Visa is just a front
Visa's stock showed negative growth for the first time since 2010 last year. Isn't that weird, considering all the money that was printed? No, because no one paid their credit cards; they thought they'd get free money forever. But now, no one can afford to pay the debt they racked up.
Remember when Visa bought a CryptoPunk last summer? They used customer debt (that was never going to be repaid) to do that. And now the Punk is worth 1/3rd of its original price and somewhat illiquid.
So what does Visa's portfolio even consist of besides that Punk? Over 80% of it is a company called Marqeta, another house of cards built on hundreds of other debt companies which own hundreds of other debt companies. Then the additional 20% of Visa's portfolio is more debt companies which own more debt companies. It's endless. And these smaller debt companies are collapsing, starting with the smallest ones.
What does this all mean? It means that without being bailed out, Visa will collapse. It needs more debt to survive, as it always has. The only difference is now we're in a global recession. Even if Visa survives, it's going to collapse worse one day, no matter how far into the future that is. No matter what, the smaller debt companies it owns are collapsing. The facts don't lie; Visa is just a front for thousands of smaller debt companies.