Tornado/storm damage areas: Oklahoma AG enacts price gouging law for 12 counties

[aarondhgraham]

If people are willing to pay the price of the product, the answer is 'Yes', that's my idea of free market.

This wasn't an exercise of Free Market,,,
It was an exercise in price gouging.

It was done strictly to take advantage of an emergency situation,,,
People weren't willing to pay over 400% the normal price for gasoline,,,
They had to pay that price or risk losing their jobs by not showing up for work.

It was exactly the same thing when that "Pharma Dude" guy,,,
Raised the price of an Epi-Pen from $78.00 to $495.00.

When Congress asked him why he did that to a life-saving necessity,,,
His reply was, "Because I can".

If I you or I had a child that died because of that price increase,,,
Do you think that your "Free Market" argument would still be valid?

Honestly man, if you do,,,
I'll just shake my head in disbelief.

There need be no further posts about this to me,,,
I've said all I need to say on the topic.

Aarond

.

 

[SlugSlinger]

But the price gouging law doesn't apply to selling/purchasing natural gas, right?

No, but the gougers can be sued later.

https://www.oag.ok.gov/articles/att...uits-stemming-soaring-natural-gas-prices-2021

I hope ET is at the top of the list.

 

[SlugSlinger]

No, but the gougers can be sued later.

https://www.oag.ok.gov/articles/att...uits-stemming-soaring-natural-gas-prices-2021

I hope ET is at the top of the list.

View attachment 474740

And they are! Yay!

 

[-Pjackso]

There's a big difference between allowing free market to work between items that are (optional versus required).

The price of soda, a new car, or a house,
...versus price for insulin or NG for heat.
The 2 are not the same.

There is a balance between free-market versus pricing limits (anti-gouging). ...I don't have the answer, but there is a place for both.

 

[OK Corgi Rancher]

Government meddling in the market will always make the situation worse. Always.

If you're not happy about the price of a product you're free to invest your money, time and other resources to provide an alternative product to the market. Well...until government steps in and f***s it up.

 

[OK Corgi Rancher]

This wasn't an exercise of Free Market,,,
It was an exercise in price gouging.

It was done strictly to take advantage of an emergency situation,,,
People weren't willing to pay over 400% the normal price for gasoline,,,
They had to pay that price or risk losing their jobs by not showing up for work.

It was exactly the same thing when that "Pharma Dude" guy,,,
Raised the price of an Epi-Pen from $78.00 to $495.00.

When Congress asked him why he did that to a life-saving necessity,,,
His reply was, "Because I can".

If I you or I had a child that died because of that price increase,,,
Do you think that your "Free Market" argument would still be valid?

Honestly man, if you do,,,
I'll just shake my head in disbelief.

There need be no further posts about this to me,,,
I've said all I need to say on the topic.

Aarond

.

Emotional rhetoric is a powerful thing...

 

[SlugSlinger]

Government meddling in the market will always make the situation worse. Always.

If you're not happy about the price of a product you're free to invest your money, time and other resources to provide an alternative product to the market. Well...until government steps in and f***s it up.

Smart man!

 

[Decoligny]

If people are willing to pay the price of the product, the answer is 'Yes', that's my idea of free market. If you don't want to pay the asking price for a product then don't. That keeps you happy and it gives someone else the opportunity to purchase that product.

Is having the government control over pricing your idea of a free market?

Why is it so many are always screaming about getting government out of their lives but think price controls are OK? You're either for limited government or you're not.

So, when there’s no drinkable water available except for bottled water that has to be purchased, and you have no choice but to buy water or die, and they up the price from $1/bottle to $150/ bottle, those who can’t pay get to use the free market to voice their displeasure buy going off to die of thirst.
The price gouging laws fall into the category of “promote the general welfare”.

 

[SlugSlinger]

So, when there’s no drinkable water available except for bottled water that has to be purchased, and you have no choice but to buy water or die, and they up the price from $1/bottle to $150/ bottle, those who can’t pay get to use the free market to voice their displeasure buy going off to die of thirst.
The price gouging laws fall into the category of “promote the general welfare”.

Water seems to be the one thing that is readily available after a disaster. I remember the Joplin tornado and volunteering afterwards. Other than the complete destruction I remember seeing pallets and pallets of water.

People have become complacent, soft and unprepared. They make fun of people that prepare for disasters. The time to prepare is before the chaos not during.

Too bad it’s human nature to be reactive vs proactive. The stock market is the perfect example. People buy when the market is going up and sell when it’s dropping. The water example is based on the same logic.

 

[OK Corgi Rancher]

So, when there’s no drinkable water available except for bottled water that has to be purchased, and you have no choice but to buy water or die, and they up the price from $1/bottle to $150/ bottle, those who can’t pay get to use the free market to voice their displeasure buy going off to die of thirst.
The price gouging laws fall into the category of “promote the general welfare”.

I'm gonna say that's a ridiculous scenario. Like @SlugSlinger pointed out water is usually the first thing on scene after a disaster. I've never seen a disaster response that didn't provide water from multiple sources and I've been directly involved in several...from hurricanes, to tornadoes to wildfires. And the water has always been free. I've also never seen a situation where those were the only two options in a disaster...pay an exorbitant price for water or die. That's just silly.

And, BTW... Private response to water delivery was ALWAYS more rapid and efficient than the government response.

Price gouging laws fall into the category of government meddling where it shouldn't be meddling.