As the COVID-19 lockdowns continue and ‘meat processing’ plants across America are forced to shutdown after outbreaks amongst workers, DOUBLE DOWN asks Charles Hugh Smith about the outlook for inflation in food prices and possible shortages of meat supply in the supermarkets. If the problem is having only 50 slaughterhouses in America (processing 98% of the meat supply), is building 5,000 the answer? What is preventing that is regulations designed to maintain just those 50 abattoirs through barriers to entry for any competition. They then look at the superfluous demand in oil and the cheap credit that has created the excess supply and negative prices. Tune in to hear more on oil and its outlook in a world of lockdown.
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