Markets are quiet before the long weekend!
Some highlights:
MJ sold to the guy who got caught shorting gamestop!? LOL
https://www.chicagobusiness.com/sports/michael-jordan-finalizing-sale-charlotte-hornets
MJ selling majority interest in Charlotte Hornets to a group of investors led by Gabe Plotkin and Rick Schnall. Jordan is expected to keep a minority stake and a presence with the franchise even after the sale is complete, ESPN said. Plotkin has been a minority owner of the Hornets since 2019, while Schnall is a minority owner of the Atlanta Hawks.
Expert WaPo beverage market analysis:
Blackrock doesn’t lose! Very Impressive!
Balaji Srinivasan discusses the recent financial crisis and compares it to the one that happened in 2008. He explains that over the course of 2021, many people were saying that inflation was going to happen, but the Federal Reserve continued to sell hundreds of billions of dollars in bonds during this period. However, in December 2021, after Powell was renominated in November 2021, the interest rates were hiked very rapidly, causing panic amongst investors and the devaluation of the bonds. Balaji uses the analogy of Apple selling old iPhone models to explain how the buyers could suffer huge losses if they were misled into buying something that would devalue shortly.
Srinivasan says the only thing that unites Americans is their shared reliance on the dollar, which is the last thing keeping the economic union together.
He predicts that cryptocurrency will become the main focus of politics in the next decade and highlights the role of strong leaders in bundling and the potential abuse of power that accompanies it. He then delves into the current state of the US characterizing it as an anarcho-tyrannical state where citizens aren’t allowed to defend themselves. Balaji also discusses the various perspectives on the crisis in Ukraine and explains why it’s crucial to build the next solution before a potential collapse, rather than expecting a new solution to emerge automatically
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