Hello
I start this week’s top ten with some energy related entries.
The brilliant Jeff Currie has been saying for a while we are in a ‘Commodity Supercycle’ and thinks the lack of capital due to the banking crisis will furl higher energy prices. The bright minds at Doomberg use the Santa Claus analogy to show that even Biden knows we need fossil fuels and the news story out of Alaska is huge. A news piece from Globe and Mail which shows movement with nuclear energy. Finally, Mike Rose explains the 3 important benefits of LNG.
The Credit Suisse story was a big story this past week and Louis-Vincent Gave provided a great overview. I also added a 20-minute video that showcases the many blunders at that ‘Swiss Shop’ over the years.
The Atlantic wrote a great piece on the subject titled “What People Still don’t know Get About Bailouts”.
The real estate market is interesting….listings are down, mortgage rates may finally start dropping but financial institutions may be tougher on lending. I thought Steve Saretsky’s piece was timely.
With the bailouts in the US and more worries of depositor protection, the subject has come up again about whether the $100,000 CDIC protection is enough. Melanie Paradis explains that our limits are way too low.
Albert Brooks had yet another great piece and as my friend says “I think it a very useful tool. In strategy work I often had an executive group make a ’stop doing’ list to accompany their going forward”.
We should all make that “Make a To-Don’t List”.
If you missed it, two teammates and probably the two best overall players in the game went at each other for the first time. It was the last plate appearance for the WBC Championship.
Baseball is so magical sometimes and that was a treat to watch it live. Shohei Ohtani was picked the MVP and here is his pregame speech.
“Let’s stop admiring them. … If you admire them, you can’t surpass them. We came here to surpass them, to reach the top. For one day, let’s throw away our admiration for them and just think about winning.”
Have a great weekend
David and Amy
Number 1 - Goldman Sachs expects commodities Supercycle-Jeff Currie
“Historically, when you have this kind of scarring event, it takes months to get capital back … We will still get a deficit by June and it will drive oil prices higher.”
Number 2 - Between A Rock and a Cold Place - Doomberg
The reactions to Biden’s Willow decision make apparent the degree to which many progressives are convinced we will soon have eradicated our need for fossil fuels. They are convinced of it. The disparity between these beliefs and what political leaders must know to be true is massive. Biden just told the kids that Santa isn’t real, and the kids are suing to bring back the illusion.
Number 4 - LNG is a Hat Trick for Canada - Mike Rose
Canada has a compelling opportunity to simultaneously improve the global atmosphere, materially build our overall economy, and contribute to growing First Nations prosperity.
Number 6 - What People Still Don’t Get About Bailouts
Good financial-crisis management is about doing what it takes to stop the contagion.
It doesn’t seem fair, does it? Just 15 years after our financial overlords went on a bailout binge, showering bankers with trillions of taxpayer dollars, they’re once again riding to the rescue of the rich while the public watches in horror. Did they learn none of the lessons from the 2008 meltdown?
Number 8 - Melanie Paradis: Our deposit insurance limits are way too low
Canadian bank accounts have $100,000 in coverage. Americans have $250,000. We haven’t raised our level since 2005.
Number 9 - Make a To-Don’t List
When you’re feeling stuck, focusing on the things you hate can help.
We hope you found the Top Ten interesting this week, and are looking forward to another selection of articles, stories, and commentary next week. If you know of anyone else who would be interested in receiving our weekly note, please let me know.
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