Silicon Valley Bank (SVB) Collapses
High inflation (government overspending) necessitated a sharp increase in interest rates. This hits the bond market negatively. Unfortunately for SVB their Risk Assessment group was asleep at the wheel. Joe Biden can often as many reassurances as he wants but there is no substitute for poor management. Expect the taxpayer to eventually pay the price.
China brokers agreement with Iran and Saudi Arabia.
The US is left watching as the parade passes. Does the nation eve have a foreign policy under the current Administration? Where is Anthony Blinken? Score one for BRICS.
Top Gun Maverick robbed of more Oscars.
Frankly I couldn't care less about the Academy Awards but the fact that 2022's most popular movie was reduced to a single Oscar (for sound) illustrates how out of touch the Academy is with the rest of the country.
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