Schaftlein Report | Wall Street Avoids Disaster After Government Intervention
1) Federal Reserve, Treasury and FDIC step up and back ALL deposits to avert further bank runs.
1A) Stocks are up after a severe fallout on Monday when bank stocks were routed over concern for their very survival.
2) Inflation rose by 6% in February down slightly from January’s rise of 6.4%.
3) More layoffs in the technology sector as Meta, formerly known as Facebook, announces 10K pink slips planned
3a) CA court rules Gig workers can be classifies as contractors rather than employees.
4) Biden OKs Alaska oil drilling project. The political leadership in Alaska was unanimous in its support.
Project will produce 180K barrels a day and generate billions in tax revenue.
Climate Environmentalists are outraged. We’ll explain their lunacy.
4) Prosecutors appear to be targeting Trump over the Stormy Daniels payment for potential indictment.
5) Trump and DeSantis virtually tied in CNN poll at 37-39% while Haley and Pence are around 7% each.
6) DeSantis calls Russia – Ukraine was a territorial dispute and U.S. should limit involvement. We disagree on this one but still support DeSantis.
7) McConnell out of hospital with Rib Fracture from fall. Will rehab.
