Skip to comments.Inflation In Russia Is So Crazy...Price Controls On 'Essential Food Products'
Posted on 02/03/2015 6:55:42 AM PST by blam
Feburary 3, 2015
Food prices are out of control in Russia.
So now, Russian officials are even thinking about putting a price cap on "essential food products," reports the Moscow Times.
"We will see how to efficiently place [the restrictions] into law," the deputy prime minister Arkady Dvorkovich said.
He also added that the government may give "the state competition watchdog more power in enforcing existing retail market regulations," reports the Moscow Times.
What exactly counts as an "essential food product" is unclear at the moment.
(Excerpt) Read more at businessinsider.com ...
Price controls don’t work and lead to shortages.
Translation:Watermelon!?!? No, don't need it. Somehow, we'll survive without it. #watermelon #goodpleasure #thepricesarebiting #blagoveshenk #blg #blaga #28region #28rus #blg
2360 rubles = $35.5 dollars
381.60 rubles per kilogram = $5.72 for 2.2 lbs
Price controls are a black markets best friend.
Russia is the new “Planet Algon.”
Voice Over (John Cleese): This is the planet Algon, fifth world in the system of Aldebaran, the Red Giant in the constellation of Sagittarius. Here an ordinary cup of drinking chocolate costs four million pounds, an immersion heater for the hot-water tank costs over six billion pounds, and a pair of split-crotch panties would be almost unobtainable. (cut to a budget-day-type graphic, with a picture of the product and the price alongside) A simple rear window de-misting device for an 1100 costs eight thousand million billion pounds and a new element for an electric kettle like this (picture of electric kettle) would cost as much as the entire gross national product of the United States of America from 1770 to the year 2000, (graphic of American GNP) and even then they wouldn’t be able to afford the small fixing ring which attaches it to the kettle.
With price controls, wage controls can not be too far behind!
There is a choice. Food is too expensive to buy and pay rent, too, or it is price controlled and unavailable. Then there is the black market which will burgeon. By clamping down controls the government loses control.
“essential food product” = vodka
You WOULD see a revolution then.
I guess those Soviet-era cookbooks will soon be dusted off.
Yup. I was wage controlled by the Nixon administration way-back-when.
(The way around it was to get promoted to a higher position)
So the Ukraine based Russian sanctions are working? The people will say to Putin “get out of Ukraine?”
price caps will never work
They should see how Venezuela is doing with empty shelves
communism is back, baybay
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