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Consumers face coronavirus price-gouging
As fears over the coronavirus grow, people are frantically buying up supplies and leaving store shelves empty. Prices are also sky-rocketing online as demand grows, such as two large bottles of Purell hand sanitizer on sale for nearly $300 on Amazon. The same size normally sells for about $9 a bottle. An Amazon spokesperson says the company does not allow price gouging and it has "recently blocked or removed tens of thousands of offers." Anna Werner reports from a pharmacy in Manhattan on how coronavirus price gouging is affecting consumers.
How coronavirus price-gouging is hurting consumers
Have you experienced price gouging? I've heard several people say that they have. Since I don't do much shopping, I can't speak to any personal experiences - yet.
Here's the issue with price gauging. If you don't allow prices to fluctuate with the market, the result is there is no product.
When demand goes up, the cost goes up, which results in there being an incentive to bring products to market.
If you deny that system, then the result is there simply is not product.
I can think of dozens of examples of this. After Hurricane Sandy, the mayor of New York sent out police to stop gas stations that were charging a higher price for gasoline.
The result after that, was that gas stations sold out of gas, and people simply.... didn't have any gas for their cars.
Before that, with higher prices, the gas stations were willing to pay gas suppliers a higher fee, to get gasoline shipped into the hurricane zone, which then allowed them to sell to customers, albeit at a higher price.
But with the government sending in police to shut down gas stations engaged in this, the result was no one was willing to pay a higher price for gas, so gas simply didn't show up, the gas stations ran out of gas, and everyone couldn't fill up their cars.
Similarly after Katrina, a hardware store owner contacted private trucking firms, to pick up gas generators, and truck them into the hurricane zone to his store. Of course doing that is horribly expensive, so the store owner sold the generators at a much higher price.... now interestingly, even at the higher price, he lost money on every generator sold.
Nevertheless, he was attacked and destroyed in the media for price gauging, and never had another generator trucked into New Orleans. He lamented that all the other hardware stores were not attacked for price gauging, even though all of them had no generators at all. And of course he closed his store, and provided no generators after that either.
Now as it relates specifically to this situation, I read a post from someone complaining about price gauging. They went to walmart or some other store, and found absolutely nothing. They went to a small independent shop, and found the shelves were full... but the prices were higher.
See, walmart and the other big stores, know that if they provide product at a higher price, that people will scream about gauging. And you know this is true.
So instead, when the product runs out... it just runs out. That's what you want. You'd rather have no product, than a product at higher price. So... no product.
The smaller shops are less likely to be mentioned on that national news, so they raise prices, which allows them to pay for more product, and thus they have product.
When you prevent product prices from adjusting, you result in Venezuela results. Price controls always.... ALWAYS result in shortage.
There's a reason why you can't even find coffee, in a country in the very center of a coffee bean growing region. Price controls.
So whether it is price controls on gas or power generators in a hurricane zone, or price controls on food in Venezuela, or if you control the price of hand sanitizer in the name of "price gouging", the result will always be shortages.
This is a definite crisis where socialism should override capitalism!
Price freezes are pure economic idiocy, no matter what the circumstances.Consumers face coronavirus price-gouging
As fears over the coronavirus grow, people are frantically buying up supplies and leaving store shelves empty. Prices are also sky-rocketing online as demand grows, such as two large bottles of Purell hand sanitizer on sale for nearly $300 on Amazon. The same size normally sells for about $9 a bottle. An Amazon spokesperson says the company does not allow price gouging and it has "recently blocked or removed tens of thousands of offers." Anna Werner reports from a pharmacy in Manhattan on how coronavirus price gouging is affecting consumers.
How coronavirus price-gouging is hurting consumers
Have you experienced price gouging? I've heard several people say that they have. Since I don't do much shopping, I can't speak to any personal experiences - yet.
Why wouldn't Trump freeze prices to prevent gouging?
Why wouldn't Trump freeze prices to prevent gouging?
It's unconstitutional.
It's stupid.
Is it unconstitutional?
Do you not remember this... “I am today ordering a freeze on all prices and wages throughout the United States.”
Aug. 15, 1971
Nixon
Forgive me if I'm wrong but isn't the POS in our WH supposed to be the president of ALL Americans?You are asking Trump, the one you hate so much to help out ??? Unbelievable. LOL.Consumers face coronavirus price-gouging
As fears over the coronavirus grow, people are frantically buying up supplies and leaving store shelves empty. Prices are also sky-rocketing online as demand grows, such as two large bottles of Purell hand sanitizer on sale for nearly $300 on Amazon. The same size normally sells for about $9 a bottle. An Amazon spokesperson says the company does not allow price gouging and it has "recently blocked or removed tens of thousands of offers." Anna Werner reports from a pharmacy in Manhattan on how coronavirus price gouging is affecting consumers.
How coronavirus price-gouging is hurting consumers
Have you experienced price gouging? I've heard several people say that they have. Since I don't do much shopping, I can't speak to any personal experiences - yet.
Sort of like an atheist faced with his dying breath saying "Lord please help me".
That's like saying this a definite crisis where I have to smash myself in the face with a hammer.Consumers face coronavirus price-gouging
As fears over the coronavirus grow, people are frantically buying up supplies and leaving store shelves empty. Prices are also sky-rocketing online as demand grows, such as two large bottles of Purell hand sanitizer on sale for nearly $300 on Amazon. The same size normally sells for about $9 a bottle. An Amazon spokesperson says the company does not allow price gouging and it has "recently blocked or removed tens of thousands of offers." Anna Werner reports from a pharmacy in Manhattan on how coronavirus price gouging is affecting consumers.
How coronavirus price-gouging is hurting consumers
Have you experienced price gouging? I've heard several people say that they have. Since I don't do much shopping, I can't speak to any personal experiences - yet.
Here's the issue with price gauging. If you don't allow prices to fluctuate with the market, the result is there is no product.
When demand goes up, the cost goes up, which results in there being an incentive to bring products to market.
If you deny that system, then the result is there simply is not product.
I can think of dozens of examples of this. After Hurricane Sandy, the mayor of New York sent out police to stop gas stations that were charging a higher price for gasoline.
The result after that, was that gas stations sold out of gas, and people simply.... didn't have any gas for their cars.
Before that, with higher prices, the gas stations were willing to pay gas suppliers a higher fee, to get gasoline shipped into the hurricane zone, which then allowed them to sell to customers, albeit at a higher price.
But with the government sending in police to shut down gas stations engaged in this, the result was no one was willing to pay a higher price for gas, so gas simply didn't show up, the gas stations ran out of gas, and everyone couldn't fill up their cars.
Similarly after Katrina, a hardware store owner contacted private trucking firms, to pick up gas generators, and truck them into the hurricane zone to his store. Of course doing that is horribly expensive, so the store owner sold the generators at a much higher price.... now interestingly, even at the higher price, he lost money on every generator sold.
Nevertheless, he was attacked and destroyed in the media for price gauging, and never had another generator trucked into New Orleans. He lamented that all the other hardware stores were not attacked for price gauging, even though all of them had no generators at all. And of course he closed his store, and provided no generators after that either.
Now as it relates specifically to this situation, I read a post from someone complaining about price gauging. They went to walmart or some other store, and found absolutely nothing. They went to a small independent shop, and found the shelves were full... but the prices were higher.
See, walmart and the other big stores, know that if they provide product at a higher price, that people will scream about gauging. And you know this is true.
So instead, when the product runs out... it just runs out. That's what you want. You'd rather have no product, than a product at higher price. So... no product.
The smaller shops are less likely to be mentioned on that national news, so they raise prices, which allows them to pay for more product, and thus they have product.
When you prevent product prices from adjusting, you result in Venezuela results. Price controls always.... ALWAYS result in shortage.
There's a reason why you can't even find coffee, in a country in the very center of a coffee bean growing region. Price controls.
So whether it is price controls on gas or power generators in a hurricane zone, or price controls on food in Venezuela, or if you control the price of hand sanitizer in the name of "price gouging", the result will always be shortages.
This is a definite crisis where socialism should override capitalism!
Price controls make it disappear.Your logic prevents people of low and modest means from items they need when others are hogging and hoarding and prices are skyrocketing. Then there is also that empty shelf thingy...
Supply and demand ... I feel the pain but these folks should have thought of that two weeks ago ... and I think "need" goes to far ... is there food shortages, housing destroyed, clothing disintegrating ... the poor have what they need ... it's just luxuries that are in short supply ... you do know that anti-bacterial hand lotion doesn't kill viruses, right? ...
Even poor people need food, medicine, and toilet paper. So do their children.
Yeah all American's, but not in the case of anti-American's. Oh he won't let them die by starvation or anything, but he sure ain't doing them any direct favors that's for sure. They can get some crumbs left over if they want.Forgive me if I'm wrong but isn't the POS in our WH supposed to be the president of ALL Americans?You are asking Trump, the one you hate so much to help out ??? Unbelievable. LOL.Consumers face coronavirus price-gouging
As fears over the coronavirus grow, people are frantically buying up supplies and leaving store shelves empty. Prices are also sky-rocketing online as demand grows, such as two large bottles of Purell hand sanitizer on sale for nearly $300 on Amazon. The same size normally sells for about $9 a bottle. An Amazon spokesperson says the company does not allow price gouging and it has "recently blocked or removed tens of thousands of offers." Anna Werner reports from a pharmacy in Manhattan on how coronavirus price gouging is affecting consumers.
How coronavirus price-gouging is hurting consumers
Have you experienced price gouging? I've heard several people say that they have. Since I don't do much shopping, I can't speak to any personal experiences - yet.
Sort of like an atheist faced with his dying breath saying "Lord please help me".
Gouging on what? purell can name it's price, don't buy it if you think it is too expensive...I would hope we let the market dictate price, when folks are not willing to pay a price they won't.Why wouldn't Trump freeze prices to prevent gouging?
Who are these anti- Americans you speak of ?? The ones who can't believe republicans put this unqualified POS in our WH ?Yeah all American's, but not in the case of anti-American's. Oh he won't let them die by starvation or anything, but he sure ain't doing them any direct favors that's for sure. They can get some crumbs left over if they want.Forgive me if I'm wrong but isn't the POS in our WH supposed to be the president of ALL Americans?You are asking Trump, the one you hate so much to help out ??? Unbelievable. LOL.Consumers face coronavirus price-gouging
As fears over the coronavirus grow, people are frantically buying up supplies and leaving store shelves empty. Prices are also sky-rocketing online as demand grows, such as two large bottles of Purell hand sanitizer on sale for nearly $300 on Amazon. The same size normally sells for about $9 a bottle. An Amazon spokesperson says the company does not allow price gouging and it has "recently blocked or removed tens of thousands of offers." Anna Werner reports from a pharmacy in Manhattan on how coronavirus price gouging is affecting consumers.
How coronavirus price-gouging is hurting consumers
Have you experienced price gouging? I've heard several people say that they have. Since I don't do much shopping, I can't speak to any personal experiences - yet.
Sort of like an atheist faced with his dying breath saying "Lord please help me".
Forgive me if I'm wrong but isn't the POS in our WH supposed to be the president of ALL Americans?You are asking Trump, the one you hate so much to help out ??? Unbelievable. LOL.Consumers face coronavirus price-gouging
As fears over the coronavirus grow, people are frantically buying up supplies and leaving store shelves empty. Prices are also sky-rocketing online as demand grows, such as two large bottles of Purell hand sanitizer on sale for nearly $300 on Amazon. The same size normally sells for about $9 a bottle. An Amazon spokesperson says the company does not allow price gouging and it has "recently blocked or removed tens of thousands of offers." Anna Werner reports from a pharmacy in Manhattan on how coronavirus price gouging is affecting consumers.
How coronavirus price-gouging is hurting consumers
Have you experienced price gouging? I've heard several people say that they have. Since I don't do much shopping, I can't speak to any personal experiences - yet.
Sort of like an atheist faced with his dying breath saying "Lord please help me".
Democrats aren't really considered Americans - are they?Forgive me if I'm wrong but isn't the POS in our WH supposed to be the president of ALL Americans?You are asking Trump, the one you hate so much to help out ??? Unbelievable. LOL.Consumers face coronavirus price-gouging
As fears over the coronavirus grow, people are frantically buying up supplies and leaving store shelves empty. Prices are also sky-rocketing online as demand grows, such as two large bottles of Purell hand sanitizer on sale for nearly $300 on Amazon. The same size normally sells for about $9 a bottle. An Amazon spokesperson says the company does not allow price gouging and it has "recently blocked or removed tens of thousands of offers." Anna Werner reports from a pharmacy in Manhattan on how coronavirus price gouging is affecting consumers.
How coronavirus price-gouging is hurting consumers
Have you experienced price gouging? I've heard several people say that they have. Since I don't do much shopping, I can't speak to any personal experiences - yet.
Sort of like an atheist faced with his dying breath saying "Lord please help me".
Because he's not a panicked hysterical commie moron.Why wouldn't Trump freeze prices to prevent gouging?
Hey, maybe Trump could order hundreds of thousands of gallons of gas to distribute to the poor if need be ?? ..Otherwise issue them an emergency gas card as based upon their income, but it can only be used in a state of an emergency that is declared within their area or zone affected.Gouging on what? purell can name it's price, don't buy it if you think it is too expensive...I would hope we let the market dictate price, when folks are not willing to pay a price they won't.Why wouldn't Trump freeze prices to prevent gouging?
Who sued?...When was the case ruled on?Why wouldn't Trump freeze prices to prevent gouging?
It's unconstitutional.
It's stupid.
Is it unconstitutional?
Do you not remember this... “I am today ordering a freeze on all prices and wages throughout the United States.”
Aug. 15, 1971
Nixon
Should Trump freeze prices to prevent coronavirus gouging?
No, what it equates to is that it does not matter if the words are in the USC or not. 90% of what our government does is not in the USC
This is a definite crisis where socialism should override capitalism!
Who sued?...When was the case ruled on?Why wouldn't Trump freeze prices to prevent gouging?
It's unconstitutional.
It's stupid.
Is it unconstitutional?
Do you not remember this... “I am today ordering a freeze on all prices and wages throughout the United States.”
Aug. 15, 1971
Nixon
No, what it equates to is that it does not matter if the words are in the USC or not. 90% of what our government does is not in the USC
As far as the federal government is concerned, what this means, then, per the Tenth Amendment, is that 90% of what the federal government does, it does illegally.
