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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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Olduvai IV: Courage
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Olduvai II: Exodus
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