So fortunately these kind of life-and-death decisions are far above my pay grade. My personal skin in the game is roughly: live in San Diego. So my opinion and

So fortunately these kind of life-and-death decisions are far above my pay grade. My personal skin in the game is roughly: live in San Diego. So my opinion and five bucks gets you a latte. There might come a point where a cautious, politically-acceptable, consensus-driven approach actually increases the risk that the big game starts. When the stakes are this high, if there is a realistic path to de-escalation that has to be the goal. But there may or may not be a realistic path to de-escalating the situation. Money may be a lever: 2T+ stimulus packages are becoming the norm in the US. That’s significantly more than the GDP of the RF. If a ton of aid gets the world to a better place, that’s most likely way EV+. Russian sovereign debt it yielding 20%+, maybe money can help. But if the internal dynamics of Putin’s situation make it impossible for him to back down? It’s probably better to do something decisive than to wait for the wrong sanction or just ambient pressure to kick off the big one anyways.