Let the Cruise Lines Sink

A cruise ship sits at an empty dock in La Jolla, Calif., amid the global COVID-19 coronavirus outbreak, March 16, 2020. (Mike Blake/Reuters)
They are over-indebted, hire too few Americans, and perform no vital service.

NRPLUS MEMBER ARTICLE A s you walk through empty aisles in the grocery store worried that your hours might be cut back at work and wondering how you’ll manage to keep paying your bills, it might seem preposterous to think that anyone in power would be worried whether you’ll be able to still go on a cruise. Luckily, the political class is on it. On Thursday, March 12, Wells Fargo recommended that investors buy stock in Carnival Cruise Lines, the embattled company facing a potential existential crisis due to the coronavirus outbreak. Carnival is “almost ‘too big to fail,’” argued Wells Fargo, and “there

Alexander Holt is an independent consultant focusing on finance, economics, and higher education. He lives in Washington, D.C.

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