Jason,

Thank you for the thought provoking article. I wonder: what would a trade war with another country could actually LOOK LIKE in terms of dollars and cents, real impact on movement of labor? In our country, and per the situation in Japan described above, if the growth of labor is suppressed via political power, it then places a burden on general productivity growth to accelerate, i.e., some form of investment in productivity (people) within the nation. Wonder what effects a continued populist movement would have on capital flows in general? How does that affect treasuries?! Curious what thoughts are already out there.