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Join Jim and Greg as they break down the collapse of Silicon Valley Bank, and how the financial institution bankrolling many of the nation’s top venture capital-backed firms went into crisis. They also throw a flag on President Biden’s contention that U.S. taxpayers will not be on the hook for bailing out the bank’s depositors. Finally, they shudder at the news of China brokering a restoration of relations between Saudi Arabia and Iran. Why is the restoring of relations a bad thing? In this case, there’s lots of reasons.
Coronavirus fears are driving the massive Wall Street sell-off, but turmoil in the oil market is also contributing to the instability. Even with demand falling due to the virus, Saudi Arabia is increasing production in order to drive prices down. Their goal is to drive American energy producers – particularly fracking shale producers out of business.
So how dire is the financial condition for U.S. energy producers and what is the Trump administration considering to help these companies?
American Petroleum Institute President Mike Sommers details what’s on the table and why he doesn’t want any federal interference in the energy market. He also explains what government action would do some good and why the energy industry is built for the long haul.
Jim Geraghty of National Review and Greg Corombos of Radio America are glad to see France, Germany, and the UK conclude that Iran attacked Saudi Arabia earlier this month and that there is no other plausible explanation. They also groan over the political circus about to begin as House Democrats appear to be moving en masse towards impeachment and even President Trump seems to like the idea of getting impeached because it would help him win re-election. And they discuss the dystopian world Bernie Sanders wants us all to live in as he proposes a ludicrous wealth tax to pay for the massive expansion of government that he envisions.
After another round of vicious third-party ads surrounding this Sunday’s Bears-Jets game, Jim Geraghty of National Review and Greg Corombos of Radio America are cautiously pleased to see registered Republicans showing up to vote early in bigger numbers than Democrats in several key states. They also shake their heads as Democrats duck and dodge questions about how they would handle the thousands of people heading to our southern border and demanding to enter instead of going through legal channels. And they shudder as more details emerge in the murder and disposal of Jamal Khashoggi by Saudi elements in Turkey.
Jim Geraghty of National Review and Greg Corombos of Radio America cautiously welcome polls showing Nevada Sen. Dean Heller winning his race and House Republicans holding a one-point edge in the 66 most competitive districts. They cringe at allegations the Saudis may have killed journalist Jamal Kashoggi and what it may mean for U.S.-Saudi relations. And they roll their eyes as Massachusetts Sen. Elizabeth Warren’s claims victory in the debate over her heritage because a DNA test showed she was anywhere from 1/64 to 1/1,024 American Indian.