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HOW FINANCE IS HARD
Wheat is trading below where it was when the Ukraine war started.
Never fall for first order narratives.
{#FatTony made his fortune shorting oil after the First Gulf War.}
Wheat is trading below where it was when the Ukraine war started.
Never fall for first order narratives.
{#FatTony made his fortune shorting oil after the First Gulf War.}
2) The mechanism: overadjustment to shortages. $$ to produce substitutes elsewhere, plus adaptation away from expensive product.
1973 oil shock led to slow adaptation [speed limits, smaller cars] => 1980s glut; today things are much, much faster.
Now watch microchips.
1973 oil shock led to slow adaptation [speed limits, smaller cars] => 1980s glut; today things are much, much faster.
Now watch microchips.
