News
China hoards over half the world's grain, pushing up global prices - Nikkei Asia
Testy ties with U.S. and Australia could be prodding China to boost food reserves
IPOs Had a Record 2021. Now They Are Selling Off Like Crazy. - WSJ
After a selloff in high-growth stocks during the waning days of the year, two-thirds of the companies that went public in the U.S. this year are now trading below their IPO prices.
More Serious Than I Thought
BofA may now be short 800 million oz of physical silver without a chance of ever being able to pay that silver back, except at much higher prices. If true, every dollar higher in the price of silver translates into an $800 million open (unrealized) loss. Every $10 move equates to an $8 billion loss. A hundred dollar move higher from here equates to an $80 billion loss.
The Importance of Price Signals
When price inflation occurs, it can be a very challenging time for everyone.
In that type of environment, prices of goods and services often go up faster than wages, and the public and policymakers wish to constrain them. Historically, when price inflation becomes rampant, policymakers tend to put in place price and wage controls to try to tame inflation, but those don’t have a good track record of working out well.
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