusting rate mortgages for the entire economic disaster? And, aren’t these same financial institutions and investors backing these junk bonds, the same ones that won’t make loans for anything or anyone in the real world with anything less than sterling credit, including business startups, small businesses, medium-sized businesses and individuals at risk of losing all the years of equity in their homes?
Wait, and let me get this straight – these same players that actually caused the majority of the problems in the economies and common economic crises around the world are now getting to leverage for junk bonds with interest rates at damn near zero? Hmmmm…. is that right? Is that what this story is describing that has been going on for a second year now in the “over $3 Trillion dollar range”?
Are they kidding? Is there any real currency in any of this system of business which uses the funds from sales coming in the front door to actually fund the business operations, and invest in the business growth? This is insane.
A quote from the bloomberg article –
“This was a once-in-a-career opportunity to refinance everything you possibly could,” said James Kochan, who oversees $175.6 billion of bonds in Menomonee Falls, Wisconsin, as chief fixed-income strategist at Wells Fargo Funds Management LLC.
My Note – this is just wrong. They are robbing Peter to pay Paul around and around and around in a never ending spiral which isn’t going to go up because it has no foundation of principles upon which it can be based – are they just all hoping to cheat each other and get out before anybody notices (again) or what?
And their only overriding question when being asked to fund anything , to buy into a new business offering, a government sponsored high speed transit rail line or a tech startup is “how will it be paid for?”
Who are they stealing from this time, if not you and me and our children and our children’s children along with our entire nation’s economic well-being . . . AGAIN.