Hello
A ‘super’ top ten for Super Bowl week and we start with Eric Nuttall’s outlook for 2023. It is a good summary and he is getting quite the following here and abroad.
Interesting news this week with the Energy Giant BP. They have adjusted their course on their renewable push, and we included a piece from the Washington Post. I also attached some tweets and comments about their move.
Mark Mills is brilliant, and I have included some of his work before. Recently he presented at the Skagen Funds Conference and he explains quite well the staggering amount of metals the mining needed to get anywhere close to these targets.
It is expensive to live in Victoria and one indication is that some of my favorite restaurants are not open for lunch. The fact is that there is a shortage of workers and that trend will not reverse any time soon. I included a piece from Vic News on how much of people’s after tax income goes into housing. I also added the recent update from Steve Saretsky on the housing situation.
The inflation worries seem to ebb and flow every day and a good person to explain what is going on is Jeff Snider. He says the market is pricing that the FED has to overreact on rates as indications are everywhere that the economies are slowing down.
An interesting Smarter Markets podcast in which the guest was a leading CIA person, and he explains why countries get it so wrong figuring out other leaders.
Deglobalization is getting more and more attention and Peter Zeihan explains that “There’s No Stopping it Now”.
Lots of chatter about how ChatGPT is going to effect so many professions and David Brooks’ op-ed brilliantly explains what people should be doing about it.
With it Super Bowl weekend and the fact that Canadian feeds tend not to get all the good commercials, I included a link to some of the best for 2023.
Finally, I wrote a commentary that got into the TC last weekend as the Bateman Foundation does their best to deal with the challenges of running a cultural institution. I started a collaborative process with my friends at the Maritime Museum a year ago and our first try of swapping space was not successful. I will keep you posted and during this transition time, any support would be greatly appreciated.
Link to donate – https://batemanfoundation.org/donate/
David
Number 2 - Don’t Say it our Loud, But BP is Back Into Petroleum - Javier Blas
By altering course, BP has finally acknowledged what had been crystal clear to shareholders for a while: Pumping fossil fuels is very profitable, and demand for oil and gas will stay strong for longer. It hasn’t pulled a U-turn, but it isn’t going in a straight line either.
Number 3 - Mark Mills: The energy transition delusion: inescapable mineral realities
https://www.youtube.com/watch?v=sgOEGKDVvsg
Energy expert Mark Mills speaks at SKAGEN Funds New Year’s Conference 2023
https://www.manhattan-institute.org/expert/mark-p-mills
Mills served in the White House Science Office under President Reagan and subsequently provided science and technology policy counsel to a variety of private-sector firms, the Department of Energy, and U.S. research laboratories, and prior to that began his career as an experimental physicist and development engineer in microprocessors and fiber optics.
Early in his career, Mills was an experimental physicist and development engineer at Bell Northern Research (Canada’s Bell Labs) and at the RCA David Sarnoff Research Center on microprocessors, fiber optics, missile guidance, earning several patents for his work. He holds a degree in physics from Queen’s University, Ontario, Canada.
Number 4 - $7 out of every $10 earned goes towards mortgage payments in Victoria: report - Victoria News
The report shows that homeowners in Vancouver needed almost 96 per cent of median household incomes before taxes to cover the cost of their mortgages in the fall of 2022. This included principal and interest, property taxes and utilities at current market prices.
Number 5 - MacroVoices #362 Jeff Snider: Soft Landing or Crash Landing?
https://macrovoices.podbean.com/e/macrovoices-362-jeff-snider-soft-landing-or-crash-landing/
Erik Townsend and Patrick Ceresna welcome Jeff Snider to MacroVoices. Erik and Jeff discuss:
- Inflation in post-pandemic period
- Soft landing?
- Energy
- European market
- Has the fed successfully contained inflation?
- China reopening
Download the podcast transcript: [Click Here]
Number 6 - Smarter Markets: Rob Dannenberg, Former Chief of Central Eurasia Division, CIA
https://www.smartermarkets.media/a-smarter-way-episode-4-rob-dannenberg/
“When I retired and moved into the private sector, I found that the skill of being able to understand other people’s points of views and articulate them back to them was helpful for me as I tried to explain to my clients what was going on in the world and what was likely to happen.”
Number 7 - Deglobalization: There's No Stopping It Now
“The globalized world has seemingly been great for everyone…security, access to foreign markets, the list goes on…so why would the US choose to continue down the path of deglobalization?”
Peter closes by saying that the Biden admin accelerated the de-globalization moves that Trump started.
https://www.youtube.com/watch?v=bhGb-BaGw2Q&feature=youtu.be
Number 8 - In the Age of A.I. , Major in Being Human
https://www.nytimes.com/2023/02/02/opinion/ai-human-education.html
The best teachers teach themselves. When I think back on my own best teachers, I generally don’t remember what was on the curriculum, but rather who they were. Whether the subject of the course was in the sciences or in the humanities, I remember how these teachers modeled a passion for knowledge, a funny and dynamic way of connecting with students. They also modeled a set of moral virtues — how to be rigorous with evidence, how to admit error, how to coach students as they make their own discoveries. I remember how I admired them and wanted to be like them. That’s a kind of knowledge you’ll never get from a bot.
And that’s my hope for the age of A.I. — that it forces us to more clearly distinguish the knowledge that is useful information from the humanistic knowledge that leaves people wiser and transformed.
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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