DML Morning Briefing March 16th

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Today is March 16. Below are some of the stories grabbing headlines this morning. I hope you share this briefing as doing so will make you the smartest person in the room. And don’t forget to download the free DML App from the Google Play or Apple App Store to remain connected to me throughout the day.

1. US video shows moment Russian fighter jet collides with US drone
FoxNews–U.S. officials have released video that shows a Russian Su-27 fighter jet colliding with the propeller of a U.S. MQ-9 Reaper drone.

The video release by the U.S. military’s European Command on Thursday came amid a race to secure the downed American aircraft.

Russian ships are at the MQ-9 drone crash site in the Black Sea, a U.S. defense official told Fox News Thursday. Russia sent ships to search the debris field almost immediately following the crash.

Ryan Lynch: Is the U.S. letting Russia get its hands on one of the most sophisticated drones on this planet? Yes. Are we going to try and do anything about it? No.

2. Credit Suisse’s $54 bln lifeline gives global banks tentative respite
Reuters–Credit Suisse (CSGN.S) sought to shore up its liquidity and restore investor confidence on Thursday by borrowing up to $54 billion from Switzerland’s central bank, after a slump in its shares had intensified fears of a global banking crisis.

Following the bank’s announcement, which came in the middle of the night in Zurich, Credit Suisse shares briefly bounced back from Wednesday’s 25% wipe out, but ceded some ground by late morning.

Credit Suisse is the first major global bank to be thrown an emergency lifeline since the 2008 financial crisis and its troubles have raised serious doubts over whether central banks will be able to sustain aggressive interest rate hikes.

Ryan Lynch: A bank borrows more money to inject back into the economy. What could go wrong? We keep kicking the can down the road.

3. Exclusive — Speaker McCarthy: ‘We’re Not Going to Pass a Clean Debt Ceiling,’ ‘We Have to Spend Less Money’
Breitbart–U.S. House Speaker Kevin McCarthy told Breitbart News in no uncertain terms that the House of Representatives this year will not pass a clean debt ceiling hike without spending cuts and that the House will not raise taxes.

“The one thing I firmly believe,” McCarthy said, is “We’re not going to raise taxes and we’re not going to pass a clean debt ceiling.”

“I told the president we have to spend less money,” McCarthy added.

McCarthy said that without serious reforms to discretionary spending the U.S. could be on the brink of serious financial calamity.

Ryan Lynch: What are your thoughts? Let me know down below.

4. Former BLM activist slams San Francisco reparations plan as white board member says she wants to adopt ALL 111 recommendations – from $5M lump sums for each black person to homes for just $1
DailyMail–A former Black Lives Matter activist who lived in the Bay Area has described San Francisco’s reparations proposal as ‘unrealistic’ and ‘disgusting’, saying it is a means by which to ‘indoctrinate people with victim mentality.’

San Francisco’s Board of Supervisors on Tuesday night held their first public hearing on a plan which included such proposals as a $5 million lump sum given to every eligible black person; a $1 house; and a $97,000-a-year guaranteed income for 250 years.

Hillary Ronen, a member of the board, told the hearing: ‘You have my 100 percent support and commitment to implementing, quite frankly, all 111 of these recommendations. They are all warranted.’

Ryan Lynch: Even if we wanted to, it is financially impossible. Let’s remember that California has over a 20 billion dollar debt deficit.

5. Virginia man arrested for shining laser pointer at police helicopter during pursuit
FoxNews–A Virginia man was arrested last week after shining a laser pointer at a police helicopter actively searching for a person running from authorities.

Fairfax County police said its helicopter, Fairfax 1, was helping Virginia State Police search for someone who ran from troopers on March 10 around 11:25 p.m.

While in pursuit, the helicopter’s crew saw someone pointing a laser at the chopper from an apartment complex.

Ryan Lynch: Don’t point lasers at people flying aircraft. How stupids. The individual probably voted for Biden.

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