Eggonomics

I started in the mail room. My associate was Henry. Henry was, to be tactful, a character. One of his few lucid riffs was the story of how he had come to give up chicken farming in Maine and come to the big city. Too much pressure.

Surely you jest.

Not at all, said Henry. The business--specifically the egg business, which he was in-- was a wild roller coaster ride. When prices rose, everyone would drive hard to increase production and rake in the profits. Since the life cycle of a layer is fairly short, within a few months all the fast-buck artists would have generated excess inventory. Prices crashed. Hens became meat. Farmer fortunes became toast. When all the layers were under cellophane, there would be fewer eggs and prices rose again. I watched egg prices for a few months after this and damned if he wasn't right.

Stop me if this reminds you of gasoline prices.

It's a comfort to know that the supply cycle of a vital commodity is ruled by the same principles (greed and lack of foresight) that govern henhouses.