"The social system of private property and limited government is the only system that tends to debarbarize all those who have the innate capacity to acquire personal culture."
~Ludwig von Mises
May 2, 2020
Barron's on corporate bond issuance in response to the coronavirus shutdowns
Covid-19 is blowing a gaping hole in the balance sheets of U.S. corporations. It's a big problem for stock investors, who, essentially, are seeing billions in value transferred from their portfolios to bondholders... Overall, S&P 500 companies have added about $210 billion in debt over the past few months. It's an incredible number.
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