Price gouging..

[Vercades]

is good?

I'm sure some of you guys might have seen John Stossel's report on well ALOT of things. One thing that stuck out to me was that he claimed price gouging is in actuallity a good thing for the world as a whole.

He had 3 nobel prize winners backing him up too. That really puts a twist on things you think???

I faded in and out among most of the tape but, I heard a story from kentucky he talked about. What happened was a man is selling generators at a much higher price during the disaster. He claims he did this because he planned on sending them to the disaster relief area.

But, when some official's caught wind of his overpriced merchandise they confiscated the goods and left it to sit in the police evidence room not to help aid the victims.

There was more to it but, I can't remember. Thoughts?

[oracle128]

Last I checked, there's no Nobel Prize for Economics (there is this (http://en.wikipedia.org/wiki/Bank_of_Sweden_Prize_in_Economic_Sciences_in_Memor y_of_Alfred_Nobel), but it's technically not a "Nobel Prize"). I don't know anything about John Stossel or his reports, but his credibility is already in doubt with me if he's using Nobel Prize winners to support something in a field in which they are not experts (unless of course they were winners of that prize, but simply incorrectly referred to as Nobel Prize winners). My question though is, why only three? Out of however many respected economics experts there are, why is the view only shared by three of them? What is the view of all the others?

Letterman had a prize winner on his show once - Robert Mundell (1999 winner of that very prize linked above). He was "singing" (speaking) lines from hit songs such as Black Eyed Peas' "My Humps".

My view on price gouging? What the police did with the confiscated goods is irrelevent. If it's an essential good/service (either constantly, or only in specific times of need, like the generators), then its price should be regulated. If it's non-essential, charge what you like, I'll just shop somewhere else.

[jmtjet]

Price gouging and looting go hand and hand in times of catastrophic events. Both are crimes. Both are punishable by fines and jail time. What a pity it is, that when people need help the most there's some that steal from stores or charge exorbant prices for essential goods. It's nothing but greed. John Stossel is just a news reporter looking for a story. He's not the first reporter to use controversy to sell his story.

[Nick Grana]

Price gouging aside, there are many learned people who advocate much higher gas prices. The reason being a quicker way to force us to come up with alternative means of drive. If gas hits $5/gal, many will be ready to drive dinky little electric or hybrid cars or even find/manufacture another source of cheaper fuel altogether. I don't like the idea personally. Rather just invade a rich oil producing country and take over oil control completely. Yeah, like we don't have a history of taking someone else's land for our own gain.:thrilled:

[renegade600]

I see nothing wrong with price gouging, its the law of supply and demand, the only reason why it is illegal is big business is not making any money from it. Its the little people thats doing most of it.

[Rainbow32]

Nick Grana
Rather just invade a rich oil producing country and take over oil control completely
Would that include Canada? They have the 2nd largest oil reserve behind Saudi Arabia.
http://en.wikipedia.org/wiki/Oil_reserves#World_oil_resources
Personally I could care less if we have to drill through a reindeer's head to get to the stuff.:D

[renegade600]

Nick Grana

Would that include Canada? They have the 2nd largest oil reserve behind Saudi Arabia.
http://en.wikipedia.org/wiki/Oil_reserves#World_oil_resources
Personally I could care less if we have to drill through a reindeer's head to get to the stuff.:D

US is afraid of Canada after the War of 1812, when the US armed forces turned tail and ran after getting wooped badly. :rotflmao:

[Vercades]

I see nothing wrong with price gouging, its the law of supply and demand, the only reason why it is illegal is big business is not making any money from it. Its the little people thats doing most of it.

Way I see it, it's need before greed. Someone here wants some gas to burn on a trip to no where or meet some friends. While others in a disaster area needs to be removed from the area and transported to a safe location along with vitals shipped to them. Supply and demand isn't really what you want in times of crisis. I think I just confused myself. :hmm:

[renegade600]

I think I just confused myself. :hmm:


:rotflmao::rotflmao:It wasn't confusing.:rotflmao::rotflmao:

[jmtjet]

Would that include Canada? They have the 2nd largest oil reserve behind Saudi Arabia.

Just read somewhere that Canada's oil sands holds more oil than the oil fields of Saudi Arabia. The trick is to get it out. The article said that new techniques are being developed to extract more of the oil from the sands. So as soon as Bush finds this out he'll be looking for weapons of mass destruction up north.

[Rainbow32]

US is afraid of Canada after the War of 1812
I thought it was the British we fought in that war. Canada wasn't an independent country yet.;)

So as soon as Bush finds this out he'll be looking for weapons of mass destruction up north
Yea I was hit in the head with a snowball once and it hurt.

[jililan]

I see nothing wrong with price gouging, its the law of supply and demand, the only reason why it is illegal is big business is not making any money from it. Its the little people thats doing most of it.

Big business isn't making money from it? I think you better check out Exxon's profit this year.
The 'trickle down' theory that every Republican government pushes in one form or another doesn't work. Ronald Reagan proved it doesn't work. You really think that if big business makes big money they are going to share it with others like that theory proposes? Everywhere I have ever worked the more the money the boss makes the more he keeps. Never shared his wealth with me.

[Nick Grana]

Canada never even passed through my head space.
War of 1812 (http://www.histori.ca/peace/page.do?pageID=336) doesn't mention anyone turning tail but the real losers being the native people. That was almost 200 years ago. Let go already.:happy:
Our country was less than 50 years old.:thrilled:
Supply and demand does not enter the equation when a disaster is on the line. It's against the law for good reasons. Price gougers should have their eyes gouged......out.

[Rainbow32]

Price gougers should have their eyes gouged......out
Yea that's what I like. Then they couldn't enjoy the things they buy from our hard work.
http://i63.photobucket.com/albums/h127/Rainbow1953/avatar34773_9.gif

[Nick Grana]

That was just a figmatism of my imagicanation.:D
You know I'd rather have a bottle in front of me rather than a frontal lobotomy. Wait. That's not me, but you, right?;)