depends on AI or computational derivatives. That would obviously be a massive blow to the supply of global chips, global computation. So that has downstream effects. The Longshoreman strike, here's an example of political shock that could have very profound effects if, you know, we've solved that problem in the short term, but we've got to go back to the drawing board in mid-January and this could all fall apart. I wonder how would a Trump administration deal with the Longshoreman versus a Kamala administration? That actually has a very big impact. If we feel that Trump is unlikely to be conciliatory with the Longshoreman strike, then we should be ready for a protracted period of a major shutdown of global trade, at least through the world's largest global importer and consumer. And so that could be a pretty substantial inflation shock. So there's a number of dynamics, I think, that could, especially if one or more of them converge and happen at the same time, could really change the (41/45)
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