Credit crunch hits everything?
Maybe Bernie E. can lower his rates till things pickup. Haven't been to a F1 meeting for 20+ years, though that was the caotic parking that put me off, more than the entrance fee.
N.
No.
Here is how it happens:
1.US Trade deficit leaks money out of US. US liquidity is reduced.
2.US citizens must afford liquidity gap and consumerism with debt they can't pay.
3.Credit crunch comes when debts can't be collected. It becomes evident that buying power is smaller, so jobs are cut to adjust supply to demand.
4.Job cuts make the amount of poor bigger, reducing the amount of customers in the economy.
This is the endless cycle of recession and market shrinking.
Jobs are lost because demand lowered.
Demand is lowered because of unemployment.
Only those goods that are necessary for basic survival will remain.
Anything else, not needed by humans to survive, will suffer.
The world will become a planetary african country if the cycle is not stopped.
Formula 1 is not needed to survive.