Haymaker Daily
More insights from the MacroTourist
Hello, Subscribers:
Earlier this month, Haymaker’s Mark Mongilutz reconvened with friend of this newsletter Kevin Muir (the MacroTourist) to wrap-up a conversation the two began in late January. Due to time constraints during Part I, the topic of energy, about which Kevin has a great deal to say, had to wait for Part II. Given the extraordinary scope of Kevin’s research and knowledge on energy and its role in global markets as they stand today, there will likely be a Part III.
In the interest of keeping this Daily succinct, we are sharing only an abridged version of the transcript, focusing largely on areas we feel could be of investment relevance to our readers. You’ll notice it jumps right in. Enjoy the read.
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Kevin Muir: I think we talk[ed] about that last time, how I believe that Trump [has] basically initiated the rest of the world all of a sudden spending money. So, as the rest of the world expands their fiscal spending and as commodity security becomes more important, you’ll see that and there’s more demand for all these commodities. And the trouble is that they haven’t expanded their supply In absolute ages. So what we have is that for a while it was like supply was up here and we had this situation where demand was down here and it took a while as demand slowly caught up to supply and all that time they kept saying no don’t make any new mines don’t make any new mines. We’ve been burned before.
