Is It Just Us, Or Does Europe Seem a Little Edgy Lately?

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The average retail price of a gram of cocaine in the US jumped 19% in 2005, rising to $103.7 from 87.3 the year before, according to a story which a source claims ran on Bloomberg yesterday.* Prices were far cheaper in most of Europe (except the Scandinavian countries), which makes us wonder whether the price jump has been caused by recent weakness of the dollar compared to the Euro. (Let’s call this the “Larry Kudlow Theory of Blast Prices.”) Another possibility is that increased US anti-terror measures are taking a toll on cross-border cocaine dealing (the “Dick Cheney Theory.”) Or maybe you folks are just powedering your noses too much and the increased consumption has sent prices skyrocketing (the "Al Gore Theory.")
The cheapest place to score? Belgium. Not coincidentally the headquarters of the European Union.
[*Note: we didn't actually see the story, so we can't link to it or even say for sure that it ever really ran.]
Update from reader "m": check out www.unodc.org for the data.
or google "UN World Drug Report". The data complied here is quite interesting, they should include it in commodities trading markets!

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