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.
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.
price caps will never work
They should see how Venezuela is doing with empty shelves