Shownotes
This week, our boys are on the trail of the continuing fallout from SVB.
With Credit Suisse the next domino in what is looking increasingly like a chain, Philip Pilkington has been doing some digging on system liquidity, and his findings are hair-raising. This, it would seem, is already the biggest run since 1980.
And with a new suite of consumer-facing digital banking products that make removing your money a few clicks, are we about to face runs of a speed and scale previous eras couldn't match?
In France, Jupiter Himself is heading to Hades. Macron's dictatorial pension reforms are being forged through a haze of teargas. But are these national riots a uniquely French event? Or are they just the harbinger of what's to come for Europe, as the cost of living crisis becomes maddening?
Finally, in Israel, Benjamin Netanyahu's knack for political survival is being tested to the limits by huge protests over his judicial reforms. With the State Department seemingly coming down on the side of the protesters - Andrew Collingwood wonders whether the US's increasingly 'ethical' foreign policy in danger of alienating its greatest Middle East ally.