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Australia's Tobacco Taxes Have Fueled A Massive Black Market For Cigarettes
Australia's Tobacco Taxes Have Fueled A Massive Black Market For Cigarettes
One lesson governments never seem to learn is that when taxes push the legal price of something high enough, a black market will eventually show up to collect the difference.
Australia is now getting a particularly ugly demonstration of that principle. After more than a decade of relentlessly increasing tobacco taxes in an effort to crush smoking, the country has created an enormous price gap between legal and illegal cigarettes, and organized crime has rushed in to fill it, according...
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Sep 4, 2026 / Tyler Durden
Grain That Feeds Half The World Set For Biggest Annual Gain Since 2003
Grain That Feeds Half The World Set For Biggest Annual Gain Since 2003
Chicago rice futures are on track for their largest annual gain since 2003 as the grain that feeds much of the world becomes increasingly expensive amid an intensifying El Niño and diesel-fuel and fertilizer supply disruptions stemming from turmoil in the Strait of Hormuz and the Russia-Ukraine war. Despite encouraging signals of a potential Black Sea peace deal, which sent wheat futures tumbling earlier today, the risk of a broader food crisis next year remains elevated.
Chicago...
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May 4, 2026 / Tyler Durden
Largest Viking Age Coin Hoard Ever Found In Norway Shocks Archaeologists
Largest Viking Age Coin Hoard Ever Found In Norway Shocks Archaeologists
Authored by Maria Mocerino,
Hailed as a “historic discovery,” metal detectorists led archaeologists to the largest Viking Age hoard of silver coins ever to be found in Norway, reflecting the Vikings’ extensive network and a pivotal turning point in Norway’s history.
The largest coin hoard in Norwegian history.Innlandet County Council
On April 10, metal detectorists Vegard Sørlie and Rune Sætre uncovered 19 silver coins that quickly turned into an astonishing treasure when archaeologists rushed to the site. The number of coins...
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May 1, 2026 / Tyler Durden
In Charts: Communist Cuba's Lights Dim Amid US Oil Blockade
In Charts: Communist Cuba's Lights Dim Amid US Oil Blockade
Authored by Sylvia Xu, Andrew Moran via The Epoch Times (emphasis ours),
Blackouts, shortages, fuel rationing, and empty streets now define daily life in Cuba.
People wait to fill their water containers during a nationwide blackout in Havana on March 22, 2026. Cuban authorities scrambled on March 22 to restore power to the island after the second nationwide blackout in less than a week, as the grid struggles due to an aging infrastructure and a U.S. oil blockade. Yamil Lage/AFP via Getty...
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