Ukrainian President Volodymyr Zelenskiy met with U.S. lawmakers on Capitol Hill on Tuesday to make a last-ditch plea to keep military support flowing as he battles Russia, but faced a skeptical reception from some Republicans.
Some may seriously joke about that “Oh I don’t use X foodstuff, it doesn’t directly affect me”
Demand for food is quite inelastic. If folks who use sunflower seed oil can’t get any, they’ll flock to canola oil, peanut oil, or whatever other oil is available and drive it up in price.
Same deal with wheat and other crops.
Heck, we saw the same thing during the GPU shortage! People who would have bought mid or high end GPUs were priced out, so cards like the GTX 1030 we’re selling for $250!
Even the GTX 3050 and RX 6400 should have been bottom of the barrel $90 to $150 cards but ended up in the $250 to $300 range instead
Clearly the solution is to fund Ukraine extra hard so we can get like, 5x the sunflower oil as previously (in reference to Sunflower Granny)
Some may seriously joke about that “Oh I don’t use X foodstuff, it doesn’t directly affect me”
Demand for food is quite inelastic. If folks who use sunflower seed oil can’t get any, they’ll flock to canola oil, peanut oil, or whatever other oil is available and drive it up in price.
Same deal with wheat and other crops.
Heck, we saw the same thing during the GPU shortage! People who would have bought mid or high end GPUs were priced out, so cards like the GTX 1030 we’re selling for $250!
Even the GTX 3050 and RX 6400 should have been bottom of the barrel $90 to $150 cards but ended up in the $250 to $300 range instead