The Schaftlein Report | Headline - Crypto Reckoning for FTX

Guest - Drew Allen

1) Sam Bankman Fried arrested in the Bahamas at request of U.S. government. Multiple charges filed.

1A) House holds hearings with newly appointed FTX CEO John Ray as efforts begin to understand how the fraud occurred.

1B) SEC says fraud took place for years

2) CPI Index up .1% in November and 7.1% year over year, below forecast of 7.3%.

2A) Core CPI excluding food and energy up .2% and 6% yearly.

2B) Interest rates fall after the news. 2 year note down to 4.2% and 10 year note at 3.5%

2C) Services makes up 73% of CPI and that number was still high.

2D) 50 basis point increase slated for this week, then 25 basis points in January and 25 basis points in February.
This will bring the terminal Fed Funds rate to 4.88% by February

3) Mexican police escort 1,000 migrants that illegally crossed into El Paso. 5,000 are in custody and the system is overwhelmed.

3A) 16K have crossed in 2 days. Border is wide open

4) Ukraine repels 11 Russian attacks as battles rage on.

5) Iran executes a 2nd protester who was a young student. Protests rage.

6) Appeals Court rules Catholic hospitals do not have to perform Trans operations

7) Sen. Manchin has "No intention" of changing parties, "at this time"

8) 58% of voters do NOT want Biden to run. No surprise as his approval is 42%.

8A) DeSantis leads Trump by 56-33 in USA Today/Suffolk University poll

9) Mississippi State football coach Mike Leach dies at 61 of heart disease.