05-04-2024, 12:05 PM
(05-04-2024, 09:21 AM)NATI BENGALS Wrote: Wow, I wasn’t even thinking of food. I was really only considering construction. But damn when you start to think about the impact on the food supply chain… shit
I'm pretty sure global food production has been increasing, and continued to increase, all along. Despite what you hear, the frequency and severity of weather events has not shown a statistically significant increase. There have always been losses from weather events, but actually higher CO2 and longer growing seasons has contributed to an INCREASE in food production.
That said, food prices are impacted by many other inflation factors, such as labor, fossil fuel costs (no only for harvesting and transportation costs, but fertilizer).
It takes time to get used to higher prices. Unless you have deflation, which most economists agree is bad for an economy built around growth, prices never go back down when inflation is structural rather than transient (i.e. a temporary disruption in the balance of supply & demand).
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