 Aloha. Thanks for your consideration of the views expressed in this ThinkTech commentary, which we are calling, Attacks in the Red Sea will lead to a new global inflation. The subject we will cover is what is happening in the Red Sea. Shippers are of course increasingly reluctant to take their ships through the Red Sea, and it's likely to stay that way for as long as the Houtis are attacking ships in that area. The problem is, if the Shippers can't ship through the Red Sea, and thus the Suez Canal, they will have to ship around Africa, which takes weeks longer and costs much more in terms of the staffing, operation, and fuel for their ships. If you didn't know it, a good percentage of international cargo goes through the Red Sea, so making all those Shippers sail around Africa will affect the time it will take to deliver that cargo, as well as the cost of delivering it. We should all be concerned. These delays will hurt consumers everywhere. The additional costs will undoubtedly be passed on to consumers everywhere. This in turn will increase the cost of goods everywhere. If this hasn't happened already, it will have to happen soon. There are many reasons to be concerned. For as long as the Houti blockade of the Red Sea lasts, there will be pressure on ship owners and operators, marine insurance carriers, the costs of shipping, and the cost of goods sold. Directly or indirectly, the whole world will be affected. We won't like what will happen. Europe and the US don't want to see a new and more damaging round of inflation, and no one else will either, especially for commodities and food, which have been so problematic for Africa ever since Putin locked up shipments of grain from Ukraine. There are some things we can do. We can and should increase the pressure on the Houtis and on Iran, which supplies them with weapons, direction, and training. That could include more aggressive military action, but would risk expanding the war. Perhaps we could find more creative steps to stop them, but it's not clear what those steps would be. The Houtis say they are supporting Hamas, and this might change once Hamas is defeated or a peace agreement is signed. Here's the takeaway. All things considered, something we'll have to give before we get world trade back to normal and avoid a destructive global inflation that would ultimately affect the global economy. Thanks for your consideration of the views expressed in this ThinkTech commentary, which we are calling Attacks in the Red Sea will lead to a new global inflation. Aloha.