I think that's understood as a policy issue in China. I don't think it's understood as a policy issue in the United States.

It looks like it's the last call for Mexico.

The demand shock from India and China could turn into a supply shock because the reserve situation is so tight. Plus the geopolitical risks.

I'd rather see the state work with all employers to see if they can come up with incentives to spread the risk among a broader pool. This is a Band-Aid, arbitrary, firm-specific solution to one of the most important policy problems of the United States.

I'm a historian, and that freaks me out.

Another thing that freaks me out is time. Time is like a book. You have a beginning, a middle and an end. It's just a cycle.