Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Sandy Price Gouging Probed: $7 Loaf Of Bread, $10 Box Of Matches
NBC ^ | 11-6-2012 | AP

Posted on 11/06/2012 5:31:08 AM PST by blam

Edited on 11/06/2012 5:32:56 AM PST by Admin Moderator. [history]

More than 400 possible cases of price gouging of gasoline and other essentials, including a $10 box of matches and $7 loaf of bread, have been reported in New York before and after Sandy.

Reports are being investigated in New York City, the Hudson Valley and on Long Island by state Attorney General Eric Schneiderman.


(Excerpt) Read more at nbcnewyork.com ...


TOPICS: News/Current Events
KEYWORDS: gouging; hurricane; newyork; sandy

1 posted on 11/06/2012 5:31:15 AM PST by blam
[ Post Reply | Private Reply | View Replies]

To: blam

It’s not price gouging.

When there are only 3 boxes of matches left,
and some guy is buying up every box in sight,
he’ll stop doing so and let someone else who needs it worse
when the price becomes high enough for him to say “I already have enough”.

High prices in an emergency prevent hoarding and promote efficient distribution of needed resources.


2 posted on 11/06/2012 5:37:03 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Who do I report economic ignorance to?


3 posted on 11/06/2012 5:37:44 AM PST by Gunslingr3
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam
Supply and Demand
4 posted on 11/06/2012 5:38:38 AM PST by TYVets (Pure-Gas.org ..... ethanol free gasoline by state and city)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Basic economics teaches that there is no such thing as price gounging, merely pricing that allocates a limited supply. Unfortunately, most politicians have no understanding of economics and prefer to demagogue the matter through self-serving statements and pandering.


5 posted on 11/06/2012 5:38:41 AM PST by T-Bird45 (It feels like the seventies, and it shouldn't.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

And.......the voters of New York, New Jersey and Connecticut will vote like good commies and socialists for Obama to keep doing them in!!! What buffoons, dummies & fools!!!


6 posted on 11/06/2012 5:39:58 AM PST by JLAGRAYFOX ( My only objective is to defeat and destroy Obama & his Democrat Party, politically!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer
Thousands Of Public Housing Tenants Struggle To Survive Without Heat, Water, And Power - A Full Week After Hurricane Sandy

The hand-written sign taped to the door at the Red Hook Houses said it
 all – “WE ARE NOT ANIMALS!”


A full week after Hurricane Sandy came and went, thousands of furious
 Housing Authority tenants in Brooklyn, Queens and Manhattan struggled 
Monday to survive in squalid conditions as NYCHA scrambled in vain to
 turn on power, heat and water.


“Nobody comes here to help. It’s the land of the lost,” declared a 
frustrated Ralph Fret, 64, pointing at the black fetid water that 
remained in the basement of his building - nearly to the ceiling. “You
 see all that water? You see a pump anywhere? They’re not doing
 anything.”


As of Monday some 20,000 NYCHA tenants at 108 buildings in 17 projects 
in Brooklyn, Queens and Lower Manhattan remained in the dark on many
 levels – living without heat, water, elevators and light but also
 without word from officials about when things might get back to 
normal.

(snip)


7 posted on 11/06/2012 5:40:36 AM PST by blam
[ Post Reply | Private Reply | To 1 | View Replies]

To: TYVets

But...But...It’s NOT FAIR ( dumbasses didn’t stock up pre-emergency).


8 posted on 11/06/2012 5:41:12 AM PST by Safetgiver ( Islam makes barbarism look genteel.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: blam

It’s OK, because Hurricane Sandy gave New York and New Jersey an economic boost because of all the reconstruction that will be needed.

So everyone will have money soon.

</sarcasm>


9 posted on 11/06/2012 5:50:05 AM PST by Maceman
[ Post Reply | Private Reply | To 1 | View Replies]

To: MrB

Yours is the rational opinion. Alas, the average schmuck reacts emotively to these things, and the politicians know it.


10 posted on 11/06/2012 5:50:33 AM PST by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: MrB
People had at least a week notice to stock up on some basics.

For a 100 dollars spent before the storm most people would have been much better off.

I do not have very much sympathy for people who did not perpare some what.

11 posted on 11/06/2012 5:50:45 AM PST by riverrunner
[ Post Reply | Private Reply | To 2 | View Replies]

To: MrB
High prices in an emergency prevent hoarding and promote efficient distribution of needed resources.

A fact lost on politicians and media morons.

12 posted on 11/06/2012 5:51:07 AM PST by from occupied ga (Your government is your most dangerous enemy)
[ Post Reply | Private Reply | To 2 | View Replies]

To: blam

I wonder what they’re doing?
It always mystifies me. Disaster recovery and shelters should only need a supervisory staff. The victims and refuge seekers should provide most of the labor.


13 posted on 11/06/2012 5:53:51 AM PST by Little Ray (I have VOTED AGAINST Obama in the General.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: from occupied ga

But if a store owner can adjust the price, why not limit
items ‘one to a customer’?


14 posted on 11/06/2012 5:56:26 AM PST by americas.best.days...
[ Post Reply | Private Reply | To 12 | View Replies]

To: Little Ray
Ay least Katrina has Media coverage and Sandy hit the Media capital and hardly any coverage.

Covered for Obama

15 posted on 11/06/2012 5:57:55 AM PST by scooby321 (AMS)
[ Post Reply | Private Reply | To 13 | View Replies]

To: blam
WE ARE NOT ANIMALS!”

No - animals would have been better prepared. Public housing inhabitants are by definition those who made poor life choices and decided that public housing was better than busting their asses working for a living.

Nobody comes here to help. It’s the land of the lost,” declared a 
frustrated Ralph Fret, 64,

So get off your "frustrated" lazy dead ass and do something for yourself Ralph you useless POS. My sympathy meter for those in public housing who expect their fellow citizens to come and provide them the necessities of life for nothing pegs at zero. This is the 0bama voter entitlement mentality for all to see. "I have a problem. When is somone else going to fix it?" SCREW PEOPLE IN PUBLIC HOUSING! DO SOMETHING FOR YOURSELVES YOU LAZY SH!TS OR FREEZE. And frankly freeze would be best for everyone else.

I reserve my sympathy for the hardworking New Yorkers (even though they most likely will vote for 0bama)who actually lost something that THEY worked for.

16 posted on 11/06/2012 6:01:50 AM PST by from occupied ga (Your government is your most dangerous enemy)
[ Post Reply | Private Reply | To 7 | View Replies]

To: blam; ding_dong_daddy_from_dumas; DoughtyOne; Gilbo_3; Impy; stephenjohnbanker; NFHale; ...
RE :”New Yorkers can report price gouging by telephone at 800-771-7755 or through his office website.
“We are actively investigating hundreds of complaints we've received from consumers of businesses preying on victims of Hurricane Sandy,” Schneiderman said. “Our office has zero tolerance for price gouging.”

That is why I posted this:

Would rising prices(if legal)work better than state controlled Rationing in NJ after this hurricane?( November 03, 2012 · by sickoflibs) ·

Price controls like this cause more problems than good. They deter increasing supply to meet demand, and vice versa.

17 posted on 11/06/2012 6:02:11 AM PST by sickoflibs (Romney is still a liberal. Just watch him. (Obama-ney Care ))
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

This happened in Florida after Hurricane what’s her face a few years ago. A man loaded a truck with much needed and much wanted water bottles. He drove to Florida to sell the bottle at $4 each only to be stopped and fined for “price gouging”. The water didn’t make it to it’s desination and the people didn’t get gouged. They had no water but at least they saved money. `sarc


18 posted on 11/06/2012 6:06:23 AM PST by albie
[ Post Reply | Private Reply | To 1 | View Replies]

To: americas.best.days...
But if a store owner can adjust the price, why not limit items ‘one to a customer’?

Suppose a customer legitimately needs more than one. Price provides a better determinant as to the actual quantity of something that one may "need" Example bread: One guy is single, another has two kids. Which is better letting the market determine price so that supply matches demand or limiting consumption? This sort of micromismanagement is what caused the Soviet economy to fail.

19 posted on 11/06/2012 6:06:46 AM PST by from occupied ga (Your government is your most dangerous enemy)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Little Ray
"Disaster recovery and shelters should only need a supervisory staff. The victims and refuge seekers should provide most of the labor."

They are already handling the pimping, prostitution, drug dealing, stealing, rape and you want them to work at run the place too? UNBELIEVABLE! ;-)
20 posted on 11/06/2012 6:25:10 AM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
[ Post Reply | Private Reply | To 13 | View Replies]

To: MrB

Exactly, “gouging” and “hoarding” aren’t even taught in economics classes.


21 posted on 11/06/2012 6:35:04 AM PST by SJSAMPLE
[ Post Reply | Private Reply | To 2 | View Replies]

To: blam

“Reports are being investigated in New York City, the Hudson Valley and on Long Island by state Attorney General Eric Schneiderman.”

What exactly is Eric Schneiderman investigating? Is free enterprise a prosecutable offense now?


22 posted on 11/06/2012 6:40:25 AM PST by Boogieman
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Wow. An article about Sandy. Seems like it isn’t a big deal at all to the media. Just a few million people starving and freezing.

If obama can stop the rise of the oceans and heal the earth, why can’t he help the people he SAYS he cares about. Just wave your magic wand owebama. Why are you letting people starve and freeze? Playing some hoops instead mr. Preezy?


23 posted on 11/06/2012 7:04:08 AM PST by subterfuge (BUILD MORE NUCLEAR POWER PLANTS NOW!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: americas.best.days...; JediJones; SaraJohnson; count-your-change
cc JediJones; SaraJohnson;count-your-change

But if a store owner can adjust the price, why not limit items ‘one to a customer’?

Thanks for your post. Unlike many, you obviously are not confusing normal commerce with a natural disaster.

Reading through the posts on threads re price gauging, you realize how shrewd Marx was in recommending free movement of capital divorced from ethics and patriotism.

Better written than I could:
One
Two
Thee
24 posted on 11/06/2012 7:20:24 AM PST by khelus
[ Post Reply | Private Reply | To 14 | View Replies]

To: from occupied ga

Yep, I may “need” two boxes of matches, and be willing to pay the $20, but if I don’t REALLY need a third box, I’ll spend the $10 on something else that I do.

However, if that box was only $2, I would probably go ahead and get a couple more just in case. Then the next guy would be willing to pay a lot more, but they’re all gone because I was willing to spend for the “just in case”.


25 posted on 11/06/2012 7:25:44 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
[ Post Reply | Private Reply | To 19 | View Replies]

To: blam

If they sold them at a normal price, the purchaser would just turn around and sell it at the higher price....the invisible hand will not be denied.


26 posted on 11/06/2012 7:26:55 AM PST by dfwgator
[ Post Reply | Private Reply | To 1 | View Replies]

To: khelus
In answer to the question:
“But if a store owner can adjust the price, why not limit items ‘one to a customer’?”

He might do that if he wanted the widest distribution of a product instead of the quickest return of his investment and profit.
But typically the merchant wants to sell out a stock at a profit and reinvest in more in a profitable cycle. He wants customers to return and even gain new ones.

The politician has a different motive. He represents a group of people and it's in his interests to serve their needs as widely and completely as possible.
He has no profit and loss statement to concern himself with but operating within the bounds of available resources.

He may indeed say one item to a person or such to make what will be seen as a “fair” allocation to those who can reelect him or otherwise support him in office.

Which one of us would want the police to only serve those neighborhoods that could pay enough to allow a “profit” on their service.

But a merchant can do that. He can ration by price if his supply is limited. So Kolbe beef is rationed by its $50-$100/lb. price to those able and willing to pay for it.

As is evident the politician and the merchant operate under different constraints and are guided by different motives.

27 posted on 11/06/2012 9:04:35 AM PST by count-your-change (You don't have to be brilliant, not being stupid is enough.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: MrB
When there are only 3 boxes of matches left, and some guy is buying up every box in sight, he’ll stop doing so and let someone else who needs it worse when the price becomes high enough for him to say “I already have enough”. High prices in an emergency prevent hoarding and promote efficient distribution of needed resources.

Raising the price on 3 boxes of matches means absolutely nothing, just do what stores always do and limit the items per person.

Raising a price beyond the ability of the wealthy to purchase what they want of it, hardly makes it available to the regular people.

28 posted on 11/06/2012 10:32:38 AM PST by ansel12 (Vote, but don't pretend.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: blam
They’re not doing
 anything.”


I'd be inclined to give those guys a little bit of a break.

When I lived in an apartment, I didn't own a pump suitable for emptying a flooded basement.

Even if one of them did have a pump, where would they get the power to run it?

29 posted on 11/06/2012 11:23:22 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: DuncanWaring
If I found myself in that situation my first question would be:

1. How did I fail and let myself get in this situation?

2. Now, how will I survive and get out of this situation,

3. What will I do to prevent this ever happening again.

I'm just being a hard-assed...as I think I have planned for most any situation that can happen.

Because....It's Always Something. (IAS)

30 posted on 11/06/2012 11:54:58 AM PST by blam
[ Post Reply | Private Reply | To 29 | View Replies]

To: blam
Grid-Down Collapse: Hard Assets Soar In Value
31 posted on 11/06/2012 12:00:15 PM PST by blam
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Yeah, there is that whole issue of “living within storm-surge distance of the shoreline”.


32 posted on 11/06/2012 12:09:41 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 30 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson