Big Picture Update – SPX, NDX, ZB, ZN, ZT, GC, $DXY – I start today’s conversation with a discussion on the drop in the M2 money supply – move on to the collapse of Firs Republic Bank, the brewing banking crisis, and the brewing problems of the 800 lb. gorilla in the coal mine – (the canary passed on long ago!) — which of course is within Commercial Real Estate – I discuss the growing office vacancy problems within San Francisco which currently stand at 29.4%.