EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES AND INFLATION HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors..
Chip War – A Review
According to the American Automotive Policy Council, the world’s biggest auto companies can use over a thousand silicon chips in each car. This fact from Chip War: The Fight for the World’s Most Critical Technology resonated more than anything else in this fascinating book about the world’s reliance on computing power. Had I been asked […]
Always Cheaper By Sea
90% Of Everything moves by ship, at least according to author Rose George in her 2013 book that’s still fascinating reading today. George traveled as a passenger on a cargo ship called the Maersk Kendal. While onboard she interviewed the captain and crew members, enabling her to present an absorbing picture of maritime freight, an […]
The World Wants More American Gas
First Citizens Bancshares has agreed to buy most, but not all, of Silicon Valley Bank’s (SVB) carcass from the FDIC. They’re acquiring $72BN of loans at a discount of $16.5BN. The FDIC estimates SVB’s failure will cost it around $20BN. The Deposit Insurance Fund currently sits at 128BN. It’s funded by banks, which means by […]
Time For Powell To Go
At some point Congressional oversight of the Federal Reserve should result in a careful examination of the central bank’s error-strewn record under Chair Jay Powell. Below is a roadmap for discriminating legislators willing to conduct a critical review of the Fed’s serial mistakes. Above the Fed’s twin mandate of seeking maximum employment with stable prices […]
The Coming Squeeze On Bank Deposit Rates
An Op-Ed in the Washington Post last week suggested that unrealized losses on fixed income investments are likely much higher than the $640BN on held to maturity MBS. It was written by Sebastian Mallaby, who wrote about hedge funds in More Money Than God and has published several other finance books. Mallaby relies on two […]