The Shit to Know Thursdays

Alright man look, 

Some shit occurred this week. We sourced what matters. Below is the result. Enjoy.

Market Indices & Commodities

Fiscal Policy
Peter Schiff Slams Biden’s Proposed Taxes

Schiff appeared on OAN’s Real America with Dan Ball to discuss prospective new income taxes, which we wrote about in last week’s edition of Shit To Know Thursday.

Schiff, a prominent American stockbroker, said that even if the proposed tax were legal, it would still be an awful policy. He also said that it would complicate the already complicated tax system. He even went so far as to say it would be an ‘economic disaster’.

In case you didn’t read last week’s edition of Shit To Know Thursday, Biden basically wants to raise capital gains tax to up to 44.6%. (He’s nuts I know.)

Biden has also already raised corporate tax since coming to power, and were he to increase these further, Schiff claims that this would burden the average American the most.

It’s good to see that this prominent economist thinks these taxes are doomed to fail, so let’s hope they don’t get implemented.

Industry  
European Car Manufactures Struggling With Demand

News came out on Wednesday that European car manufacturers are facing ‘falling demand’. In Q1 of this year, 2 top car manufacturers faced a downturn due to reduced demand in both the Chinese and domestic markets.

How did this affect the markets? Well, shares in companies like Mercedes, VW and Stellantis were all lower this week.

The EV industry has also been struggling recently, which is not good as a lot of these companies’ investments have been put into electric cars. Higher interest rates globally have also contributed to lower demand for cars in general.

Politics
Top MEP Warns Europe Risks Becoming ‘A Second Arabia Or Africa’

An Austrian MEP (Member of the European Parliament) Harald Vilimsky has warned that Europe is at risk of turning into ‘a second Arabia or Africa’ due to immigration.

He stated that the volume of migrants entering European countries created security problems and punished the native people.

He made these controversial comments during a speech at CPAC Hungary.

It’s quite a thing to say, but questions definitely have to be asked about Europe’s insanely liberal immigration strategies.

Feature
UCLA Goes To Shit

All hell has broken loose at UCLA (University of California, Los Angeles), as anti-Israel protestors have started fighting the police.

Multiple different law enforcement agencies, including the LAPD and California Highway Patrol have rocked up to the university in full on riot gear and surrounded the anti-Israel encampment on campus.

This is just embarrassing. How fucking childish. Some immature kids think they’re gonna change the foreign policy of the USA? Fucking retards.

Legal
2nd Boeing-Linked Whistleblower Dies

A whistleblower at Spirit AeroSystems, a Boeing supplier died on Tuesday morning. Supposedly, following a struggle with a ‘sudden, fast-spreading infection’. Whatever the fuck that means.

Joshua Dean, a 45-year-old former mechanical engineer and quality auditor from Kansas accused the Spirit leadership of ignoring manufacturing defects on the Boeing 737 Max. When he brought this up with management, he claimed that nothing was done about it.

This led to Dean filing a safety complaint with the FAA. He then said that Spirit had used him as a scapegoat while they lied to the agency about the defects.

It’s difficult to know who to believe here, but this is now the 2nd time this has happened. I’m starting to get pretty damn suspicious, that’s for sure.

Politics
China Humiliates Blinken

It is rumoured that a Chinese official didn’t even show up at Beijing airport to wave off Secretary of State Antony Blinken. Furthermore, a mere low-level official was sent to greet Blinken when he arrived in Shanghai on Wednesday.

Blinken was in China to discuss some disagreements Washington and Beijing have had with one another. What did he accomplish? Fuck all (hardly surprising.)

Why does this matter? China are trying to power play the US by belittling Blinken. I mean, we know he’s useless, but now the Chinese government is just blatantly disrespecting us. What sons of bitches.

Thank you 
That’s all Folks

Nearly there…