The western world’s economy is shrinking. And for an economy that depends on continued growth, this is a very bad thing.
It’s like a family that keeps going more and more into debt, but it’s ok because dad keeps getting raises to match. But dad just got laid off and had to get a minimum wage job at McDonalds. Meanwhile, the pay doesn’t even cover the debt service.
This will leave a mark.
If you look way down at the bottom of the filing Carnival mentions trying to get a "covenant extension" which means more time to pay back their borrowed Billions.
If Carnival can't get the extension, they have to pay it back on time, and that could cause a ...??? You know what I mean. -Tom