Tim Miller

or materiel or planes and other tanks, et cetera, does seem like the kind of thing that you probably should have thought of before the war.

A lot of people have been paying very close attention to the Ukraine-Russia war.

So this was like a big takeaway that because of the new drone warfare now, the manner in which you have to protect your own equipment is different than it would have been 10, 20 years ago.

Apparently we didn't do that.

And then moving on to the economic impact, oil prices are up again this morning.

30-year treasuries are up to about 5%.

We're getting close to great recession territory in the bond markets.

This is not necessarily exactly related, but farm bankruptcies, there's a new report out this morning, doubled last year.

Certainly, that's going to be exacerbated by the increase in fertilizer prices that we're seeing now.

We had Meatball Ron DeSantis, governor of Florida.

I thought this was a notable signal.

He posted this yesterday.

Market seems to be pricing in further inflation.

Mortgage rates up in recent weeks.

And he shows a link to a picture with like stocks going down and bond prices going up.

You know, doesn't say Trump by name, not exactly a profile in courage, but pretty notable, I think, for DeSantis to be weighing in on the economic consequences of this.

Yeah, I don't know if he's quite savvy enough for that.

I don't know if he demonstrated a lot of savvy.

I think probably what he's eyeing is competence.

Can I run like... I think in his head, you think, Florida did great under me, and this was a disaster under Trump, and maybe I can run under that rubric.