We’ve used the analogy before, in particular to describe what happened to the Roman Empire during the latter days of its existence. Looking around various economies in the world today, the same analogy once again comes to mind. One might say that what we see these days is analogous to the more advanced stages of hypothermia. Early hypothermia may show in nothing more than cold feet, in itself an amusing analogy perhaps. But a body that is exposed to extreme
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Russell Lee Dust in the Bakken October 1937 No, I wasn’t going to write a third article on shale in 2 weeks, absolutely not. But what I’ve read these past few days doesn’t leave me much choice. It turns out that the entire plethora of doubts I have raised in Shale Is A Pipedream Sold To Greater Fools and London Is Fracking, And I Live By The River are now also being raised on a larger scale: the media are
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It's a state of mind, a way of thinking and a belief system bordering on outright religion all in one. If it would be recognized as a religion, it would be the world's biggest. Its followers and proponents hold that growth is a necessary element of survival, that technology is capable of solving all problems (especially those caused by mankind), and that the earth, nature, the living environment, is there for mankind to be exploited at will to achieve that
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Bob Sandberg "Commuters on train platform, Park Forest, Illinois." July 1954 At a time when perceptions of the real state of economies and markets seem to diverge ever more, ranging from the boundless optimism nearly all mass media now attempt to radiate, to the stark warnings from major investors, like here via Tyler Durden or here via John Mauldin, that the stock market is on the verge of a very substantial move down, the ways numbers are used to influence
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