When Pat Moynihan was an adviser to President Nixon, he persuaded the French government to break the "French connection" by which heroin came to America. Moynihan explained his achievement to Labor Secretary George Shultz, who said laconically: "Good."
Moynihan: "No, really, this is a big event."
Shultz, unfazed: "Good."
Moynihan: "I suppose that you think that so long as there is a demand for drugs, there will continue to be a supply."
Shultz: "You know, there's hope for you yet."
2 comments:
I don't mean to be a pest, but I saw a presentation on coke trafficing recently. It plotted plane range against enforcement, over time, and found now drop in the street price. Then when planes to Miami were sub-optimal, the planes to further up the coast started happening, and Mexico became an interesting trip. So, no serious change in the market value of coke. Various spikes, timed with various enforcement efforts. But, the market still rules.
This talk was given by an internationally known investor and banking fella. He recommended hedging by investing in Correctional Services Corporation or Wachenhut.
Go overto the right hand column and under punishment read the "Why It Fails" post. It ties into what you've written.
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