“ And no government loans when the cash reserves run out. The cost structure is out of whack.”
More than that.
A lot of the owners are highly leveraged, and their future expense plans have presumed continuous annual double digit revenue increases. Look at the absurd “stadium” (I don’t even know what to call the whole project) in LA, which will (if it survives) eventually be a theme park, football venue, high end shopping mall, TV set for enhanced anti-American propaganda, etc, etc,
The whole project is >$ 6 billion. An enormous act of hubris, to even conceive of it.
And watching it all collapse will be glorious.
——highly leveraged——
Bankers like to go for rides but fear driving themselves.
Looks like the bankers will be left by the desert or forest roadside. The banker’s ride willcome to an end