First Republic Bank fails and is offloaded to JPMorgan Chase. This is the second-largest bank failure in US History. Many think the worst part
of the banking crisis is over, but many others are worried about the banking industry becoming a monopoly. IF “Too Big to Fail” banks like JPMorgan keep gobbling up the smaller banks then we may run into an “All eggs in one basket problem.” WHY it failed.
Unions are gaining steam in the US.
Pilots, UPS & Amazon Drivers, Baristas at Starbucks, and more have all made moves toward unionizing over the past year and many Starbucks locations (among other entities) have succeeded. Union membership, however, is at an all-time low, but American support for unions is at an all-time high.
Argentina is leaning heavily on the US Dollar because inflation for the
South American country is over 100%. And we thought we had it bad at 9%. Typical inflation for Argentina is in the 20-30% range but triple digits are too much to handle. Price freezes and VERY aggressive rate hikes are just not working. Argentina trusts the USD to hold its value and illegal currency exchanges are popping up all over the country charging double to going rate for US greenbacks. Some in ARG want to transfer completely to using USD, they would join 11 other countries if they
made the switch to being fully reliant on the USD.
The Above story means that the US is still the king of currency, but its value is still slipping
this year. One of the main strengths keeping the USD alive is that it is the go-to currency for oil trades.
Coke and Pepsi have been losing
customers because many are ditching carbonated sugar water drinks that rot your insides for healthier choices. This has led to a private bidding war between the two Soda titans for Olipop. Olipop is a Prebiotic soda maker that is offering a healthier option and it expects to double its sales to
$200M+ this year.
Adidas is being sued by its stakeholders because the shoemaker imploded after parting ways with Kanye West over his antisemitic remarks. The irony of Adidas being founded by a Nazi is some truly dark comedy. Adidas has lost $633M in Q4 alone.
Super Mario Bros. Movie has surpassed $1 billion in sales. It is the first movie of the year to reach that milestone. Conservatives are singing its praises because it is
family-friendly and doesn’t preach any woke nonsense. Though, some tougher-to-please conservatives are saying we are setting our standards too low.
The US could run out of money to pay its bills by June 1st, or so claims Treasury Secretary Janet Yellen. Raising the Debt Ceiling is a top priority for the US government at the moment because if it is not raised then the US could default on its loans. This would have catastrophic effects on the US and the global economy. Remember
that story a few paragraphs back about the USD being king, well it won’t be king for too long if the US gov. doesn’t raise the debt ceiling. And yes, this all means that pretty much the entire world runs on funny monopoly money that are gov. prints on a whim.
Geoffrey Hinton, an Ex-google employee whom some have dubbed the ‘Godfather of AI’ is expressing real concerns about the aggressive advancement and pursuit of AI. Hinton said in not so many words in his
interview with the New York Times (A propaganda machine pretending to be a newspaper) that if a moratorium is not put on AI development, then it is going to be extremely difficult to know what is real and what’s fake. Hinton also hinted that AI could heavily disrupt the job market. IBM thinks it can replace 8,000 jobs in the coming years thanks to AI.
Two wins, or at least I think so.
- Pornography sites are self-blocking access to their content in all of Utah because a new law holds the sites responsible for when minors access their content. Let us Pray that other states take notice and follow suit.
- Hollywood writer’s strike will put many of the terrible late shows run by the woke left on hold indefinitely.