I know the issue has come up before with regards to gun panic. As well as post hurricane.

I didn’t want to post in the Harvey thread as this is a political take on a situation that is very real for folks down there.

Saw a bunch of photos on Facebook people have been posting.

$8.42 for a gallon of gas...

$42.00 for a 24 pack of water...

Semper Paratus. Stock up while it's good so you have it when it's not.

That actually makes a lot of sense.

I'm always torn on gouging. I don't really like it, but I understand it. One thing I'm not torn on is that I don't think it should be illegal.

People who price-gouge during natural disasters show be horse-whipped, stripped naked and put into stocks in front of the local courthouse.

Three days in stocks should get the point across.

If they do it again after that, summary execution is warranted.

Cue the "It's just the law of supply and demand" crowd. They always show up to defend this kind of disgusting behavior.

price gouging should be treated like looting

deal with it once, and you won't have to deal with it again

Spot on brother!

quote:

Originally posted by parabellum:
People who price-gouge during natural disasters show be horse-whipped, stripped naked and put into stocks in front of the local courthouse.

Three days in stocks should get the point across.

If they do it again after that, summary execution is warranted.

Cue the "It's just the law of supply and demand" crowd. They always show up to defend this kind of disgusting behavior.

quote:

Originally posted by parabellum:
Three days in stocks should get the point across.

Especially if the water hasn't receded yet, and there are fire ants and gators in the water.

Texas has a law against it. Some have been fined in the past. Not enough. Crucifiction next to a major roadway at rush hour should have some deterrent effect.

It amazes me at how many others don't share the feelings of compassion to people in need,especially in something unprecedented like this storm. I noticed on many other forums/sites people praising these "do-gooders/capitalists" coming to the aid of those that lost everything and then try to take whatever is left from them. How can you charge someone $50-100.00 for a case of water, as is being reported, and be able to sleep at night? I wish I could afford to send more to these people. I have worked many bad storms for days on end, I am not looking for praise when I say this, I am just saying when you see people that have nothing left,how do take anymore away? They are destroyed physically and mentally. I was raised to help where you can and I try to live my life accordingly. I just don't get the mindset that it is good business to punish those in need.

I fail to understand exactly how the law of supply and demand comes into play in natural disaster situation. It's not like there is a manufacturing supply issue, it's the arrival of more supply that is cut off.

This is just plain old taking advantage of people in an emergency.

I'm with Para.

once the Governor says it's an emergency, they should freeze the prices

quote:

Originally posted by parabellum:
People who price-gouge during natural disasters show be horse-whipped, stripped naked and put into stocks in front of the local courthouse.

Three days in stocks should get the point across.

If they do it again after that, summary execution is warranted.

I could get behind that for the antifa crowd, too, now that you mention it. With full due proces, of course.

quote:

This is just plain old taking advantage of people in an emergency.

Which is exactly what the video explained made access to the goods possible. No greed. No monetary gain. Nobody bringing in the goods.

Do you know who else should suffer? Those who took no effort to prepare and now demand that they be taken care of or treated however they see fit.

Let's take those generators for example. Surely the local Home Depot and Lowe's are sold out. I'm sure they can get you one in 8 to 10 weeks.

No time to wait! Let's get on Amazon. Sorry. Shipping is disrupted in that area. Should probably be available for delivery in 8 to 10 weeks.

But Joe Schmo lives a state away, and they have 10 generators at his big box stores. He buys them up at regular retail pricing, rents a truck, fuels the truck, and spends his time driving into the disaster area. Selling them for the same price he paid for them is a loosing proposition. Even for him to break even he has to "gouge" to cover his overhead.

So they outlaw what he's doing. Instead of getting your generator today, maybe you'll see one in 8 to 10 weeks.

The "1 to a customer" rule seems like it be the best option. I hate price gouging as well. I just found the argument interesting. Similar to Über's surge pricing. Encourage more drivers to go on the clock to meet demand.

What Stossel (as well as Friedman) don't address is a seller raising the price knowing full well the item in question is so scarce, no one will be able to meet demand (so he'll take all he can get.

quote:

Originally posted by MikeinNC:
I'm with Para.

once the Governor says it's an emergency, they should freeze the prices

That's not how to get extra stuff applied to the problem.

Our ex-governor did that the first time the gas pipeline broke. So, gas stations couldn't spent the extra money to hire tanker truck to go buy gas from neighboring states who still had gas, as the old price would't cover those costs. So, no side-distribution into the state. Cue the lines and angst. Everyone topped off their tanks to avoid risking running out.

The governor was paying attention, though. Shortly thereafter the same pipeline broke a second time. This time he had figured out to let prices go, and while prices rose there were few problems with availability as stations trucked in the gas. Since availability stayed good, people were OK running normally and just tried to make what they had last till the pipeline came up. So...economics 101...consumers conserved, and producers brought more in.

Or, sure they could put their feet up, sell out of what they have at prices that would not replenish, and felt good about not 'gouging'. But then, what do people do who need gas?

Economics is all about incentives.

quote:

What Stossel (as well as Friedman) don't address is a seller raising the price knowing full well the item in question is so scarce, no one will be able to meet demand (so he'll take all he can get.

And perhaps that due to the fact that the seller is in the same boat. He can no longer obtain additional products to sell you for the same reason you can't obtain them.

Taking the argument to the extreme. Can I trailer my boat down there and charge people for rides (rescues)?

Officers who had responded during Andrew recovery in 92 arrested a couple of assholes who were selling a semi load of bags of ice for $20 a bag. People were paying that price without hesitation. As they were being hauled off they asked "what about our ice?". We'll check on it later, the officer said. It just disappeared before the officers returned. A terrible thing, evaporation.

General rule of thumb, you don't raise prices on essential commodities once an emergency is declared. It is a crime in Florida as it is in most states. In Florida, we determine price gouging by comparing the price to the price of those goods for 30 days prior to the declaration of an emergency. If the price is grossly increased, it is price gouging.

Much worse than price gouging are unlicensed home repair contractors who rip victims off wholesale following a disaster. People just want to get their homes and lives back to normal and a lot of those thieving bastards are after the easy pickings, you have to be careful.

quote:

Originally posted by joel9507:

quote:

Originally posted by MikeinNC:
I'm with Para.

once the Governor says it's an emergency, they should freeze the prices

That's not how to get extra stuff applied to the problem.

Our ex-governor did that the first time the gas pipeline broke. So, nobody spent the extra money to hire extra tankers to go buy gas from neighboring states not supplied by the broken pipeline. Cue the lines and angst. Everyone topped off their tanks to avoid risking running out.

The governor was paying attention, though. Shortly thereafter the same pipeline broke a second time. This time he had figured out to let prices go, and while prices rose there were few problems with availability as stations trucked in the gas. Since availability stayed good, people were OK running normally and just tried to make what they had last till the pipeline came up. So...economics 101...consumers conserved, and producers brought more in.

Or, sure they could put their feet up, sell out of what they have at prices that would not replenish, and felt good about not 'gouging'. But then, what do people do who need gas?

Economics is all about incentives.

yes, and what you described was not actual price gouging...the price did rise, but people were able to get into and out the area, unlike what is happening in Texas, or in the video.

And just because the governor freezes the prices, it does not restrict the flow of commerce...the weather determined that

I belong to the Semper Paratus crowd (Always Prepared-the USCG motto). If I didn't have enough foresight to prepare for the eventual hurricane and loss of power or flow of fuel or lack of food..then that is my bad.