{"id":64009,"date":"2022-11-02T11:10:46","date_gmt":"2022-11-02T16:10:46","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64009"},"modified":"2022-11-02T11:10:46","modified_gmt":"2022-11-02T16:10:46","slug":"central-banks-are-stealing-underpants","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64009","title":{"rendered":"Central banks are stealing underpants"},"content":{"rendered":"<aside id=\"slide-out\">\n<div class=\"search-mobile\"><\/div>\n<\/aside>\n<div id=\"wrapper\" class=\"boxed\">\n<div class=\"inner-wrapper\">\n<div id=\"main-content\" class=\"container\">\n<div class=\"post-cover-head\">\n<div class=\"single-post-thumb single-has-thumb\">\n<div class=\"post-cover-title\">\n<h3 class=\"name post-title entry-title\"><a href=\"https:\/\/consciousnessofsheep.co.uk\/2022\/10\/30\/central-banks-are-stealing-underpants\/\">Central banks are stealing underpants<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"content post-cover\">\n<article id=\"the-post\" class=\"post-listing post-8803 post type-post status-publish format-standard has-post-thumbnail  category-economy\">\n<div class=\"post-inner\">\n<div class=\"entry\">\n<p>Let\u2019s talk about supply shocks.\u00a0 Cast your mind back to the beginning of March 2020.\u00a0 Remember how everyone panic bought pasta and toilet paper?\u00a0 Except that it didn\u2019t really happen \u2013 at least on a large scale.\u00a0 What happened was, in their usual underhand way, the establishment media paid supermarket managers to hide the toilet rolls just out of shot while they photographed the empty shelves.\u00a0 And then there was that time when the photographer got one of his mates to load a shopping trolley with multi-packs of toilet rolls to give the impression that this was commonplace.\u00a0 But there\u00a0<em>were<\/em>\u00a0shortages.\u00a0 Not from panic buying, but simply from the additional demand as we all added one or two extra items to our weekly shop.\u00a0 In a just-in-time supply system, that is all it takes to create a shortage.<\/p>\n<p>There was more though.\u00a0 When lockdown began, there was a massive switch from what we might call the wholesale supply chain into the \u2013 usually much smaller \u2013 retail supply chain, as big consumers like schools, offices, factories, hotels and restaurants dramatically cut consumption even as a newly created army of homeworkers sought to increase theirs.\u00a0 For example, most eggs would previously have been consumed in the wholesale sector, where they are packaged in cartons of thirty or more.\u00a0 In the retail sector, eggs come mostly in half-dozen and dozen cartons.\u00a0 So that, at the beginning of lockdown there was an egg shortage because of the\u00a0<a href=\"https:\/\/consciousnessofsheep.co.uk\/2020\/03\/26\/liebigs-law-writ-large\/\">shortage of egg cartons<\/a>.\u00a0 Toilet paper was affected in a similar way as demand for the large, wholesale rolls used in offices and factories slumped even as demand for household size rolls rocketed.<\/p>\n<p>\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Central banks are stealing underpants Let\u2019s talk about supply shocks.\u00a0 Cast your mind back to the beginning of March 2020.\u00a0 Remember how everyone panic bought pasta and toilet paper?\u00a0 Except that it didn\u2019t really happen \u2013 at least on a large scale.\u00a0 What happened was, in their usual underhand way, the establishment media paid supermarket [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,30640,31360],"class_list":["post-64009","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-the-consciousness-of-sheep","tag-tim-watkins"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64009"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64009\/revisions"}],"predecessor-version":[{"id":64010,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64009\/revisions\/64010"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}