Homer Simpson once proposed a toast “to alcohol, cause of and solution to all of life’s problems”. For global companies that have drunk deep of debt, his line captures a nasty irony. The pandemic poses especially big economic hazards to companies with highly leveraged balance sheets, a group that now includes much of the corporate world. Yet the only viable short-term solution is to borrow more, to survive until the crisis passes. The result: companies will hit the next crisis with even more precarious debt piles. The cycle needs breaking.
霍默•辛普森(Homer Simpson)曾提议为“酒精，生活中所有问题的起因和解决方法”干杯。对于manbetx app苹果 各地“狂饮”债务的公司来说，他的话有一种浓浓的讽刺意味。新冠疫情对拥有高杠杆资产负债表的公司构成了特别大的manbetx20客户端下载 风险——现在许多企业都有着很高的杠杆率。然而，唯一可行的短期解决方案是借入更多资金，直到危机过去。结果是：当下一次危机来临时，企业将会承受着更加危险的债务负担。这个循环需要打破。