investmentresearchdynamics.com / Dave Kranzler /
If it is, I don’t know of anyone who saw that coming. I have been asserting over the past month or so that the plunge in the price of oil is the best indicator that the global economy - including and especially the U.S. economy – is collapsing.
There had been a bubble of sorts blown up in the shale oil industry. Billions in junk bonds have been issued against what is turning out to be the latest of Wall Street’s financial engineering Ponzi schemes. But what everyone seems to be overlooking is that the banks and private equity firms themselves are going choke on the billions in bank debt issued by the collapsing shale oil industry.
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