EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors.
Not Yet Cool Enough
The regional banking crisis rolled on with two key developments on Friday. One was the release of several reports detailing the errors that led up to Silicon Valley Bank’s sudden collapse. Poor regulatory oversight combined with an absence of risk management were to blame. The other was the slow collapse of First Republic, which is […]
Inflation vs Regional Bank Crisis
This Friday’s inflation update will include the monthly Personal Consumption Expenditures (PCE) deflator and the Q1 Employment Cost Index (ECI). The Fed prefers the PCE because its weights are dynamic. When apples rise in price relative to oranges, CPI assumes no change in behavior, whereas some substitution towards oranges is to be expected. PCE picks […]
Renewable Energy Doesn’t Mean Clean
A wood-burning fireplace on a cold day is a welcoming sight. The crackle and smell of combusting organic matter has provided a place for humans to bond for millennia. Coal replaced wood as the developed world’s chief source of energy in the 19th century. Because of this some feel a misplaced sentimental attachment to burning […]
Some Banks Are Having To Pay More
I’m the treasurer for our co-op in Naples, FL. I recently asked our local bank to pay a more competitive rate on our cash balance, which is well over the $250K FDIC insurance limit. Their deposit rate for business accounts was 0.5%, and maybe because Silicon Valley Bank (SVB) had just failed they quickly raised […]
So Many Pessimists
Why are people so negative? A recent WSJ article included results to the yes/no question: “Do you feel confident that life for our children’s generation will be better than it has been for us?” 78% of respondents said no. They think the next generation will be worse off. This is the most negative reading in […]