US Retail Collapse and China Credit Deflation Fail to Interrupt Margarita Hour
Wall Street analysts are beside themselves after a brutal July US retail sales drop and historic contractions in Chinese yuan bank lending point toward an impending economic apocalypse. Meanwhile, in Todos Santos, British retiree Nigel has successfully negotiated a ten-peso discount on a hammock and considers macroeconomic deflation to be a personal victory over late-stage capitalism. While central banks scramble to adjust interest rate expectations, the most pressing financial crisis facing the local expat community is running out of small bills to pay the guy who watches the surfboards.