Biden Administration Approves Oil Drilling Project

 The Biden Administration recently passed the Willow Project, an oil drilling operation in Alaska. ConocoPhillips, the company leading this project, plans to establish three drilling sites on federal land in Alaska. This project is predicted to produce 576 million barrels of oil over thirty years while emitting around 280 million tons a year of greenhouse gasses. Arguments persist over this complex decision debating whether or not Biden's decision can be justified. 

The Biden Administration has defended the harsh critiques of many environmental activists, claiming that their decision to approve the project prevented the situation from escalating and landing in a courtroom. It is important to note that the original proposal from ConocoPhillips included five drill pads, yet the administration negotiated it down to three. While the impact on the climate remains harmful, this negotiation might have ended differently had the Biden Administration refused the project's passage. 

Those opposing this approval include environmentalists and indigenous communities in Alaska, as they will face the harsh consequences of this project. The Mayor of Nuiqsut, Rosemary Ahtuangaruak, describes how this development would directly impact her community. According to PBS, "[Ahtuangaruak] is worried about impacts on caribou and her residents' subsistence lifestyles." Many communities rely on the resources found in the surrounding areas of the development; therefore, they will experience a dramatic shift in lifestyle once this project begins. Alternatively, it is argued by those in support of this project that Alaska will benefit economically. The Washington Post states, "Willow is estimated to produce billions of dollars of economic activity and tax revenue in Alaska…". Additionally, this project will produce a consistent energy supply that will benefit U.S. citizens. 

This project has many complex layers that produce both positive and negative reactions. It is difficult to say whether or not Biden's decision was the right choice, given the substantial impact this project will have on the environment. While the Alaskan economy will benefit from this development, many surrounding communities will suffer. 

https://www.pbs.org/newshour/nation/what-is-the-controversy-behind-the-alaska-willow-oil-project 

https://www.politico.com/news/2023/03/13/biden-administration-approved-willow-alaska-oil-00086746 

https://www.washingtonpost.com/climate-environment/2023/03/13/willow-project-alaska-biden-conocophillips/ 

https://www.jhunewsletter.com/article/2023/03/why-the-willow-project-will-be-harmful-to-the-environment 

https://www.washingtonpost.com/climate-environment/2023/03/17/willow-project-alaska-oil-drilling-explained/ 

https://www.cnn.com/2023/03/13/politics/willow-project-alaska-oil-biden-approval-climate/index.html 

Newly Elected Tennessee Representatives Face Expulsion After Protests Against Recent School Shootings

 

Yet another school shooting took place at a private elementary school in Tennessee. However, the hope for change has again fallen, as there has been little action in response to the shooting. Two Democratic Tennessee Representatives face charges after protesting this recent event alongside a colleague. The protection of their First Amendment rights is up for question, in addition to the justification for the reasoning of their removal. 

The Representatives who are in the process of being expelled, Representatives Justin Jones and Justin Pearson, describe why they felt they needed to use their voices to protest. They hoped to “amplify the voices of protesters and their constituents” and to use their power and position in government to start the drive for change. Furthermore, the representatives and their supporters argue that this expulsion would represent a loss of democracy in Tennessee. While an additional representative was present at this protest, she has not faced expulsion. CBS shares Representative Gloria Johnson's opinion as to why Justin Pearson and Justin Jones were expelled, stating, “I think it’s pretty clear: I’m a 60-year-old White woman. And they are two young Black men.” Additionally, President Biden has spoken out against the expulsion, claiming it was “...shocking, undemocratic, and without precedent…” further supporting the argument that this violated a First Amendment right. 

The Tennessee Constitution, Article 2, Section 12 permits the House to “punish its members for disorderly behavior.” What is considered “disorderly behavior?” Is exercising your constitutional right to protest disorderly? In 2016, a State Representative, Jermey Durham, was expelled for “disorderly behavior” as he faced allegations of sexual misconduct. It is difficult to identify what falls under the “disorderly behavior” category as these are two very contrasting issues. Regardless of this decision, there seems to be a lack of urgency and desire for change from the State of Tennessee when it comes to gun control reforms. 

The Tennessee House and Senate are Republican-led; however, not all Republicans support loose gun restrictions. Regardless of party affiliation, members have been encouraged to collaborate and work together to de-escalate this issue. While some individuals such as Representatives Justin Jones and Justin Pearson have actively advocated for change, it is evident that their viewpoints are being resisted as seen through their recent and unjustified expulsion. 

https://www.nytimes.com/2023/03/29/us/politics/nashville-shooting-gop-action.html 

https://www.cnn.com/2023/04/11/politics/tennessee-gun-laws-governor-bill-lee/index.html 

https://www.npr.org/2023/04/06/1168363992/tennessee-expel-3-democrats-house-vote 

https://www.cbsnews.com/news/tennessee-expulsion-house-democrats-expelled-what-happens-now/ 

 

Desantis vs the Mouse

Florida Governor Ron DeSantis has been in a legal battle with Disney World for over a year. The conflict began when Disney spoke out against a controversial state law limiting discussions of sexual orientation and gender expression in Florida schools 1. In response, DeSantis stripped Disney World of its special tax district status, which had made it a self-governed enclave in the Sunshine State for more than 50 years.

DeSantis has continued to escalate the battle with Disney. On April 17, 2023, he announced that the state’s Republican legislature would take steps to nullify the company’s effort to circumvent state oversight of Walt Disney World 2. DeSantis said the legislature would revoke a development agreement Disney struck with outgoing members of an oversight board. The ongoing tussle between DeSantis and one of Florida’s largest employers shows no signs of slowing down. DeSantis has yet to announce a presidential bid but is considered a likely Republican presidential candidate.

The board appointed by Governor Ron DeSantis to oversee Walt Disney Co.’s central Florida theme parks is called the Central Florida Tourism Oversight District Board of Supervisors. The board was created when Florida lawmakers passed a bill in February giving DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. The board is made up of DeSantis appointees, including Bridget Ziegler, a proponent of his education policies; Ron Peri, who heads the Christian ministry the Gathering USA; and Michael Sasso, president of the Federalist Society’s Orlando chapter. The board has been working to invalidate an agreement between the Central Florida board that had been controlled by Disney and the company. This agreement gave Disney authority over its theme parks despite a new law that formed a new board controlled by the governor.

Previously Disney had pushed through an agreement with the Central Florida board that had been controlled by Disney. This agreement gave Disney authority over its theme parks despite a new law that formed a new board controlled by the governor . The Central Florida Tourism Oversight District Board of Supervisors, which was appointed by Governor Ron DeSantis to oversee Walt Disney Co.’s central Florida theme parks, has been working to invalidate this agreement.

https://www.nytimes.com/2023/04/19/business/ron-desantis-disney-world.html 

https://www.reuters.com/world/us/ron-desantis-takes-aim-disney-vows-void-florida-theme-park-development-agreement-2023-04-08/ 

https://www.cbc.ca/news/world/florida-desantis-disney-dispute-1.6800259 

COVID led to the biggest drop in births in 50 years. But not in every state

 

There is no debating the vast impacts the Covid outbreak had on the lives of all individuals, however one recent trend that has been observed was how birth rates were impacted during the pandemic. Researchers were finding that these trends were not necessarily results of the coronavirus disease but rather the social impacts that resulted from the 2 years of isolation. Throughout the pandemic, the American way of life was greatly altered economically, politically, and socially. While this was a common trend throughout the United States, some states saw larger changes while others did not depending on how each state reacted to the Covid outbreaks. They found that while states such as Montana and Utah’s birth rates increased, New York’s did not. Now this prompts scientists to discover why and conclude what causes this variation in birth rates.

While researchers began looking at variations in states, they started to look more at red or blue states and how they contribute to the birth trends. There is no denying that each state responded differently to the pandemic whether that is being more cautious and forceful when it comes to social distancing, or completely denying the existence of the disease at all. There were obvious patterns that the more red states, or conservative ones, were those that were less strict on enforcing social distancing therefore their fertility rates jumped. However, the states that were more harsh in enforcing social distancing and mask policies leaned liberal and their fertility rates dropped. Although some of these trends existed before Covid began, the patterns only strengthened throughout those years.

One reason that can be seen from these observations in addition to political affiliation is social and economic status. Individuals tend to keep in mind if they are financially stable or physically ready to take on a child and the changes they faced during covid economically created large adjustments in birth rates. The pandemic just intensified this as more and more people were being laid off or struggling economically making growing a family the last of their concerns. Because of the immense change that the pandemic caused in the livelihoods of individuals, birth rates were fluctuating depending on how that particular state behaved regarding Covid, creating a persisting trend that may be challenging to undo.

https://www.usatoday.com/story/news/health/2023/04/17/us-birth-during-covid-varied/11639988002/

https://www.usatoday.com/story/news/health/2023/03/07/how-many-people-born-day-global-national/11266988002/

'Live free and die?' The sad state of U.S. life expectancy

 

Scientists throughout the United States have been noticing declines in US life expectancy in the past couple of years but most attributed this drop to the results of the Covid pandemic. While various other countries who were hit hard by the virus bounced back and saw increases in life expectancy, the United States was not one of those. This is prompting researchers to study what it is about the way that we live that has been causing this decline that is not seen in other advanced countries. Other countries are seeing life expectancies around the age of 82 meanwhile the US is at approximately 76 years. What is causing this trend and is there anything that can be done to reverse these numbers?

Some noticeable differences we can see between the US and other countries are vastly different lifestyles. For many years, people heard that what made Americans so unhealthy was poor diets and habits. However, in recent years they have found that even Americans who eat their vegetables, exercise, and don’t participate in smoking are still likely to die at a younger age than in countries such as Cuba or Lebanon. What most scientists have found is that it is not just about living a healthy lifestyle but simply the effects of living in the US. Just living in America is shown to lead to a lower life expectancy suggesting that the issues present are not targeted at select groups of people but the country as a whole. Researchers were looking at a variety of systematic differences between the US and other countries whether that be health systems, poverty, environment, social issues, individual behavior, and more. One huge observation made was deaths before the age of 50 which included deaths due to drugs, murders, disease, and suicide many of which are large concerns for Americans in society today. Crimmins spotlights firearms and drugs being primary contributors to death rates which I believe is becoming a growing issue for people of all demographics in the United States.

One positive we can see is that once Americans reach the age of 75 they are more likely to live longer than those in other countries, although this is assuming we make it to that age. While many aspects of our society have failed us, the US tends to be better at monitoring and testing for cancer, cholesterol, and blood pressure making it difficult for health concerns to go unnoticed. While this is promising for Americans, the fact that our life expectancy is dropping cannot be ignored as it is primarily affecting newer generations of children, teens, and infants who were born into unfortunate conditions.

The National Library of Medicine found that despite the advanced technology we have, Americans are more prone to injuries and illnesses whether that be individuals in lower-income households or well-off individuals. Clearly this is not just an issue of physical health but the various social concerns that exist uniquely in America that need to be addressed in order to create promising change in current life expectancy trends. One of the solutions that Sawhney suggests is to make the American lifestyle similar to that of England or France with a focus on a more freeing way of life. In following the footsteps of other healthy countries, I believe the US can get mortality rates up to match other advanced countries and create a more hopeful future for upcoming generations.


https://www.npr.org/sections/health-shots/2023/03/25/1164819944/live-free-and-die-the-sad-state-of-u-s-life-expectancy

https://pubmed.ncbi.nlm.nih.gov/24006554/

https://data.worldbank.org/indicator/SP.DYN.LE00.IN?end=2020&most_recent_value_desc=false&start=1960&view=chart

Montana Passes Legislation To Ban TikTok

 

The state of Montana has become the first in the US to take effective action against the social media app TikTok. Recently, there has been a debate over the security concerns of TikTok, as it is owned by a Chinese technology company titled ByteDance. However, the company has stated that it does not share any data with the Government of China. This did not stop some federal lawmakers from calling for a nationwide ban on the use of TikTok.

In Montana, lawmakers voted 54-43 in the House, receiving final approval on the bill. However, one more step is needed for the bill to finally become legislation. Governor Greg Gianforte still needs to sign the bill. If signed, the bill will take effect in January 2024.

The bill aims to effectively ban TikTok from operating within the state of Montana and to prohibit app stores from offering downloads for the app. It primarily targets TikTok itself, with penalties for violating the law ranging up to $10,000 per violation per day directed towards the social media platform. In contrast, potential users of TikTok in Montana will not face any penalties.

The likely outcome of this bill is that Gov. Gianforte will sign it, as he had banned the use of TikTok from all state government devices in the past. However, TikTok is not going down lightly, with a legal fight expected. A spokesperson for the social media giant, Brooke Oberwetter, publicly stated, "We will continue to fight for TikTok users and creators in Montana, whose livelihoods and First Amendment rights are threatened by this egregious government overreach." This highlights the possibility of a federal court challenge from TikTok, should the bill be approved by the governor.

The Montana Government's move to ban TikTok is being viewed by many as a huge overstep, given that the app is already banned on all government devices in the state. This essentially eliminates the threat of China obtaining anything important to the state. Many people view the Montana Government's ban on TikTok as a threat to free speech and believe that the fear of China spying on our data is mostly fear-mongering, given the recent congressional hearing into the matter.

Lastly, while a nationwide ban on TikTok failed to materialize, Montana has made significant progress towards effectively banning the app within its borders. It remains to be seen whether other states will follow Montana's lead and take action against TikTok.

Sources:

https://apnews.com/article/tiktok-bytedance-shou-zi-chew-8d8a6a9694357040d484670b7f4833be

https://www.npr.org/2023/04/14/1170204627/montana-becomes-1st-state-to-approve-a-full-ban-of-tiktok 

https://www.cnn.com/2023/04/14/tech/montana-house-tiktok-ban/index.html

Multiple States Ban Gender Affirming Care for Youth

Indiana and Idaho have both recently signed bills to ban gender affirming care for minors. Banning transgender youths access to treatment has been a growing trend and Indiana and Idaho are the most recent to follow suit. Indiana’s ban states that physicians or practitioners who provide gender affirming care to minors will be subject to discipline by their regulatory board, and Idaho’s ban states that physicians or practitioners who provide gender affirming care could face a $5000 fine and a felony charge. 

Supporters of these bills argue that minors are too young to make permanent decisions regarding their body. But, people against the bill, like the ACLU (American Civil Liberties Union), who have sued Indiana for their recent bill, argue that gender affirming care is a constitutional right and harms trangender youth. 

Nebraska is also currently debating the Let them Grow Act, which also prohibits health care providers from performing gender altering procedures for those under 19. The act was introduced by Senator Kathleen Kauth, who claims that this act is “protecting kids.”

Nebraska has a unicameral legislature with a non-official 32-17. Democrats like Senator Machaela have been filibustering this bill, hoping to prevent it from being passed. National medical associations and transgender youth have also expressed how gender affirming care is necessary care. A 17 year old high school student, Alx Montgomery spoke out against the bill, expressing how his transition has had a huge impact on his happiness and confidence, and that the proposed bill would severely harm transgender youth.  

Sources:

https://www.nytimes.com/2023/03/30/us/nebraska-filibuster-transgender-bills.html

https://www.npr.org/2023/04/06/1168323019/the-governors-from-indiana-and-idaho-sign-bans-on-gender-affirming-care

https://www.cnn.com/2023/04/06/politics/gender-affirming-care-idaho-indiana/index.html

https://www.ketv.com/article/nebraska-legislature-begins-debate-let-them-grow-act/43377588#

Image source: https://apnews.com/article/transgender-health-mississippi-lgbtq-03a51aaf8307889125d264421240ccf4

Competing Abortion Pill Rulings

 Two recent rulings regarding abortion medication conflicts with each other. In one case, a Texas judge said that the approval of mifepristone, one of the drugs used to terminate a pregnancy, should be halted; however, the appeal is underway. In the other case, a judge ordered to keep the drug available in 17 states.

Both cases deal with the administrative law (the administration and regulation of federal and state government agencies) that controls how the U.S. Food and Drug Administration regulates mifepristone. Although the disputes did not connect to the question of whether there is a right to abortion, the Texas ruling included the idea that "embryos could have individual rights" and to consider this idea in other court rulings. 

People without resources to travel to states like California or New York for in-clinic abortions can be harmed by growing restrictions. These cases have been appealed to higher courts as the issue climbs back up to the Supreme Court ever since they have repealed Roe v. Wade.

Misoprostol and Mifepristone

https://abcnews.go.com/Health/wireStory/competing-abortion-pill-rulings-sow-broad-alarm-confusion-98452059

https://www.cnn.com/2023/04/08/politics/medication-abortion-texas-washington-fda/index.html

Leaked Pentagon Documents Reveal U.S. Spying on Russia's War in Ukraine

 NBC News have obtained more than 50 documents, many of which are labeled "Top Secret" that reveal U.S. spying on Russia's War Machine in Ukraine, as well as secret assessments of Ukraine's combat power and an intelligence gathering on South Korea and Israel, who are key allies. These are documents that first appeared in March, and an official confirmed that they are real but some could have been altered.

The open-source investigative group Bellingcat said the documents first appeared on Discord (social media platform), but it is unknown how they were leaked onto various social media platforms. Discord is cooperating with the law enforcement on the investigation. The documents are still circulating on social media, like Twitter, because of gray areas in their policies and weak enforcement of rules prohibiting the removal of materials. 

Diplomats are frustrated that such information were released publicly and U.S. allies are conducting their own damage assessments to see if their sources and methods have been compromised by the leak. Mykhailo Podolyak, the adviser to the head of the Office of the President of Ukraine has openly denied the authenticity of the documents, he claims they are "based on 'a large amount of fictitious information' disseminated by Russia." 

The leak of highly classified documents has revealed U.S. spying on both their allies and foes, which could have an impact on foreign relationships, not to mention this breach of national security that has lead the Pentagon to take steps into tightening the flow of important documents which "are normally available on any given day to hundreds of people across the government." 

Russian armored vehicles destroyed by the Ukrainian army in the village of Shevchenkove in Kyiv region.

https://www.nbcnews.com/politics/national-security/leaked-documents-show-us-spying-russia-war-ukraine-rcna78876

https://www.cnn.com/2023/04/09/politics/pentagon-leaked-documents-us-spying-allies-foes/index.html

https://www.nytimes.com/2023/04/08/technology/leaked-pentagon-documents-twitter-discord.html

Justice Clarence Thomas Accepts Luxury Gifts From GOP Superdonor

For the past twenty years, Justice Thomas has accepted numerous luxury vacations financed by a GOP Superdonor, Harlan Crow.  Who not only funded Justice's holidays but also attended the breaks and even hosted them on his yacht. Justice Thomas alleges that he informed his colleagues of his relationship with the well-known Republican Party donor and the gifts which he received from him. Additionally, the Justice claims that these supposed colleagues confirmed to him that he did not have to publicly disclose the gifts and vacations he received from Harlan Crow. However, this defense made by Justice Thomas has only raised more questions about his financial relationship except for this time they are evolving to question exactly who in the government would condone Justice's actions and why.

Recently, Justice Thomas and his wife received a trip to Indonesia with Crow in 2019 which would have reportedly cost Justice five hundred thousand dollars if he had financed the trip himself. According to USA Today, Thomas's "failure to disclose such gifts appeared to violate federal gift and travel disclosure requirements." While the Supreme Court law and policy are most definitely vague, there is an exemption allowed for financial disclosure reports regarding gifts from personal friends, however, it is important to acknowledge that the nature of this exemption is for "small personal gifts from longtime friends, not lavish gifts" as stated by multiple ethics experts including the former deputy assistant attorney general, Lisa Graves.

Justice Thomas is no stranger to controversy, with his wife coming into question regarding a leak in Supreme Court happenings in 2022, yet this most recent occurrence is creating a much larger problem regarding the American public's trust in the Supreme Court and the ethics of the judiciary. Many members of the democratic party, most notably Alexandria Ocasio-Cortez have called for Justice Thomas to be impeached, while others have called on Chief Justice John Roberts to investigate Thomas' unethical behaviors. Overall, the major issue with Justice's relations with Harlan Crow is whether these gifts have swayed the justices' decisions in the court and whether the Justice is being swayed by the agenda of his supporters or the facts of the cases brought before him.

Ultimately, the lack of ethics, the unwillingness to disclose the gifts on his financial statements, and the possible reality that others in the judiciary support Justice Thomas's actions make the need for reform in the Supreme Court all the more apparent. The Judicial branch is currently illuminating the dangerous nature of public interest groups, and the under-regulated nature of donations and financial support to members of our government. Thus, fostering a lack of trust amongst the American people for the federal government when it is a blatant possibility that our court's decisions could be swayed by financial donations and the personal interests of those making them.

https://www.washingtonpost.com/business/2023/04/06/harlan-crow-clarence-thomas-kkfaq/

https://www.usatoday.com/story/news/politics/2023/04/08/clarence-thomas-gifts-gop-billionaire/11624949002/

https://www.cnn.com/2023/04/09/politics/alexandria-ocasio-cortez-clarence-thomas/index.html

FDA approves of a Over The Counter Narcan Nasal Spray

On March 29, the FDA approved over the counter narcan nasal spray. It is a 4 milligram (mg) naloxone hydrochloride spray that consumers will be able to buy and use without a prescription, the first ever over the counter opioid overdose antidote. 

Narcan is an opioid antagonist, making it a type of medicine that can rapidly reverse an opioid overdose. According to the FDA, in the 12 months ending in October 2022, there have been 101,750 overdose deaths in the US. In 2021, opioids were involved in 91% of drug overdose deaths. FDAs approval of this over the counter medicine is significant, and could potentially pave the way for more life-saving over the counter medicines to be sold. 

The FDA first approved Narcan nasal spray in 2015 as a prescription drug. In February 2023, FDA Committee members voted unanimously to recommend it be approved for over-the-counter use. 

The price of the nasal spray has not yet been released, but overdose protection agencies caution that the price may be too high for accessibility. The National Harm Reduction Coalition has expressed the need for Naloxone to be free so that everyone can have access to the life saving medication. 

One way to possibly reduce the price of the nasal spray, which is expected to be around $47.50 a box, is placing a price ceiling on the product so retailers cant sell narcan for extremely high prices. But even though this could create more affordability for the product, it can also create a shortage, like how we learned in class.

Lastly, it is unclear when the naloxone nasal spray will be available to purchase everywhere without prescription. EmergentBioSolutions (narcan producers), say they hope to make the medication available to buy by late summer. Once Narcan medication can be sold everywhere with easy access, there could be a drastic reduction in the number of opioid-overdose related deaths

Sources:

https://nida.nih.gov/publications/drugfacts/naloxone 

https://www.fda.gov/news-events/press-announcements/fda-approves-first-over-counter-naloxone-nasal-spray 

https://www.npr.org/2023/03/29/1166750095/narcan-fda-approval-naloxone-over-the-counter-otc

https://www.nytimes.com/2023/03/28/health/narcan-otc-price.html 

https://www.mountainside-medical.com/products/narcan-nasal-spray-4mg-2-doses

The Controversial Investment Tactic: Short Selling - Risks, Rewards, and Recent Headlines

Short selling. Short selling? Yes! Short selling-- the strategy that's long been used by investors to profit from a decline in the price of a security( like stocks, bonds, and derivatives). This controversial investment tactic has been making headlines recently, as short sellers reportedly made a jaw-dropping 7 billion dollar profit amid the banking turmoil. This figure has sparked a debate weighing the potential risks-to-rewards of short selling.

Recently, short sellers made significant profits by betting against banks during economic uncertainty. With Credit Suisse, First Republic Bank, and Silicon Vally Bank practically covered in corkboard panels and a taped note scrawled in frantic pen, "Pardon our dust! We are currently getting help; we'll be fine!" while construction workers with a blue JP logo on their vest carry comically large dollar-sign bags barge through-- uncertain and tumultuous times are most definitely upon us.

Critics argue that it can fuel market volatility and exacerbate stock price declines. Short sellers may create a 'self-fulfilling prophecy' by betting against a stock,* potentially dooming the company to fail artificially. Additionally, short selling can be risky for individual investors (ah, it could affect you!), as it requires a deep understanding of market dynamics and risk management.

Pictured above: an example of a recent stock short. Uh oh. CEO Tom Siebel of C3.ai is getting pretty heated over a short by Kerrisdale Capital which caused his company's shares to plunge 38% in the past few days. Shorting is not pretty-- and not very nice. KC should give C3.ai an "I'm sorry I shorted your stock and caused your company to go into a downward spiral" apology card.

    Despite these concerns, short selling remains a popular investment strategy among institutional investors and hedge funds. In fact, proponents argue short sellers play a valuable role in the market by providing liquidity and exposing overvalued stocks. I mean, look at these numbers!

Pictured above: Every long-term investor's nightmare-- an extreme example of what a shorted stock returns in profits due to bets and short-term 'meme' investments. 

Unfortunately, as I subtly hinted before-- short selling is not a suitable investment strategy for everyone. If you're considering short-selling, you'll need quite a bit of cash to make a profit. There's a reason only hedge funds and big-name investors are investing in these shorts: they already have a million or a few to throw away, which, when turning even a tiny profit, brings back a couple of million dollars more back into their portfolio (if everything goes to plan, of course). 

Short selling is also a very complex fundamental investment strategy that can be lucrative and very, very risky, requiring knowledge and years of experience to indeed 'game' the market.

*one perfect example is CVNA (Carvana), trading at a short float above 60%. They trade now at around ten dollars per share, but when traders shorted the stock back in 2021, shares sold for roughly 380 bucks a pop. In later posts, I will delve further into "meme stocks" and strategies that have been causing a stir in the otherwise traditional market.

 

My special secret sauce (sources):

https://thehill.com/business/3905734-heres-why-the-too-big-to-fail-banks-bailed-out-first-republic/
https://www.cnbc.com/2023/04/06/short-sellers-made-7-billion-in-profit-from-banking-turmoil-ortex.html
https://corporatefinanceinstitute.com/resources/capital-markets/self-fulfilling-prophecy-examples/
https://www.investopedia.com/terms/s/shortselling.asp

https://markets.businessinsider.com/news/stocks/toronto-dominion-short-sellers-banking-crisis-financials-schwab-first-horizon-2023-4

https://finance.yahoo.com/news/c3-ai-ceo-tom-siebel-221757229.html

https://thumbor.forbes.com/thumbor/fit-in/900x510/https://www.forbes.com/advisor/wp-content/uploads/2022/05/short-selling.jpeg

(extra for the CVNA reference: https://fintel.io/ss/us/cvna)

UBS Takeover of Credit Suisse

Following the recent banking failure of SVB, a ripple effect has caused many other banking institutions to fall. But, with any bearish market comes the opportunity for others to buy in. A time of chaos opens opportunities for others - take UBS as an example. On March 19th UBS Group AG, the largest Swiss investment bank agreed to buy Credit Suisse in a historic brokered deal. 

The crumbling confidence of banks has recently spread among banks not just within the United States. UBS's purchase of its rival Swiss bank, Credit Suisse, aimed to prevent this lack of confidence from spreading. The UBS merger with Credit Suisse was announced to be done without the approval of shareholders and the overall size of Credit Suisse will be downsized. 

The fall of Credit Suisse would mark one of the most significant moments in the banking world. It offers yet another layer of damage seen with the sudden banking collapse of SVB. Despite the $50 billion in liquidity funding Credit Suisse received from SNB, shares remained to decline in price.

As highlighted above, the overall net income of Credit Suisse has not yielded a positive quarter since 9/30/21. A year later, reported on 9/30/22, Credit Suisse's net income was down more than $8 billion. 

The actions of some of the largest banks in the world accurately reflect the confidence they have in the banking system. Despite many people having a lack of confidence in banking institutions, the support highlighted by the biggest banks like UBS and JP Morgan demonstrates a level of resilience throughout the banking world. The collapse of SVB and the ripple among many other banks alike offer precautious of what could happen in the future. 

Sources:
https://www.macrotrends.net/stocks/charts/SIVB/svb-financial-group/net-income 
https://twitter.com/business/status/1637506674637385728
https://www.pbs.org/newshour/economy/11-big-banks-create-30-billion-rescue-package-for-first-republic
https://www.bloomberg.com/news/live-blog/2023-03-15/credit-suisse-in-crisis?
https://www.wsj.com/articles/ubs-offers-1-billion-to-take-over-credit-suisse-bfac51fa?

California’s Record Breaking Snowpack

 

While California has had a history of droughts 2023 is proving to be a record breaking year for quite the opposite reason. After all of the recent storms and all of the natural occurrences resulting, mudslides, power outages, and flooding, this record breaking snowfall has many people scared for the possibility of similar occurrences once the snowpack melts. While there has been an increase in demand for ski excursions, not all feelings surrounding the weather are as pleasant.

 

According to The New York Times, “The recent storms have led Gov. Gavin Newsom to lift some drought restrictions, but parts of California are still struggling to meet their water needs, particularly rural communities in the Central Valley that rely on groundwater wells. As the snow melts in the coming months, the valley might have to deal simultaneously with “very, very significant flooding”” Many Californians are still dealing with the struggles of drought crisis but the very real possibility of flooding in the future is causing the state into a panic due to the unsure nature of when and how quickly the snow will melt and where all the water will go.

This uptick in snow storms in California is quite startling as it has resulted in 2.7 million acre-feet of water. A considerably greater amount than the amount of water which normally flows into the state's bodies of water. 800,000 more acre-feet to be precise. This snowpack is California’s record greatest for the past forty years thus far, but is trending towards breaking the all-time record, in relation to data beginning in 1950. 

Due to the severity of the storms specialists have been unable to measure the moisture level of the soil in the Sierra’s and make reliable predictions about how much of the water from the snow will be absorbed by the soil and how much will runoff into the state's bodies of water. Overall, this snowpacking occurrence represents the larger problem of climate change and the fallout that is beginning to ensue. Ultimately any outcome of the melting snow will not be good, either the snow melts early and it is too cold for the majority of the water trickling out to be absorbed by the plants leading to minor flooding. Or, all of the lakes and rivers will be overrun by all of the water at once resulting in very extreme flooding.

 

The livelihoods of many Californians are being put at risk and the government’s lack of willingness to consider climate change as an imminent danger, in need of immediate action, is causing financial insecurity and putting people at risk of physical danger created by the fallout of these weather conditions. All the while corporations are benefiting from the increase in demand for related goods like flashlights, batteries, and umbrellas while people are struggling to anticipate their future needs given the unprecedented nature of these weather occurrences.

https://www.nytimes.com/2023/04/03/climate/california-storms-snowpack.html

https://www.wsj.com/articles/california-snowpack-is-among-the-highest-ever-recorded-7786d200

https://amp.cnn.com/cnn/2023/04/03/us/california-april-snow-survey-water-climate/index.html

Donald Trump Faces Criminal Charges

On Thursday night, March 30th, a jury in New York voted to indict former President Donald Trump. He is allegedly being charged with falsifying business records. This case stems from 2016 when the President made a payment to silence an adult star named Stormy Daniels, who claims to have had an affair with Trump in 2006. However, Trump has always denied this. During the 2016 presidential race, Daniels tried to sell her account of the scandal to the media, which could have hurt his campaign. But Trump had his lawyer, Michael Cohen, pay her $130,000 in "hush" money. This action of "hush" money isn't illegal, but it is the way the Trump corporation covered it up that was. Cohen needed to get his $130,000 reimbursed, so Trump paid him through his business and falsified the payment by saying it was for legal fees. 

CBS reports that: "Trump is being charged with falsifying business records in the first degree, a felony in New York State." But again, none of the charges are confirmed, as the indictment is sealed by New York's grand jury. It is just speculation, but Trump is expected to be in court on Tuesday, April 2nd, where the charges will be made clear to everyone. However, if charged with a felony, Trump could face up to four years in prison. This could have a serious impact on his chances of serving a second term as President in the future

Trump has been very vocal about the charges issued against him. He claims that he has done nothing wrong and believes he will not experience a fair trial in New York. He has voiced his opinion on the social media platform Truth Social: "They only brought this fake, corrupt, and disgraceful charge against me because I stand with the American people, and they know that I cannot get a fair trial in New York!" He believes that Democrats are using the justice system to target him and interfere with the 2024 presidential election. With the election coming soon, there is a lot riding on this case. It could completely change the election if Trump is found guilty. However, cases like this are usually slow, and it's more likely that the outcome of this case will come after the 2024 election.

https://www.cbsnews.com/news/trump-faces-felony-charge-source-says/

https://www.bbc.com/news/world-us-canada-65136636

https://www.npr.org/2023/03/31/1167447880/trump-indictment-next-steps