Ferg's Finds

This is a short weekly email that covers a few things I’ve found interesting during the week.

Article(s)

I continue to see a rough decade ahead for Australia (granted, I've been very wrong on this for a while now).

Australia records biggest income decline in the developed world.

Disposable income rolling over while facing mortgage rates resetting higher as fixed rate periods end is a recipe for disaster (Aussies can only fix mortgage rates for 2-3 years, unlike the U.S. and parts of Europe).

Podcast/Video

MacroVoices #401 Leigh Goehring: The Role of Monetary​ Policy in Commodity​ Investing​

Quote

“The US military is ultimately what backs the USD.”

That is clearly true on some level, but it omits a critical point: Oil, in very large amounts, backs the US military.

-Luke Gromen

Tweet

No sooner has the digital ink dried on this piece I wrote than India is looking to increase coal consumption from 25% to 58% (depending on what baseline you use).

Charts

Reality vs Fairy Tales.

Something I'm Pondering

I'm pondering the flow on effects of seeing these SMR companies run into issues.

Atomic Renaissance Stalls as NuScale Cancels Small-Reactor Project

X-energy, Ares drop merger plan (followed by them laying off 20% of their workforce).

It's sad to see SMRs companies stall since they were the most optimistic scenario for getting ourselves out of the low EROI tailspin we are in.

Instead, it's going to be falling back on coal for the short to medium term.

That said, this is nice to see: US, UK Lead Pledge to Triple Nuclear Power by 2050 at COP28.

Hope you’re all having a great week.

Cheers,

Ferg 

P.S.

If you’re interested in my story and why I started this Substack, you can read the story here.