OK normally I post serious geeky economic news, bordering on the depressing, but as your geekonomist du blog, I have to share this story that is a great reminder of how social trends affect economics.
Norway is running out of butter.
Why? Because of a low-carb diet trend and some bad weather. Oh and they could get more butter from Denmark, but Denmark apparently isn't selling because of high import duties.
So next time you see some weird or odd trend or fad, pause for a moment, don't laugh, and ask yourself just what it's real-life economic impacts may be. The iPad may be cool, Skyrim may be awesome, but there's also a trend effect there.
Also, Norway Butter Crisis is an awesome name for a band or an MMO guild.