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Olduvai III: Catacylsm
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charles hugh smith-The Financialized-Oil Dominoes Are Toppling

charles hugh smith-The Financialized-Oil Dominoes Are Toppling. The drop in oil revenues has triggered a self-reinforcing feedback dynamic. Oil is not just something that is refined into fuel–it is capital, collateral, debt and risk. In other words, it is intrinsically financial. As I noted in The Oil-Drenched Black Swan, Part 2: The Financialization of Oil, oil has been […]

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oftwominds-Charles Hugh Smith: The Oil-Drenched Black Swan, Part 2: The Financialization of Oil

oftwominds-Charles Hugh Smith: The Oil-Drenched Black Swan, Part 2: The Financialization of Oil. All the analysts chortling over the “equivalent of a tax break” for consumers are about to be buried by an avalanche of defaults and crushing losses as the chickens of financializing oil come home to roost. The pundits crowing about the stimulus […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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