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Olduvai III: Catacylsm
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The Debt Beneath

The Debt Beneath Debt is irrelevant and matters not. It’s different this time. That’s the message from politicians, markets and participants. Tax cuts pay for themselves (they do not), leverage doesn’t matter (it does) and the increased costs of servicing the debt as a result of rising rates will be offset by imaginary real wage […]

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Once Burned, Twice Shy? Utica Shale Touted to Investors As Shale Drillers Continue Posting Losses

Once Burned, Twice Shy? Utica Shale Touted to Investors As Shale Drillers Continue Posting Losses For the past several weeks, the drilling industry — hammered by bad financial results — has begun promoting its next big thing: the Utica shale, generating the sort of headlines you might have seen five years ago, when the shale […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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