Schaftlein Report | Xi and Putin meet in Moscow
Guest – Drew Allen
1) China shifted the majority of their oil purchases to Russia over Saudi Arabia
1A) International Criminal Court issues arrest warrant for Putin war crimes.
2) Potential Trump indictment next week. Manhattan district attorney playing dangerous political game. It is a misdemeanor.
We’ll discuss the implications. Will Trump gain politically?
3) In France, the Macron government survives a no confidence vote over raising the retirement age to 64 from 62 which was badly needed.
4) In Economic news, Amazon to cut an additional 9K jobs.
4A) First Republic Bank still shaky as Jamie Dimon leads an effort to rescue the bank. Stock was down 46% yesterday but up slightly today.
4B) UBS buys Credit Suisse for $3.2B as $17B in debt wiped out.
4C) Home sales spiked 14.5% in February as prices fell for the first time in a decade when mortgage rates fell. 30 year loan now 6.62%
4D) Biden decision to veto and ESG investing bill draws ire from Sen. Joe Manchin and others across party lines.
5) European Union to send 1M rounds of ammunition to Ukraine. U. S. to renovate Abrams tanks to speed up delivery.
6) In the court of stupidity, a Philadelphia judge awarded $9.25M to 343 plaintiffs who protested the George Floyd action and had to be disbursed by police.
The judge cited physical and emotional issues. This works out to $19K per person after attorney fees.
7) 430K kids in LA are not in school over a strike.
8) Trump leads DeSantis 54 -26 in newly released Morning Consult Poll. Both are within 2 points in race against Biden.