Hathaway Brief: May 2022
Not much to be happy about in the financial markets other than the Stock losses driving the long bond to over 3%. The Russian invasion of Ukraine has created a farming disruption which has caused food shortages. Most of the worlds chemical fertilizer is produced in Ukraine (it is not cow waste anymore, fertilizer is mostly chemicals now), which is adding to the shortages worldwide and causing the farming industry to demand higher prices. The oil industry has also been upended