{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Lippincott Talk","title":"Lippincott Talk Episode 17: The Strait of Hormuz Doesn't Matter","html":"","width":"100%","height":180,"duration":1854,"description":"The pessimists constantly warn of “brittle” supply chains, our “vulnerable” economy, and fears of China’s industrial “dominance.”In reality, the American economy has never been more resilient than it is right now. The Strait of Hormuz closure has witnessed markets soaring to all time highs and the price of oil mildly spiking before declining. This is not what I expected. But three months into the Iran conflict, my view is clarifying: the American economy is very, very resilient. Producers and consumers are far more flexible than I anticipated. This doesn’t mean that the Iran War is a good idea. It is not. It does not mean that it hasn’t come at a price. It has. I merely want to make sense of the reality I see around me. The COVID lockdowns, Russo-Ukraine War, and now the Iran War have all led to doomers predicting economic collapse, but it hasn’t happened. My conclusion: it is simply the case that the productive forces in the American economy consistently outweigh the parasitic ones. Our lives would, of course, be far better, richer, and freer if there were no extractive forces at work. Ironically, however, our very productivity makes this hard to see.","thumbnail_url":"https://img.transistorcdn.com/2Az57egK2q4TWRUM9aw0pB5le_iPE4qeLVFR32s54ps/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8zN2I2/NGRlNzRiYjlkZWJk/MjU3ZTRmMTllMTA5/Y2FhOS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}