There's just tremendous demand from Chinese individuals for assets to invest in. And the assets they would be most interested in would be foreign currency-denominated, and not just the dollar.

We can make more stuff and that can add to overall economic activity.

If the U.S. economy slows down, U.S. demand for domestic goods will slow down. The tension between slower overall growth and increased need for exporters will result in more companies asking for protection.

It's hard to unwind protectionism.

There's no question that industries that are purchasing steel are benefiting. But unlike industries that are hurt, consumers will never organize.

If you drink enough to blackout then you probably regret it when you wake up because more than likely you looked liked an idiot or did something dumb.