It was amazing to me when we first moved to Mexico how much the average person knew about exchange rates and inflation. Compare this to a class of American undergrads, where you have to explain in detail what inflation is and why it matters.
Even knowing this, I was still surprised at the fact that there is monetary policy graffiti in the state of Oaxaca, Mexico! David Harrison, reporter on monetary issues for the WSJ, tweeted this yesterday:
This roughly translates to “and they raised interest rates, making credit more expensive.” Impressive. So not only is the graffiti pretty high brow, they also get the economics right. Nicely done.
