Thursday, March 25, 2010

The Most Depressing Black Market Ever

via Kevin Drum,

North Korea after a disastrous currency revaluation:
One North Korean woman interviewed said common laborers under the new system were making about 2,500 won per month, barely more than $1 at the new exchange rates prevailing on the black market. Cooking oil is a luxury, so unaffordable that people buy only a few grams at a time in small plastic bags.
I imagine it's not all fast cars and caviar for the Canola dealer.