Elderly man this morning at Walmart stared at the bread....

submitted by In-the-clouds from self.finance

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[–]Canbot 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

I think scarcity and high prices are not the same thing. No matter how bad inflation gets our ability to grow food won't dissappear. There will not be a shortage of food, it will just become a much bigger portion of people's expenses.

That just means they will have to cut back on other expenses.

[–]BootsAndBeards 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

High prices does mean scarcity, the supply cannot meet demand as effectively as it did before. Not that anyone is going hungry, like bread is also free if you're willing to stand in line at a church or homeless shelter in any developed country. Though poor countries might have people going hungry.

[–]In-the-clouds[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yeah, the law of supply and demand is in effect.

Many people are hungry, but they are mostly unreported by mainstream media. (Madagascar comes to mind.)

[–]Canbot 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Scarcity does cause prices to go up, but it is not the only factor in price. In this case prices are NOT going up due to any change in food availability.