It’s Time to End Government Handouts to Big Business By Michael LaFaive | National Review

"A 2018 study looked at similar deals across 35 states, concluding   that subsidizing large businesses had “starkly negative” effects. Not only do such handouts fail to create jobs, they hinder economic growth. It turns out that politicians, in their infinite wisdom, aren’t skilled at picking the economy’s winners and losers. But they are good at throwing taxpayer dollars down the drain."

State Farm Halts Home Insurance Sales In California by Tyler Durden | Zero Hedge

"California already has a notoriously high cost of living, ranking second only to Hawaii in the percentage of homeowners (29.7%) who spend more than 30% of their gross income on housing costs. The departure of the country's largest home insurance provider won't do anything to help the insurance component of those costs. "

New York, San Francisco Office Buildings Are Absolute Ghost Towns | Zero Hedge

 

Fourth Industrial Revolution slow to start in America by David P. Goldman | Asia Times

A key obstacle to 5G adoption in the United States is a cumbersome regulatory framework that makes it hard for private networks to gain access to wireless spectrum. “Spectrum supply is also a serious problem and part of why we haven't seen more commitment to onshore, non-consumer 5G,” a US official told Asia Times on background.

When US national investments succeed and fail by Henry Kressel SOURCE: Asia Times

"What eventually succeeded in building China’s low-cost, high-performance solar panel industry was a complete rethinking of the elements and methods to reduce costs by clever vertical integration. This required billions of dollars of investment to design and build such factories. The funding was there to do it in China. This scale of industry building was never in the program here, hence the difference. Having decided to build the solar panel industry, China’s investment program was comprehensive and ingenious."

Here We Go Again: Troubled California Bank PacWest Craters 60% On Report It Is Seeking Buyers Or Capital Raise by Tyler Durden SOURCE: Zero Hedge

 

Russia minted 22 new billionaires last year, even as the West slapped sanctions on the country to try to cripple it financially by Huileng Tan SOURCE: Business Insider

 

• Russia minted 22 new billionaires in 2022, per Forbes World's Billionaires List.
• There are now 105 Russian billionaires worth $474 billion collectively — up from $320 billion on-year.
• The fortunes of some Russian billionaires have been boosted by high commodity prices.

"We Scrambled, And Spoke With Well Over 100 Banks. Not One Will Provide Financing" By Eric Peters, CIO of One River Asset Management

"Credit started tightening six to nine months ago,” said the developer, a close friend, entrepreneur, with large residential projects across the nation. “It started with the money center banks,” he continued. “This pushed us to regional banks for our latest projects, but then SVB happened.” The market froze.

China’s 4th Industrial Revolution rattles US tech stocks by David P. Goldman SOURCE: Asia Times