It is not only low income families who are struggling at the moment — billionaires have their problems too.
The Bakrie family in Indonesia has a track record of buying companies, mortgaging them and using the new capital to buy more businesses. Its debt now stands at more than $3bn and the family has interests in mining company, palm oil plantations, and a telecoms company.
Unfortunately the global slowdown means that cashflow is down and the family is having problems keeping up its payments. So it is looking to sell assets. But of course with the slowdown, free cash flow and hence valuations are low, and there are few buyers looking to take on new risks. But whoever does will likely be getting a rock bottom price.