The Red Ponzi Leads The Way: First The Virus, Next The Shutdown, Then The Defaults

As Covid-19 works its way through the rest of Asia, Europe and the Americas — forcing countries into lockdown, driving up unemployment and pummeling small-business owners — analysts say it’s only a matter of time before stretched households globally start to default on their loans.  The early indicators from China aren’t pretty. Overdue credit-card debt swelled last month by about 50% from a year earlier, according to executives at two banks who asked not to be named discussing internal figures.

 

 

 

 

 

https://economictimes.indiatimes.com/news/international/business/a-global-consumer-default-wave-is-just-getting-started-in-china/articleshow/74871979.cms?from=mdr