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Could be catastrophic. Banks have lent out half a trillion to fracking companies who need oil to be at least $50 a barrel to be profitable. If those frackers
by CyanLite4 7y ago
Could be catastrophic. Banks have lent out half a trillion to fracking companies who need oil to be at least $50 a barrel to be profitable. If those frackers go out of business, combined with COVID-19, combined with literally no ammo left (deficits sky high, rates already super low).... it’ll be 2008 all over again.
- nickik 7y agoThis is nonsense. Banks don't fail that easily, your overestimating the relative size of fraking and the idea that the Fed has 'no ammo left' is just nonsense that no the waste majority of monetary economist would disagree with.