The oil-and-gas industry is getting killed four ways: 1) Our stupid Russia sanctions queered long-standing global distribution arrangements, 2) The industry is starved for capital, 3) Depletion is seriously kicking in and 4) “Joe Biden” and the knuckleheads running the EU countries are trying to kill it so as to usher in a Green New Deal that just doesn’t pencil out. Food processing plants get torched by the dozen.
Whole herds of beef cattle roll over and die out on the range. The housing market is tanking (suburbia’s business model is broken). The Colorado River reservoirs, Lake Powell and Lake Mead, are so low that, by September, both water and electricity may run out for a vast region that includes Phoenix, Las Vegas and Southern California. Lots of things are going south all at once: the stock markets and bond prices, Bitcoin is doing a vanishing act. Either way, you have an apt metaphor for the spot that the USA is in as we enter the summer of double-deuce. Remember the limbo? It was a dance fad kind of like the Olympic high jump in reverse: Instead of leaping over a horizontal bar, you duckwalked under it to calypso music, with the crowd squealing, “How low can you go?”Īs it happens, in the culture of Western Civ, Limbo is also the name of a place on the edge of hell.
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