This 48Forty Story Shows Just How Bad The Real Economy Is

The real economy sucks and nothing captures that more completely than a recent headline about pallet management company 48Forty. The company underwent a debt for equity swap with private credit lenders after a private equity firm ran the company into the ground and hid the decay using payment-in-kind. Meanwhile the financial press keeps telling us the economy is great, and that our bad vibes are the problem. Support the Channel on Patreon:   / nobodyspecialfinance   Support the Channel by Buying Me a Coffee https://www.buymeacoffee.com/nobodysp... Support the Channel with Melon Merch by TeeSpring: https://nobody-special-finance.creato... Join My Discord for More Discussion, Q&A, and News:   / discord   Affiliate Links: Use this link to get $10 in free Bitcoin with Swan: https://www.swanbitcoin.com/NobodySpe... Chapters: 0:00 Intro 1:00 The Story 2:12 Debt For Equity Swap 3:31 Payment-In-Kind (PIK) 4:37 Private Lenders Losing More Than Half Their Money 5:18 Closing Plants and Killing Jobs 5:54 The US Has Been in Recession Since 2022 Recommended reading (Amazon Affiliate links): Rich Dad Poor Dad by Robert Kiyosaki: https://amzn.to/3rJvA7Y Atomic Habits by James Clear: https://amzn.to/423Odoy When Genius Failed by Roger Lowenstein: https://amzn.to/3zYpcBK The Great Taking, by David Rogers Webb (Free PDF): https://thegreattaking.com/ Why We Need The Fed (blank gag book) by Joe Brown: https://amzn.to/403amBS Follow Nobody Special on Twitter:   / jg_nuke   Follow Nobody Special on Spotify: https://open.spotify.com/show/4kUs0OD... #PrivateCredit #PrivateEquity #Recession