Ferg, there is nothing "short" about this week's update....plenty here for those here to hear about the ongoing Propaganda Wars we are fighting. Let us all take confidence that "woke" is simply an event which is completely missing the point of the current "Awakening" that is happening...which is not an event, but a movement for Freedom and Truth. Thank you for doing your part, especially thinking of threat this is to our youth. Kind regards, TMacro06
Two decades ago at a Berkshire Hathaway meeting, Charlie Munger observed that monopoly newspapers played a crucial role in keeping governments in check. However, he warned that global competition would erode the accuracy of the newspaper industry, ultimately leading to its decline. "We will miss them terribly," he cautioned, foreseeing a time when society would lose a vital source of reliable information and accountability.
Interesting thanks. I didn't realise it had been such a steady decline (granted more than a decade of data missing in the Gallup chart) as had thought it had fallen off a cliff more recently with clickbait/social media trend.
Me neither. Great of you to point it out. But, by now I think we have read enough questionable headlines. I remember when Trump first started calling out "fake news," and at the time, I thought he was completely discrediting himself. But honestly, as time has gone on, I have to admit that he was probably right in more ways than I originally thought.
This is him talking about newspapers at the daily journal meeting in 2019:
Many of the newspapers in America had similar niches where they just made regular substantial profits in a very easy simple business to run. Of course, what’s happened is that technological change is destroying the daily newspapers in America, including the little ones like ours. The revenue goes away and the expenses remain. They’re all dying. Berkshire Hathaway owns, what, about a hundred of them, and truth of the matter is they’re all going to die. And there’s nothing that can be done with good management to save them.
It’s a sad thing because those newspapers were an accidental part of the government. They called them the ‘Fourth Estate’. And each one had come into being sort of by an accident of capitalism without any planning by the founding fathers. And the people who ran them became very powerful people due to two great American institutions. One is nepotism and the other is monopoly. (laughter)
And all those nepotistic monopolists, many of whom drank too much, actually morphed into a function where they were more useful than our legislators. And of course, we’re losing them all. And what we get is these opinion services on TV that everybody watches, where everybody believes some ridiculous version of things that’s slanted as much as anybody could… And it’s not a good thing in America that we lose Newsweek, Time magazine and all of our daily newspapers and get back Rush Limbaugh. Or (inaudible) on the other side. But that’s what’s happened.
And it’s a sad thing. Nobody planned that we had a fourth estate, that it was really a branch of the government that worked very well for us and that took pride in being accurate and so on. And nobody planned that it would go away. It just happened.
Not really, as it's a small fraction of most of their revenues ~10% for likes of TDW and the OSVs are flexible between wind and O&G work is my understanding.
Dustin Garrow made the comment today on The Crux poddy YT, Jack Edlow said "The future nuclear fuel cycle industry, will not be utility driven" Hyperscale data center's will set the price in the fuel cycle! These tech companies look for 20 years coverage not 2 or 3 like most utilities! Wow!
Ferg, there is nothing "short" about this week's update....plenty here for those here to hear about the ongoing Propaganda Wars we are fighting. Let us all take confidence that "woke" is simply an event which is completely missing the point of the current "Awakening" that is happening...which is not an event, but a movement for Freedom and Truth. Thank you for doing your part, especially thinking of threat this is to our youth. Kind regards, TMacro06
Howard Marks wrote a memo entitled "shall we repeal the laws of economics?" and it should be mandatory reading for everyone.
Damn how had I missed that one! Thanks for the recommendation
I rue the day, he stops sharing his wisdom!
Two decades ago at a Berkshire Hathaway meeting, Charlie Munger observed that monopoly newspapers played a crucial role in keeping governments in check. However, he warned that global competition would erode the accuracy of the newspaper industry, ultimately leading to its decline. "We will miss them terribly," he cautioned, foreseeing a time when society would lose a vital source of reliable information and accountability.
Interesting thanks. I didn't realise it had been such a steady decline (granted more than a decade of data missing in the Gallup chart) as had thought it had fallen off a cliff more recently with clickbait/social media trend.
Me neither. Great of you to point it out. But, by now I think we have read enough questionable headlines. I remember when Trump first started calling out "fake news," and at the time, I thought he was completely discrediting himself. But honestly, as time has gone on, I have to admit that he was probably right in more ways than I originally thought.
Things like this scare the shit out of me:
https://www.youtube.com/watch?v=_fHfgU8oMSo
This is him talking about newspapers at the daily journal meeting in 2019:
Many of the newspapers in America had similar niches where they just made regular substantial profits in a very easy simple business to run. Of course, what’s happened is that technological change is destroying the daily newspapers in America, including the little ones like ours. The revenue goes away and the expenses remain. They’re all dying. Berkshire Hathaway owns, what, about a hundred of them, and truth of the matter is they’re all going to die. And there’s nothing that can be done with good management to save them.
It’s a sad thing because those newspapers were an accidental part of the government. They called them the ‘Fourth Estate’. And each one had come into being sort of by an accident of capitalism without any planning by the founding fathers. And the people who ran them became very powerful people due to two great American institutions. One is nepotism and the other is monopoly. (laughter)
And all those nepotistic monopolists, many of whom drank too much, actually morphed into a function where they were more useful than our legislators. And of course, we’re losing them all. And what we get is these opinion services on TV that everybody watches, where everybody believes some ridiculous version of things that’s slanted as much as anybody could… And it’s not a good thing in America that we lose Newsweek, Time magazine and all of our daily newspapers and get back Rush Limbaugh. Or (inaudible) on the other side. But that’s what’s happened.
And it’s a sad thing. Nobody planned that we had a fourth estate, that it was really a branch of the government that worked very well for us and that took pride in being accurate and so on. And nobody planned that it would go away. It just happened.
Does anyone have the date, when we reach the inflection point of reality, regarding energy production? 🙏
Any concern Ferg about offshore wind declining and impacting OSV’s (I know some of the players have some focus on that besides offshore oil services)?
Not really, as it's a small fraction of most of their revenues ~10% for likes of TDW and the OSVs are flexible between wind and O&G work is my understanding.
Great news re Mia's back!
Dr Pippa's most recent masterpiece is "American Glasnost". Check it.
Dustin Garrow made the comment today on The Crux poddy YT, Jack Edlow said "The future nuclear fuel cycle industry, will not be utility driven" Hyperscale data center's will set the price in the fuel cycle! These tech companies look for 20 years coverage not 2 or 3 like most utilities! Wow!
What’s the source for the last chart! (Wind decline rate) I’m keen to read the full document
Got the chart from: https://x.com/WilliamLaceyYYC/status/1736194025965945289
Who in turn looks to have created it via https://novilabs.com/ as they produce this for a lot of oil and gas production profiles