You are not remembering that quite correctly. A Giffen good involves two products, where one is substantially more expensive than another. I.e. Rice and Meat. An increase in the cost of rice would force poor people with limited funds to buy more rice and less meat because that's all they can afford (to compensate for less meat, they buy more rice to gain enough calories).
But in this case, it's the "meat" (i.e. chicken and pork) which would increase in price, driving people to other alternatives where possible.
I agree. It's not like people have decided to go vegan because of these tariffs. People will still want to eat their chicken/pork, even if costs a bit more.
Not so suprising. I would expect China to be one of the world's largest consumers of oil. And that will likely only ramp up as the country continues to modernize.
While I wouldn't be surprised if the stat you mention is true, how would the Eurasia Group, whatever they are, know where the US Special Forces are conducting it's top secret missions? Can you include the link for this source?
While I agree, that's an urban legend about Bill Gates. Though he's admitted to many mistakes, he's always denied saying that and there is zero proof that he ever had. He also denies sending the email which you've likely received several times at some point, that is filled with typos and says that if you forward it on to friends, he'll send you money. I believe him on both counts.
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Very impressive, congrats!
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You are not remembering that quite correctly. A Giffen good involves two products, where one is substantially more expensive than another. I.e. Rice and Meat. An increase in the cost of rice would force poor people with limited funds to buy more rice and less meat because that's all they can afford (to compensate for less meat, they buy more rice to gain enough calories).
But in this case, it's the "meat" (i.e. chicken and pork) which would increase in price, driving people to other alternatives where possible.
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I agree. It's not like people have decided to go vegan because of these tariffs. People will still want to eat their chicken/pork, even if costs a bit more.
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Not so suprising. I would expect China to be one of the world's largest consumers of oil. And that will likely only ramp up as the country continues to modernize.
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Wow, thanks! I'm very impressed you took the time to respond. Much appreciated.
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While I wouldn't be surprised if the stat you mention is true, how would the Eurasia Group, whatever they are, know where the US Special Forces are conducting it's top secret missions? Can you include the link for this source?
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Good book selection.
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While I agree, that's an urban legend about Bill Gates. Though he's admitted to many mistakes, he's always denied saying that and there is zero proof that he ever had. He also denies sending the email which you've likely received several times at some point, that is filled with typos and says that if you forward it on to friends, he'll send you money. I believe him on both counts.