U.S. Reels to a Meat Shortage and Prices Are Getting Weird
1–10 of 85 posts
Re: U.S. Reels to a Meat Shortage and Prices Are Getting Weird
#2This is what concerns as many people have acted like the economy only effects rich people, or any move that trades the economy for lives is inherently immoral.
Food falls under the economy, the economy isn't just the stock market or things rich people do rich people things in. The economy is the vast network stretching across the globe that works to supply goods and services in the places they are needed, when the economy starts shutting down so do a lot of things we need for daily life. All the government stimulus in the world isn't going to help anyone if there aren't goods to purchase.
Re: U.S. Reels to a Meat Shortage and Prices Are Getting Weird
#3This is what concerns as many people have acted like the economy only effects rich people, or any move that trades the economy for lives is inherently immoral. Food falls under the economy, the economy isn't just the stock market or things rich people do rich people things in. The economy is the vast network stretching across the globe that works to supply goods and services in the places they are needed, when the ec…
In fact, government stimulus will just cause hyperinflation as more money chases less goods and services.
Re: U.S. Reels to a Meat Shortage and Prices Are Getting Weird
#4This is what concerns as many people have acted like the economy only effects rich people, or any move that trades the economy for lives is inherently immoral. Food falls under the economy, the economy isn't just the stock market or things rich people do rich people things in. The economy is the vast network stretching across the globe that works to supply goods and services in the places they are needed, when the ec…
I agree totally, but I don't think that provides guidance here.
The meat plants have largely stayed open as essential businesses, only closing or even putting in controls when there's a number of employee cases that can no longer be ignored. So in this case, we're not looking at the trade-off between closing companies preemptively to save lives and economic output, but instead the trade-off between closing companies in response to severe sickness throughout the workforce vs. whatever economic could remain in these conditions.
I -do- think in a lot of jurisdictions, e.g. the SF Bay Area-- we are going too far. We've had slowly declining ICU occupancy for the past 3 weeks (a trailing indicator behind disease) and now even case counts are falling noticeably even though testing has improved. We should be -slightly- easing controls and seeing if we can keep the disease load constant or falling. Instead we won't even talk about it until May 4th, and I worry we'll either take too much of a step at once or make a tiny movement much later than we should have tried it.
Re: U.S. Reels to a Meat Shortage and Prices Are Getting Weird
#5This is what concerns as many people have acted like the economy only effects rich people, or any move that trades the economy for lives is inherently immoral. Food falls under the economy, the economy isn't just the stock market or things rich people do rich people things in. The economy is the vast network stretching across the globe that works to supply goods and services in the places they are needed, when the ec…
You're missing some key facts.
1. Meatpacking, and its supporting supply chains is an essential business. No state in the US has lifted a finger to shut it down.
2. These plant shutdowns are caused by people working in meatpacking plants getting sick, and being unable to work.
I don't understand how you can blame this on an economic shutdown. If anything, without the shutdown, the meatpackers would have gotten sick sooner, and in greater numbers.
Re: U.S. Reels to a Meat Shortage and Prices Are Getting Weird
#6This is what concerns as many people have acted like the economy only effects rich people, or any move that trades the economy for lives is inherently immoral. Food falls under the economy, the economy isn't just the stock market or things rich people do rich people things in. The economy is the vast network stretching across the globe that works to supply goods and services in the places they are needed, when the ec…
In fact, government stimulus will just cause hyperinflation as more money chases less goods and services.
Not clear. Demand has been pushed way down for things--- perhaps even more than production has been. Stimulus could improve the match of demand to production.
Re: U.S. Reels to a Meat Shortage and Prices Are Getting Weird
#7This is what concerns as many people have acted like the economy only effects rich people, or any move that trades the economy for lives is inherently immoral. Food falls under the economy, the economy isn't just the stock market or things rich people do rich people things in. The economy is the vast network stretching across the globe that works to supply goods and services in the places they are needed, when the ec…
Boy I just don't think that's a fair summary of the general view on "the economy."
The markets have cascading effect, even if individuals don't own equity. Unemployment is a huge factor in what people generally refer to as "the economy."
It's all intertwined and I think most people realize that.
Re: U.S. Reels to a Meat Shortage and Prices Are Getting Weird
#8This is what concerns as many people have acted like the economy only effects rich people, or any move that trades the economy for lives is inherently immoral. Food falls under the economy, the economy isn't just the stock market or things rich people do rich people things in. The economy is the vast network stretching across the globe that works to supply goods and services in the places they are needed, when the ec…
You're missing some key facts. 1. Meatpacking, and its supporting supply chains is an essential business. No state in the US has lifted a finger to shut it down. 2. These plant shutdowns are caused by people working in meatpacking plants getting sick, and being unable to work. I don't understand how you can blame this on an economic shutdown. If anything, without the shutdown, the meatpackers would have gotten sick s…
Nit on #2 --- usually these shutdowns are caused by too many people getting sick at the plant, and local authorities pressuring it to shut down, or the plant shutting down out of fear of liability to employees.
There has been slowed production due to inadequate workforce, but I don't think many plants have -closed- for this reason.
Re: U.S. Reels to a Meat Shortage and Prices Are Getting Weird
#9This is what concerns as many people have acted like the economy only effects rich people, or any move that trades the economy for lives is inherently immoral. Food falls under the economy, the economy isn't just the stock market or things rich people do rich people things in. The economy is the vast network stretching across the globe that works to supply goods and services in the places they are needed, when the ec…
In fact, government stimulus will just cause hyperinflation as more money chases less goods and services.
1. We would need to print quadrillions of dollars to get hyperinflation. Hyperinflation is a boogieman, unless this administration completely loses its mind.
2. Recessions cause the destruction of money (Due to defaults, and lack of new loans). This causes deflation. If the new money created by the printing press does not exceed these deflationary pressures, you won't even get inflation, let alone hyperinflation.
3. Deflation is horrible, and is much more dangerous than mild inflation.
4. The printed money is currently chasing investment assets (Mostly stocks), not flour and ground beef. Our previous experience with QE did not result in the prices of commodities inflating - only the prices of investments.
Inflation is not the problem.
Re: U.S. Reels to a Meat Shortage and Prices Are Getting Weird
#10Ramadan is starting just in time