Food Rationing?
A frightening event is taking place, something I've never experienced in my life. Food rationing.
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Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also anecdotal reports that some consumers are hoarding grain stocks. |
In the New York Sun article, some are speculating that businesses are flocking to retail stores since commercial prices have doubled.
It is a troubling scenario, because you don't really know how to react. Are people just overreacting and causing a panic? But what if I do nothing and there is a genuine shortage?
The article quotes an anonymous writer in the investment site Seeking Alpha:
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he recently bought 10 50-pound bags of rice at Costco. “I am concerned that when the news of rice shortage spreads, there will be panic buying and the shelves will be empty in no time. I do not intend to cause a panic, and I am not speculating on rice to make profit. I am just hoarding some for my own consumption,” he wrote. |
That is very disturbing.