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A comment on Bill Gross – Banking/finance “permanently damaged” [pdf]. Parent comment
a) business hires workers to make goods to satisfy demand
b) business overproduces to make sure they meet all the demand
c) business has 6-12 months of inventory, lays off workers
d) business can no longer sell inventory since workers don't have money, can't afford holding costs, dies
e) liquidator sells off glut of inventory, lowering prices and preventing new firms from entering the market
f) no new inventory is created since firms are dead
g) shortage arises, driving prices sky high
It's a bit like a wave oscillating in a container.
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a) business hires workers to make goods to satisfy demand
b) business overproduces to make sure they meet all the demand
c) business has 6-12 months of inventory, lays off workers
d) business can no longer sell inventory since workers don't have money, can't afford holding costs, dies
e) liquidator sells off glut of inventory, lowering prices and preventing new firms from entering the market
f) no new inventory is created since firms are dead
g) shortage arises, driving prices sky high
It's a bit like a wave oscillating in a container.