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It’s bulls v. bears on Wall Street, and the collateral damage is substantial.
Overtaken by arithmetic and logic, the Wall Street bulls are trying to find a place to hide their money, and while they don’t agree on where to put it, they are beginning to agree that it definitely should not be in the fracking patch. The stock of fracking operators has been in bear country for weeks now as the strain of trying to pretend everything is all right gets worse by the hour.
A Ponzi scheme requires the operator to get new suckers in the door fast enough to use their money to pay off the old suckers, so they don’t blow the whistle on the con. Continue reading
