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Friday, May 02, 2008

Scarcity Economics Taking Root in Global Markets

This is an important read if your crystal ball is at all foggy and you need to discern the future of the economy and your personal well-being.

Be sure to also view the MSN video on the column pages: "What Farmers are Saying."

Why we're stuck with insane prices

Forget supply and demand. We're now seeing scarcity economics at work -- what happens when buyers fear they won't get what they need at any price.

By Jim Jubak

If you think prices have become insane, you're right. But insanity rules markets for everything from oil to rice right now. In fact, insanity is the new "normal."

For example, why should oil sell for $119 a barrel, a whopping $55 a barrel, or 86%, higher than it did last April?

[snip] Read the entire column.

Get Ready ... Seriously -

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