The Schaftlein Report

1) European bank stocks are stabilize as Credit Suisse receives $54B commitment from the Swiss National Bank. 1A) The Federal Reserve meets next week. The expectation is a 25 basis point increase then a pause. 1B) First Republic Bank in merger or takeover talks as the stock falls 25%. 1C) Secretary Yellen says the banking system is stable and deposits remain safe. 1D) 84% of Americans do not want bank bailouts. Shareholders and bond holders? 2) France raises the retirement age from 62 to 64. The U.S. should also consider doing this. 3) Poland to send fighter jets to Ukraine. Film shows Russian jets intercepting U.S. drone and dropping fuel before crash. 4) Trump leading DeSantis in latest polling by 46-32%. In head to head, Trump leads 51-40%.

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.

1) A Florida Federal Judge strikes down a Biden policy of "Catch and Release" Administration claims there are not enough facilities to handle the flow. We'll try policies to stop illegals from coming. 1A) Biden and his press secretary shrug off Fentanyl deaths and drugs continue to pour over the border. 1B) Republican Senators push for border wall construction to resume 2) Russia launches massive missile and drone attacks on civilian targets in cities across Ukraine in another example of blatant war crimes. 2A) Bakhmut may fall soon according to NATO General Secretary. 3) In a plan already labeled "it will not see the light of day", Biden again proposes raising taxes on those making over $400K by raising the Obama tax from 3.8% to 5%. We have a spending problem, not a tax problem. Biden wants 5.2% raise for Federal workers. 4) Job openings are at 10.8M 4A) Initial jobless claims are now at 211K lead by CA and NY 5) Jeffrey discusses the videos released on Fox News Tucker Carlson show and why Democrats are mad. 5A) Speaker McCarthy vows to release all of the footage to the public 6) In early polling, DeSAntis leads Trump by 25 in Florida however the role is reversed in other states.

1) Chairman Powell says Inflation is still too high and unemployment rates may go up to 4.5%. 1A) Sen. Elizabeth Warren goes off the rails in Senate testimony condemning the Federal Reserve's plan to fight inflation 2) Only 21% of U.S. households can afford homes currently listed for sale defined as 30% of median income for house payments. In 2021 that was 40%. 2A) Cost of housing is up 32% since the pandemic even with a 12% decline from the peak. 2B) The 30 year fixed has gone from 2.9% in 2021 to 5.34% in 2022 and 6.8% in 2023 2C) We have 2 job openings for every applicant. 2D) Car loans are now going out 7 years 3) Washington D.C. city Counsel pulls bill to weaken sentences for serious crimes after Congress turns up the heat. It furthers the narrative that Democrats are soft on crime. 4) An Antifa mob attacked an Atlanta police facility and 35 were arrested on domestic terrorism charges. All but 2 were from out of state. 5) Biden administration is pushing China to NOT supply weapons to Russia. Battles rage on in Ukraine and both sides are losing significant casualties. 6) In Politics, Biden approval is at 46% however just 37 % of Democrats want him to run for reelection. What are the alternatives? 6A) Sen. Fetterman still hospitalized for depression. 6B) Gov Larry Hogan will NOT seek the Republican nomination. 7) In the classified document investigations, both Democrats and Republicans claim the FBI is withholding information.

1) Consumer Price Index increases 6.4% year over year while core CPI is up 5.6% Both of these figures are still too high and indicate higher interest rates for longer. Very slow progress bringing down inflation as food, housing and energy prices remain high. Interest rates spike. Markets fall.

2) Balloon fallout as White House provides little to no information. Intelligence community caught flat footed? 1 Balloon and 3 objects? One missile strike failed. Questions remain why administration allowed the balloon to travel across the U.S.? Electronic sensors recovered

3) 3 killed and 5 in critical condition at Michigan State. The shooter, a 43 year old black man not affiliated with the university or the students kills himself. No motive at this time?

4) Haley officially announces her candidacy for President. More to follow? Who can beat Trump? Reuters/Ipsos Poll Trump at 43%, DeSantis at 31% Haley at 4% 4a) America does not want a Biden-Trump redo.

5) U.S. advises American citizens to leave Russia. 6) Ukraine inflicting huge casualties on Russians as conflict appears to escalate. More Russian troops to the front? Potential Russian advance after months of stalemate?