Hello,
Interest rate issues, energy stories, a podcast about getting the right mindset and a chat with Jack and Nick is the focus of this week’s top ten.
Interest rates are affecting so many people these days and it is a focus of Jim Thorne’s latest commentary.
‘In this poem, Robert Frost posits the destruction of the world will be due to either intense passion or bitter hatred, i.e., fire vs. ice. Too often, we tend to oversimplify our analysis to assume that only one power or risk is present at any time. In today’s current market environment, we see the forces of inflation and deflation are at work. Central bankers are and should be concerned about price stability, but too many assume that price stability is only a one-way street.’
“Some say the world will end in fire, some say ice. From what I’ve tasted of desire, I hold with those who favor fire. But if it had to perish twice, I think I know enough of hate to know that for destruction, ice is also great and would suffice”
That leads me to share a brilliant and critically important exchange between the Fed Chair and Senator John Kennedy. The senator gets it out of Powell that government spending needs to be reined in.
It was pointed out by the CD Howe Institute that some 84% of new jobs in Canada since Covid were government related. This is bad for our country as government workers do not produce anything.
It was nice to see a Senator challenge the Chair that government spending needs to be reined in and yes, that government needs to get smaller.
Another very important article to share is from Steve Saretsky who provides some shocking statistics on the number of Canadians who are not even paying their required amounts of interest on their mortgage payments. It seems banks do not want to be the bad guys, but they also do not want to take losses on their mortgage portfolio. This piece really highlights the pain to Canadians with these higher rates.
On the energy side, Eric Nuttall sees triple digit oil prices later this year. Scott Sheffield echoes what G&R said about the Permian, while Allen Brooks gave a great overview on some aspects of the energy sector. I attached some of G&R and Allen’s comments and charts.
Nat Bullard was the guest on Smarter Markets and gave an honest opinion of this energy transition. He reminded listeners that physics restricts the benefits with hydrogen. It requires 2.5 times the capacity on tankers to match LNG and hydrogen is extremely corrosive to pipelines. As I said last week, the BC Throne Speech mentioned nothing about LNG and great writer for the FP asked why – https://financialpost.com/opinion/why-is-bc-holding-back-lng
Another great thing about AI is what it can do for cancer issues and a piece from the BC Cancer Agency is included.
Lewis Howes, best-selling author of the new book “The Greatness Mindset” chatted with Megyn Kelly. He explains the importance of being authentic and ways of having a truly meaningful life.
It is a good one to share with friends and family that need some help.
I had chance to watch Jack Nicklaus and Nick Faldo at the Skins Game in Whistler in 1997. Couples and Norman rounded out the foursome and everyone was hoping for one to drop out as Tiger was the alternate.
Jack was Nick’s first guest in his podcast series and with so much happening in the game of golf, the interview is excellent.
Have a great weekend.
David and Amy
Number 1 - Fire and Ice: The Fight Between Inflation and Deflation - Jim Thorne
What’s a More Significant Risk, Inflation or Deflation?
Number 2 - Kennedy’s full exchange with Powell is a must watch
This five minute interaction with Senator John Kennedy and the Fed Chair is so important to watch and understand. In reality, Powell has no power on the fiscal side and the last 30 to 40 seconds is brilliant.
“Failing a reduction in fiscal spending, the study Kennedy sights will require unemployment in the US to rise 2-3X the current level…. With government spending restraint, significantly less!’
Number 4 - ‘We are very clearly in an energy supply crisis’ - Eric Nuttall sees return of triple-digit oil prices
(He chats with Larysa Harapyn and thinks oil prices will survive and thrive, even during a possible recessionary period)
Number 5 - Permian oil production will peak in two years – Scott Sheffield (PXD).
Interestingly enough, I featured commentary from G&R on Peak Oil. They stated in their latest quarterly: “According to our estimates, the Permian would reach maximum production sometime in 2024-2025 and then begin to peak and decline like the other two basins.”
Number 6 - Thoughts on broader appetite for energy stocks
In his latest post on Energy Musings, Mr. Allen Brooks ponders investor headwinds for energy stocks (but also how this could present an opportunity for investors in the sector as well).
Number 7 - Nat Bullard, Venture Partner, Voyager Ventures and Senior Contributor, BloombergNEF
“In order to tackle big climate challenges and their distinct intersections with trade, with war, and with inflation, we need to do everything. There’s no longer a section of the economy that can take a punt on thinking about decarbonization if that’s part of our goal as a society.”
https://www.smartermarketspod.com/carbon-frontiers-episode-3-nat-bullard/
Number 8 - AI predicts cancer survival patient survival by reading notes
My friend and former Coastal Health Chair says, “This will be how technology will assist in closing the Long-term gap in available physicians”.
Number 9 - Navigating Life's Mission Changes, the Fear of Success, and the Goal of Greatness, with Lewis Howes | Ep. 506 The Megyn Kelly Show
Megyn Kelly is joined by Lewis Howes, best-selling author of the new book “The Greatness Mindset,” to talk about the challenges of believing in yourself in today’s society, overcoming the fear and pressure of success, the fear of judgment and fear of failure, navigating when your life’s mission changes, retirement and shifting your goals, using your trauma to lead you to success, focusing on health and healing while overcoming obstacles, the importance of being giving and finding joy through that, Howes’ memorable and powerful interview with Kobe Bryant, the importance of family and the people around you, how Kobe defined greatness, and more.
Number 10 - ``Jack Nicklaus: “We NEVER played for the money” | E1 #SirNicksRoundTable`` on YouTube
https://www.youtube.com/watch?v=4CNBtTm2zzU
WELCOME TO MY BRAND NEW PODCAST SIR NICK’S ROUND TABLE CHATS
What a way to kick things off with our first guest, THE GOAT, Jack Nicklaus.
We discuss all things Golf including some chat about Rory, Tiger, Arnold Palmer, and the ELEPHANT in the room, LIV Golf – hope you enjoy it
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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