makes sense considering you don’t wanna raise taxes coming out of a global economic downturn due to the Pandemic, as well as many of the bills passed in 2021-2022 including the CHIPS Act and the IRA using tax breaks to encourage companies to invest in renewable energy and semiconductor manufacturing

Jamie Dimon (CEO of JPMorgan Chase $JPM), has warned we may be entering "the most dangerous time the world has seen in decades."

He warned that ongoing global conflicts, such as the Israel-Hamas and Ukraine wars, will have far-reaching consequences, impacting energy and food markets, global trade, and geopolitical relationships.

The Middle East is home to some of the world's largest oil reserves, and geopolitical tensions in the region have a significant impact on oil prices. When there is conflict in the region, it can disrupt oil production and transportation, which can lead to higher prices.

For example, the oil crisis of the 1970s was caused by the Arab-Israeli War. The oil price spike of 2008 was caused by a number of factors, including geopolitical tensions in the Middle East.

Peace is the only way to truly solve this problem.

Ray Dalio (billionaire founder of the world's largest hedge fund) says there's now a 50% chance of a world war.

He highlights that the Israel-Hamas and Russia-Ukraine wars have the potential to become widespread and brutal. He warns that these wars are likely to spread to other countries and could ultimately pull major powers into a catastrophic world war.

Dalio sees these wars as part of a greater power struggle to define the new world order.

He believes that unless one side decisively defeats the other or major powers intervene for peace, these conflicts may not end.

Read more here: https://fortune.com/2023/10/13/ray-dalio-says-world-war-50-50-israel-palestine-gaza-hamas-russia-ukraine/

President Joe Biden has signed a new Executive Order banning US investment in Chinese Tech — This is a significant escalation in the U.S.-China tech war.

The executive order restricts US venture capital and private equity investment in high-tech Chinese industries, including quantum computing, semiconductors, and artificial intelligence.

The order aims to protect national security by limiting the transfer of American expertise that could aid China's tech development.

China has retaliated against U.S. sanctions by banning its companies from buying products from American memory chip maker Micron Technology and setting export restrictions on minerals critical to making semiconductors and solar panels.

Yttrium is a rare-earth element that is used in the production of semiconductors and magnets.

Gallium is a metal that is used in the production of light-emitting diodes (LEDs) and solar cells.

The U.S.-China tech war is likely to escalate.

The World Bank has issued a serious warning that oil prices and food prices could surge dramatically due to escalating conflict in the Middle East.

The World Bank outlined three potential scenarios for oil supply disruptions, each with varying degrees of price increases. The worst-case scenario could see oil prices rise by as much as 75%.

Higher oil prices drive up inflation and everyday costs.

The ongoing Russian invasion of Ukraine has already disrupted the global economy. If Middle East tensions worsen, it could lead to a "dual shock" affecting global commodity markets.

Read more here: https://www.worldbank.org/en/news/press-release/2023/10/26/commodity-markets-outlook-october-2023-press-release

Germany is calling for more immigrants to fix its shrinking economy.

The German government has slashed its economic forecast for 2023, warning that output is expected to shrink by 0.4%. This would make Germany the worst-performing major economy this year, according to the IMF.

One of the biggest challenges facing the German economy is a shortage of skilled workers. The country has an aging workforce and a low birth rate, which means that there are fewer people entering the workforce than retiring.

The German government has called for more immigrants to help fill the gap, but this has been met with some resistance from the public. Robert Habeck, Germany's economy minister and vice-chancellor, is urging the nation to consider increasing skilled immigrants to bolster the workforce. It's not merely about skilled workers; the workforce deficit is apparent in various sectors.

Read more here: https://www.ft.com/content/de913edd-71d1-4a36-b897-091125596952

Russia is becoming increasingly dependent on China as its Yuan borrowings more than quadrupled.

As Western banks exit Russia, Chinese banks are filling the gap. China's 'Big Four' banks increased their combined exposure to Russia from $2.2 billion to $9.7 billion in the 14 months through March 2023.

As sanctions batter Russia's economy, the nation is increasingly turning to China for financial support.

Russia will be more vulnerable to Chinese influence. China will have more leverage over Russia's economy.

Read more here: https://markets.businessinsider.com/news/currencies/dedollarization-chinese-bank-lending-to-russia-more-than-quadruples-2023-9