Ryan Petersen

Like, okay, we're two cars headed straight at each other, China and the U.S. Now, there is a scenario where neither party swerves and they both die. Like, that's a possibility. But now evaluate it from both sides' point of view. China, the Chinese people, the Chinese leadership looks at it and go, hey, this is being done to us. by this foreign imperialist power.

Like, okay, we're two cars headed straight at each other, China and the U.S. Now, there is a scenario where neither party swerves and they both die. Like, that's a possibility. But now evaluate it from both sides' point of view. China, the Chinese people, the Chinese leadership looks at it and go, hey, this is being done to us. by this foreign imperialist power.

They'll use whatever language they use, but it's being done to them by the other party. On the U.S. side, all of us look at it and go, this is being done to us by our own leadership. We don't have the same resolve because of just that dynamic. Second, we have way more feedbacks back to our government to put pressure on those, both through elections, through markets, the bond market.

They'll use whatever language they use, but it's being done to them by the other party. On the U.S. side, all of us look at it and go, this is being done to us by our own leadership. We don't have the same resolve because of just that dynamic. Second, we have way more feedbacks back to our government to put pressure on those, both through elections, through markets, the bond market.

They'll use whatever language they use, but it's being done to them by the other party. On the U.S. side, all of us look at it and go, this is being done to us by our own leadership. We don't have the same resolve because of just that dynamic. Second, we have way more feedbacks back to our government to put pressure on those, both through elections, through markets, the bond market.

There's all kinds of things. American people are way softer. The Chinese have suffered much worse. They can bear this grin and bear it. They'll be fine. They've gone through worse in their history, in their recent history even. And so if you just look at those two dynamics, one of these sides is going to budge.

There's all kinds of things. American people are way softer. The Chinese have suffered much worse. They can bear this grin and bear it. They'll be fine. They've gone through worse in their history, in their recent history even. And so if you just look at those two dynamics, one of these sides is going to budge.

There's all kinds of things. American people are way softer. The Chinese have suffered much worse. They can bear this grin and bear it. They'll be fine. They've gone through worse in their history, in their recent history even. And so if you just look at those two dynamics, one of these sides is going to budge.

If neither side budges, I think it's catastrophic for both economies and ultimately for the people of both countries. But if one side is going to be a buzz, it seems like it has to be the United States. Iron willed as Donald Trump may be and may want everyone to think he is, I just think the forces are really strong here.

If neither side budges, I think it's catastrophic for both economies and ultimately for the people of both countries. But if one side is going to be a buzz, it seems like it has to be the United States. Iron willed as Donald Trump may be and may want everyone to think he is, I just think the forces are really strong here.

If neither side budges, I think it's catastrophic for both economies and ultimately for the people of both countries. But if one side is going to be a buzz, it seems like it has to be the United States. Iron willed as Donald Trump may be and may want everyone to think he is, I just think the forces are really strong here.

Yeah, now the question is, does Trump listen to Besson or somebody else? Who knows? I mean, Besson seems like a rational guy who's got a lot of experience in the markets and understands what it means when equities go down and bonds go down at the same time. Like, this isn't normal.

Yeah, now the question is, does Trump listen to Besson or somebody else? Who knows? I mean, Besson seems like a rational guy who's got a lot of experience in the markets and understands what it means when equities go down and bonds go down at the same time. Like, this isn't normal.

Yeah, now the question is, does Trump listen to Besson or somebody else? Who knows? I mean, Besson seems like a rational guy who's got a lot of experience in the markets and understands what it means when equities go down and bonds go down at the same time. Like, this isn't normal.

The U.S. consumer is still king, but that also revolves around the U.S. dollar being strong. It's come down a lot. I think it's down about 6% or so in the last few weeks since all this started. That degrades our consumer purchasing power and therefore companies will look for customers in other markets. But when it comes to supply chain, yeah, there will be a reconfiguration out of China.

The U.S. consumer is still king, but that also revolves around the U.S. dollar being strong. It's come down a lot. I think it's down about 6% or so in the last few weeks since all this started. That degrades our consumer purchasing power and therefore companies will look for customers in other markets. But when it comes to supply chain, yeah, there will be a reconfiguration out of China.

The U.S. consumer is still king, but that also revolves around the U.S. dollar being strong. It's come down a lot. I think it's down about 6% or so in the last few weeks since all this started. That degrades our consumer purchasing power and therefore companies will look for customers in other markets. But when it comes to supply chain, yeah, there will be a reconfiguration out of China.

That's an ongoing trend, by the way, for over a decade as the labor cost in China has just gotten higher and higher. Yeah, I remember 10 years ago at a shipping conference, a guy saying that they were shipping thousands of containers a year of used manufacturing equipment from China to Vietnam. to basically lift and shift factories down there because labor cost is so much cheaper.

That's an ongoing trend, by the way, for over a decade as the labor cost in China has just gotten higher and higher. Yeah, I remember 10 years ago at a shipping conference, a guy saying that they were shipping thousands of containers a year of used manufacturing equipment from China to Vietnam. to basically lift and shift factories down there because labor cost is so much cheaper.

That's an ongoing trend, by the way, for over a decade as the labor cost in China has just gotten higher and higher. Yeah, I remember 10 years ago at a shipping conference, a guy saying that they were shipping thousands of containers a year of used manufacturing equipment from China to Vietnam. to basically lift and shift factories down there because labor cost is so much cheaper.