If this is what losing looks like…
Then I’d like to lose really hard. Here’s those dodgy Russkies’ international reserves:
And their foreign debt:
What else? Well, Russian production of key weapons systems has risen 6x since October 2022, which was shortly after US Commerce Secretary Raimondo told Congress that US sanctions had reduced Russia to using semiconductors from “dishwashers and refrigerators” for their weapons.
All I know is I want THOSE dishwashers and refrigerators!
I’m a simple man. I like peanut butter on toast more than caviar, but from where I see things, these are not the debt, reserves, and production charts of a losing side.
Either the Russian data are all fraudulent which is, of course, possible (but if so, we’d likely have seen it on the battlefield when the Russkies start dropping washing machines out of wonky planes). Maybe that’s happening and Ivan’s got superb aim or they’re not dropping washing machines. Here’s what I think. I think that the massive propaganda program of the Western presstitutes is about to fail. Let’s watch!
And, of course, because it worked so well on those dirty Russkies, why not do it to those pesky Chinese?
Which brings us panting to…
Here We Go
EU Adopts Extra Tariffs Of Up To 35.3% On Chinese EVs
The European Union on Tuesday agreed to slap hefty tariffs on Chinese-made electric cars after a probe concluded Beijing’s support undercut European rivals.
The duties are on top of the current 10 percent on imports of electric vehicles from China, according to a text published online. The decision will become law after publication in the EU’s official journal on Wednesday and will then enter into force from Thursday.
Meanwhile, the German economy is about to get annihilated.
German car manufacturer Volkswagen is, for the first time in its 87-year history, planning to close production sites in its home market.
At least three manufacturing plants will be closed. The remaining plants will be downsized, and whoever keeps their job (after tens of thousands of staff lose their jobs), must accept a 10% reduction in salary and an end to any bonuses. This is, of course, great news to the Greta crowd because less cars means we’ll be saving the planet and making it green. All those now jobless VW employees can find employment making bicycles from conflict free hemp seeds grown in Timbuktu where the proceeds go to the Backawatcha tribe which has been designated by Davos man to receive UN aid. The thing is, I’ve been to piss poor countries. They’re not green. In fact, they’ve worse pollution than anywhere else I’ve been.
It’s a bigger issue than simply German industry. Germany has been the powerhouse that has largely assisted Europe. The slow implosion of the German economy will likely drag the rest of Europe down with it.
Thank heavens they don’t have to rely on that bastard Putin and his cheap gas. Instead, they can buy it from the Indians at a premium. Think of it as philanthropy to India. After all, socialists like leveling the playing field, and Indians need a hand, so…
Artificial Electricity
It doesn’t exist! It turns out, you need the real stuff.
Here at Insider and Glenorchy HQ, we have been saying for years that the best way to play the AI boom is to buy coal, natural gas, and uranium. In fact, I remember presenting the idea at a conference in Orlando back in June and people looked at me with that same look that you give your kids when they assure you they didn’t steal the cookie from the cookie jar. But here we are today…
Nuclear is a safe source of carbon-free energy that can help power our operations and meet the growing demands of our customers, while helping us progress toward our Climate Pledge commitment to be net-zero carbon across our operations by 2040,” Matt Garman, CEO of Amazon Web Services, said in a statement.
Hahaha! Now suddenly when these clowns want their precious AI, nuclear power is “carbon free.” Spineless hypocritical imbeciles who will change the narrative when it suits them. We’ll know the tide has truly turned when paedophile Hollywood celebrities start promoting it and give up on this sort of hogwash.
I highly recommend NOT reading the article if you don’t want your brain to turn to mush. It’s a fantastic compilation of feel good but completely meaningless word salad ending with “renewable” and making the peasants eat bugs.
In any event, when the likes of P Diddy’s mate above find the time to stop raping little children and switching course to promoting nuclear (because they simply follow trends and haven’t the faintest idea what they’re talking about), then we’ll know we’re closer to the top.
In the meantime, investing in uranium has been profitable (but tough).
What we missed however is the SMR thing. I recall someone asking me a while back what I thought about small modular reactors and NuScale (SMR) in particular. My reply was that we weren’t really into concept stocks but instead prefer to buy beaten up sectors — things that are established and proven but have gone through a real rough patch. As such, we decided to stick with the broad uranium sector. I was asked again in early April about SMRs. Same reply. Well, bugger. We didn’t see this coming, nor NuScale going up 4x.
NuScale and Sprott Uranium Miners ETF indexed to 100
NuScale and uranium miners have taken off as of late as big tech companies make moves to power data centres by nuclear fired power stations with a particular interest in small modular reactors.
Well, that is a bonus for uranium but we highlight to folks that it will take at least five years to bring this capacity online. If data centres take capacity away from existing nuclear-fired power stations, this will have to be offset by additional electricity being generated by coal and gas.
Just a little reminder for us all…
Stay long and be patient!
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