Jason Hall

And it's worth noting that Goldman did increase its credit loss provisions.

I think that's probably more due to the growth of the loan book than any concerns about credit quality.

But it's very much worth watching broadly as we start hearing from the Wells and the B of A's and the JP Morgan Chase's out there.

What is credit quality looking like?

That's a thing that can give us an idea how the consumer is doing.

Yeah, we think about the Middle East, we think about oil, and to a lesser extent, we think about natural gas, we think about transportation fuels, electricity production, heating, and that sort of thing.

But what we don't often think about, just as regular people on the street, is the massive infrastructure in petrochemical manufacturing that's happened in those markets.

So instead of just shipping oil somewhere else, and then that place gets to make value-added, higher-margin products, there's a massive amount of that that now takes place in the Middle East, and that's exactly what Rachel's talking about.

So it extends even beyond that.

And I want to talk about some of those opportunities.

You know, there is a real human toll that's happening here and we're not ignoring that.

I think I want to really be clear about that for people listening.

But this is a show about investing and we're kind of focusing on the investing aspect of it here.

So at the risk of sounding like a heartless capitalist,

If we do see the Strait remain limited in flow, because that's another important part of this, the US Navy is not blockading the Strait, they're blockading Iranian ports, to be very specific about what's happening.

So if we do see a limited flow continue for an extended period, companies like Chenier Energy could be beneficiaries.

other LNG exporters in North America and also places like Australia that have large natural gas resources.

Rachel, you were naming off a lot of those feedstocks.

And here's the thing, the reality is that prices are likely to be higher for those goods.

Global shipping markets will adapt to where the supply is located.