Wheat futures prices – May futures! – have risen 10%. Therefore:
Prices are rising because of consumer panic buying and threats to markets, including the closing of borders and labour shortages.
I have argued for rationing and price controls. The case will become overwhelming soon.
We’re not going to have another wheat harvest before May. So, what do we want to happen? We want people to stop consuming so much wheat. To stop being damn idiots panic buying. So, how do we do that? The price rises.
The system is working. So Snippa decides we need a new one?
Come on people, this was laid out in Wealth of Nations, 244 years ago. How long does it take for the Sage of Ely to grasp an idea?