I love Pete.
He's a great guy, his writing sharp and interesting. (He also has one of the largest, most extensive collection of old books in American finance... name an old classic, and he'll pull it from his shelf—@Shugard can verify.)
Eggs are in the news (freakin, again!) apparently related to some avian influanza thing I was unaware of, but also—if we're being honest—some element of inflation.
Egg prices have surged in recent weeks, driven by a convergence of supply disruptions and cost pressures. The ongoing avian influenza outbreak has led to the culling of hundreds of millions of hens, drastically reducing supply and driving prices higher. Rising feed costs, higher energy prices, and elevated transportation expenses—fueled by broader inflationary trends—have further compounded production costs.
I found this observation interesting:
The short production cycle of eggs amplifies their responsiveness to economic shocks, as disruptions such as feed price hikes or disease outbreaks quickly translate into market prices.
ACTUALLY, inflation —hashtag elites vs plebs:
The frustration many Americans feel about surging egg prices reflects a growing sense of cognitive dissonance in the current economic narrative. While policymakers and headlines tout disinflation, the impact of four years of above-average inflation amid production problems culminating in escalating grocery costs—eggs near the top of that lengthening list—creates a stark disconnect.
remarkably devoid of any self-awareness, the same class-warfare politicians who spent the last four years insisting that no level of spending or accommodation were too much have now, several days after a new president’s inauguration, discovered a sudden and urgent concern for rising prices.
Guess the plebs could just eat cake... except, most cakes need eggs!
This, from our beloved Fed statisticians, also show that if you held bitcoin/denominated life in BTC, you'd have no price inflation in eggs:
Look at that non-volatility recently!