Venezuela chides Procter & Gamble over sanitary pad prices
Source: Reuters
http://news.yahoo.com/venezuela-chides-procter-gamble-over-sanitary-pad-prices-173712967--sector.html
CARACAS (Reuters) - Venezuela's socialist government has criticized U.S.-based Procter & Gamble for charging "criminal" prices for sanitary towels selling for a fifth of the monthly minimum wage.
The Cincinnati-based company has introduced a new brand to its Venezuelan market, Always Postparto, selling for 1,389 bolivars per pack.
That equates to $3.50 on the currency black market, or $220 at the government's strongest official rate.
"This is a criminal act against the Venezuelan people," Minister for Women Gladys Requena told reporters.
Read more: http://news.yahoo.com/venezuela-chides-procter-gamble-over-sanitary-pad-prices-173712967--sector.html
Amishman
(5,559 posts)hyper inflation is at the door.
COLGATE4
(14,732 posts)'Always Postparto', i.e. 'Always (for use) after giving birth'. And $3.50 seems to be pretty much in line with what products of that type sell for. But it's always great to be able to loose a "criminal act against the Venezuelan people" charge- I'm sure it makes DimSuccessor feel better.
Bacchus4.0
(6,837 posts)but given the chavista government, that possibility is non-existent. Its oil or nothing.
LanternWaste
(37,748 posts)"Its oil or nothing..."
Well, except for steel, aluminium, transport equipment, textiles, apparel, beverages, and foodstuffs, cement, tires, paper and fertilizer (15% of GDP). But hey... whatever we need to tell ourselves to reinforce our biases is more often than not, all we want to tell anyone anyway.
hack89
(39,171 posts)95% of their export earnings are from oil. They are not self sufficient and have to import nearly all basic necessities including food and medicine.
Bacchus4.0
(6,837 posts)Igel
(35,356 posts)Cheap energy at the source. There are a lot of petrochemical plants down south and east of Houston, right where there are oil refineries.
Taking hyperbole at face value ... not much good that can be said, esp. when it's easily understood hyperbole. It's sort of imputing ill will from the start and crowing over the guillotining of a straw man after a long struggle.
COLGATE4
(14,732 posts)to sell it for less that it cost to manufacture. Chavista Economics 101. So DimSuccessor stands (or falls) with the price of oil. Doesn't look promising for him.