You may wonder how prices in one market affect the prices in others. For example, you often hear that OPEC is reducing their oil production, oil prices are increasing, and that is going to affect the price of your airline ticket. Or, most recently, increases in tariffs are going to raise steel prices which are going to affect the price of cars. How does that work?
Let’s talk about butter… and croissants. If you’ve ever made a croissant, you know that there is a lot of butter that goes into it. But, let’s be honest, most people have not spent two days making a batch of croissants. More likely, you’ve eaten a croissant. What creates that beautiful flakiness? What’s that amazing flavor that you taste? Butter! Croissants are layered with butter. I’d go as far as to say that besides flour it is the KEY ingredient.
The French are known for the croissants. You can’t walk down a Parisian street without walking by a
French patisserie selling pain au chocolates (chocolate croissants… forgive me if that is not how you make a plural of the French spelling of "chocolat"). A few years ago, the French had a crisis. There was a shortage of butter in French grocery stores. Here is what happened: