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Thoughts on "Price Gouging"?

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  • Aus_Schwaben

    First to know - Last to care!
    Rating - 100%
    5   0   0
    Jan 31, 2019
    3,760
    96
    Abilene, TX
    Houston auctioneer sued for alleged price gouging of 750,000 face masks

    https://www.foxnews.com/us/houston-auctioneer-sued-alleged-price-gouging-face-masks


    Now this is interesting......

    Can items bid up extraordinarily high and sold at auction be considered gouging? The shopkeepers were called out that day and the State AG investigated.

    Sent from my SM-G950U using Tapatalk
    On 9/11, at least two gas stations in Missouri jacked their prices to $10 a gallon. I think most of would agree that is price gouging.
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    billtool

    TGT Addict
    Rating - 100%
    4   0   0
    Nov 16, 2008
    4,094
    96
    The Wooldlands
    2 issues I have.

    The first is the term "life saving items". Nothing on the list is absolutely necessary for life to exist. Hand sanitizer wasn't even a thing 15 years ago as far as public consumption goes. Asprin and toilet paper aren't a necessity. Neither is ammo.

    Of course there are exceptions but few.

    The second thing is who gets to decide how much of a price raise is "gouging"? 10%, 20%, 100%? Where do we draw the line?

    My attitude is if you need it bad enough pay the new price if you haven't planned ahead enough to be prepared for a few weeks of shortages. Or be the first in line at the store. Or make friends with someone with connections.

    If you aren't in a financial position to be prepared that is your lack of preparation too.

    The free market will right itself. The companies will pay for their poor decisions in the long run if they are gouging. If an individual gets ahead of the curve good for them. That's Capitolism.

    Let it be.

    We don't need more government.

    The biggest problem is people forgive and forget. For personal issues that's a pretty good policy. In business it's a bad policy.

    "Screw me once, your fault. Screw me a second time and it's my fault."
    Goodbye China and good riddance. I'll never forgive. Or forget.
     
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