Blog Ipsa Loquitur

Published on under The News

Karl Smith, via Matthew Yglesias:

Yesterday, Toyota announced that they’re going to start exporting U.S.-built Camrys from Georgetown, Kentucky to South Korea.

As a side note, this is what a functioning market does when you have spent beyond your means or you’re not as rich as you thought you were.

You produce things that get to be consumed by other people. You don’t shutter factories and send your workers home to eat Cheetos and watch the Real Housewives.

I guess the real question is how big a tax break we need to give millionaires for them to consider buying Camrys.