Earlier quoted context omitted.
> I can't stress enough how bad it is for the world economy if the ports don't work. Not for the world economy, but for Chinese economy, as it's what US companies make the most of their money. What the current crisis shows the most is that just how close the US economy coming to a sever crisis, from well.... just missing the shipment of holiday toys from China. If China can inadvertently move US markets through just…
You're missing an important point here - if US customers cannot get their Xmas gifts on time, they won't buy them (nobody is going to order Xmas gifts if they will likely only arrive in January of later). Facebook has about 5 million advertisers, and a material percentage of them relies on the Xmas season for their financials to work out on an annual basis. Millions of US business have deposited 7+ figures each in in…
I think you have just affirmed what I have said.
USA is world's biggest, but an extremely fragile economy which is full of businesspeople too used to bailouts from a caring government. It's a bigger miracle it never seen major crisises from "encounter with reality" before.
> We truly are talking about a Lehman Brothers scale of a problem, and as Ryan pointed out, the only way to fix this is to unblock the ports. So if you're eventually going to have to do it, why not do it before millions of companies go out of business as opposed to only after that's happened?
I think it's essential in a capitalist market economy to let the market forces to do their job, and for Lehmans to pop from time to time. USA faces such a big crisis during every new "Lehman Brothers moment" exactly because it never lets its Lehmans fail.
Now, imagine China will embargo USA next time... Trade with USA is just a few percent of China's GDP today.
I did intern in BestBuy 10 years ago, and I know what insane portion of profit comes from around Xmass. I honestly want the US to really fail here, and fail hard, and have a Lehman moment again. It's vitally important for the US to finally have such crisis to turn the ship around, pun intended.
Or the next time, spoiled US kids will find out that there are way worse things in life than missing their new iphone 15 for christmas.