Kawarau Falls? I’m waiting for Pegasus

Actually, there’s hardly anything to add to the heading!  Some of them are obviously hanging on by the skin of their teeth, and the jaw muscles will be getting tired. With ordinary credit dried up – and it’s hard to see how it gets a window long enough to start up again. Why? Because when things rev up from here, oil will not be available to lubricate the desired activity. It will get scarce again, peak and crash again – it’s called ‘demand-destruction’, better get familiar with it, it is the new norm. Given that it underpins debt and credit now –  (you are less likely to make money, and repay your debt, post peak oil) there will be less willingness to loan, and less to borrow for.Too obvious – where are the screeds of optimistic economists they keep interviewing? The ones who keep predicting an upturn? Busy hoping they get their ‘investments’ out of things  like Kawarau Falls. Good luck


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