Brazilian Police have stumbled into a cocaine workshop with robots packing 150,000 cocaine baggies per day. The era of cocaine deflation is upon Wall Street, as drug lords in Brazil are betting on automation to ramp up production.
Perhaps this ‘automation’ is why Brazil’s cocaine prices have suffered such a deflationary collapse…
…And it looks like the benefits of automation haven’t been limited to the market for cocaine…
…During Congressional testimony last month, Fed Chairwoman Janet Yellen named unlimited cell phoe data plans as one of several “special one-time transitory factors” that has weighed on inflation thiis year. We wonder: will this be Janet Yellen’s next ‘transtory’ reason for low inflation…?
This post originally appeared on Zero Hedge