Opening Address

摘要

1. Starving the supply chain turns out to have unintended consequences. 1.1 Already there. 2. Further production snafus. 2.1 Sure. 3. Trade wars, tariffs, retaliatory tariffs, Brexit, general chaos, and the new in-Vogue US Sinophobia. 3.1 Be afraid. 4. General economic downturn. 4.1 Always possible, but traffic seems to have a mind of its own. 5. Interest rates. 5.1 Medium risk, but long term trend looks good. 6. Oil. 6.1 No longer as big a problem as it once was.