Look at the listed companies.  Marathon’s stock has been cut by 1/3.  Rewards cut in half and they must have took on a boat load of hardware at the peak of the market even at what must have been a decent discount.
The Fed hasn’t even really started QT and the everything market totally shit the bed.
Between inflation and the measures to correct it I have a hard time thinking this is even close to the bottom.
Nonetheless we’re in infrastructure mode and would love to fill it up with cheap gear!