I know many of you don't think about the @WSJ and immediately think about farming expertise, but our agriculture-business coverage is always fascinating, including this @jacobbunge/@jessenewman13 piece on spilled milk.https://www.wsj.com/articles/farmers-deal-with-glut-of-food-as-coronavirus-closes-restaurants-11586439722 …
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Replying to @RichardRubinDC @WSJ and
This story ultimately leaves a giant mystery unaddressed. Sure, farmers might not be able to quickly shift to retail packaging but surely people aren't eating less because restaurants are closed.
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Replying to @CovfefeAnon @RichardRubinDC and
Stores limiting how much of a certain product is the biggest problem, i understand why they do it but by doing so you back up supplies. And once supplies are backed up you need to back up production.
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Replying to @chancehoekstra @CovfefeAnon and
How much a product you can buy at once*
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Too much stupid socialist propaganda - literally the only way to solve these problems is to let market prices adjust to a market clearing level which is short term painful but incentivizes the right adaptations
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