While production costs for potent "B.C. bud" remain at around $2,000 Canadian per pound, the value of the American dollar has fallen to about $1.10 Canadian due to record public debt and the rise of India and China. This means that the backpacks of cash that regularly cross the Canadian border to buy pot have declined in purchasing power and its no longer worth the risks and costs for many smugglers. This is bad news for Canadian growers, who ship about 90 percent of their crop to the United States, as well as for their customers in the United States, who now have to pay a lot more or buy elsewhere. No wonder rappers are now flashing euros.
Wednesday, November 14, 2007
How the weak dollar is like, killing your buzz, man
From Foreign Policy.com: