The NYTimes followed up on the Goldman Sachs warehousing story a few times this week, and one of the articles had a picture of the warehouse in Detroit which identified it as a Foreign Trade Zone. I should have guessed! This means the price gouging is not only not regulated by the federal government, it is in fact shielded from, onerous things like customs duties.

By the way, there are many hundreds of FTZs around the country, and probably there is one right down the block from you. The Department of Commerce has a nifty webpage for you to search.

Comments

Popular posts from this blog

Can octopus heads be hazardous to your health?