from Zero Hedge:
Over two years ago we highlighted just how out-of-touch with reality our central planners are when we exposed Bill Dudley’s infamous inflation comments. Now it seems, Argentina is taking over the mission of totalitarian supreme command (or government gone mad). While not publicly admitting they have a problem, despite the price of bread doubling to 20 Pesos in the last year alone, Bloomberg reports the government plans to apply a 1974 law that forces holders (on penalty of fines and prison) of wheat and flour suitable for bread-making to sell it in the domestic market. This entirely un-free-market response to the dreadful reality in the nation comes on the heels of the freezing of prices on 500 goods at Supermarkets back in February and, unbelievably, suggestions that citizens combat higher prices by “baking bread at home.” How long can a country plunge into a hyper-inflationary spiral before the people ‘coup-like-an-Egyptian’?
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