Possible emergency meeting OPEC, page-4

inverted,

I agree with your comment, however the US markets have a history of hiding bad assets an toxic debts away from the sight of company balance sheets and investors. If defaults in the shale oil patch take on a life of their own things could quickly get out of control in the US junk bond market which is at post GFC record highs at the moment. New debt to finance the replacement of old debt is not any sort of sensible answer IMO. As we know from the subprime collapse, risks that were thought not to be correlated, were in fact heavily so. For all we know junk bonds in the shale oil patch could be being used as collateral to finance other investments in the market.

The time for complacency in this stock market is over IMO.

Eshmun