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Gillian Butler's avatar

I just watched an Adam Ragusea video with my son, where he talks with his guest Sarah Taber about agriculture. They touched on the H-2A visa program for guest workers. Sarah told us that the brokers who bring the workers are essentially human traffickers. The workers have to work for the employer who hired them, no matter how bad the conditions, or else they lose their visa. The brokers have ties to the cartels and gangs in the home countries and have been known to threaten family members of the guest workers to keep them in line for the farmers. Interestingly, Adam and Sarah concluded that undocumented workers were in a better place because they could move on if conditions were bad.

Jack's avatar

I don't think people are realizing what may be coming to a gas station near them. Countries with strategic petroleum reserves have been drawing down to cushion the Hormuz blockage. That flexibility is almost gone - some of my newsletters suggest two to three weeks. Then the shortage will hit and demand will have to be reduced, probably not by the full 20% but by some relatively large number. Paul Krugman has estimated the short term elasticity of gasoline demand at about 0.15, i.e. not very elastic; this means that to achieve say a 10% drop in demand the price increase is going to be eye-watering.

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