Market Observations

[Bailey Guns]

Another point many seem to be missing is this... "Price gouging" is most commonly a term that's used during a time of emergency when someone is charging too much for necessary and essential goods and services. Of course, that's not the only definition, but it's the one most states and local gov'ts use and the one most laws are based on.

Paying a higher price for a LPK or a MagPul magazine probably doesn't really fit the most common definition of "price gouging".

[GilpinGuy]

I once got a stereo receiver from Baily Guns. He wanted a 6 pack of root beer for it. I gave him a case. I guess I gouged myself.

[roberth]

Even in time of emergency there is no gouging.

Say there is a flood and gas tripled at the pump because the costs to deliver fuel to the gas station tripled. Is the supplier supposed to eat the costs and lose money for his business, is the retailer, the manufacturer, no, the costs are borne by the consumer who wants that gas.

Supply and demand.

What if the government steps in to subsidize? Well that is wrong too. Why should people who don't live in the affected area be taxed to defray the costs to the people who live in the affected area?

This is where volunteerism and charity step in, not the damn government.

[tmckay2]

people think if the market was controlled and regulated to the point that there was no "price gouging" would get rid of people complaining about price? is this a joke? if some government office controlled it all so that prices could never be artificially inflated, people would still think prices are higher than they should be. then you have issues of corruption within who sets the prices. there is no perfect system.

i don't mind the price gouging honestly. i avoid it because i think its ridiculous, so i won't buy their items and i often keep in mind who spiked the prices and who didn't once it passes. but i am an adult, i can decide for myself what is too high of a price to pay. if others want to pay it, thats fine, and thats fine for the company to sell it at the price it will sell at. if anything it all teaches me to buy when prices go down if possible and then getting through the gouging is even easier. lets be honest here, we are talking about guns and ammo, not food or electricity. this isn't about survival. if you are smart you have a few guns and a bit of ammo that you always have just in case. anything beyond that is for entertainment value and practice, which frankly you can live without. so when we get into gouging sessions, why buy? whats the rush? don't listen to all the panic and the gouging won't bother you one bit.

people that think total price control is the answer are flat out hilarious. there are hundreds of examples across the world that show government control of markets does not mean everyone has more access to goods. that doesn't mean there should be no control and allow complete monopolies either.

[Bailey Guns]

When prices go up it creates opportunity. Some people won't pay the higher price. That creates opportunity for someone else to purchase the item. If you really want something during a time of high demand, and the price is low, most likely the item you want won't be available because someone else will have bought it. There are advantages.

[Bailey Guns]

Even in time of emergency there is no gouging.

Exactly.

[hatidua]

I didn't feel sorry for people caught with no chair when the music stopped last time but I was (generally) polite about it. With prices and availability where they are right now, it's going to be nearly impossible not to laugh out loud at people caught unprepared next time. And there will be a next time.

[roberth]

I didn't feel sorry for people caught with no chair when the music stopped last time but I was (generally) polite about it. With prices and availability where they are right now, it's going to be nearly impossible not to laugh out loud at people caught unprepared next time. And there will be a next time.

Agreed.

I would ask the same question I did last time. What unnecessary items did you buy instead of buying a rifle? Did you buy a big new TV when the old one was fine, lift kit for your truck, a hot tub that you use twice a year, a vacation, a 3rd or 4th car....what did you do with that money instead of buying a couple cases of ammo?

The thing is that the media tells people to buy stuff and the banks via FedRes/FedGov don't encourage savings. As a result when they really NEED or WANT something they're out of cash and credit then they bitch about gouging. It is their own fault, I know because I've been there and done that and it was my fault.

[MrPrena]

I think both side of Gauge or Supply&demand market needs data and metrics, before they seriously want to argue.
Just saying it is "gauging" or "it is just Supply and Demand" on forum is no harm no foul. It is purely their opinion. If you want to prove others wrong, bring the data and metrics to back up what you spit out of your mouth. I assure you the econometrics and math ain't going to be easy. What I know is that I am not going to argue it is gouging or just purely supply and demand. It is just an opinion. Both or neither can be correct. who cares!

EXAMPLES:
Can I buy the entire supply of insulin or flu vaccine and start charging 250% premium? It is supply and demand, isn't it?
Can vendor buy 20% of NA supply of Rhodium (or PM futures) and let the market change the price?It is price gauging , isn't it?

In order to find out they are gauging, they need to gather data and find out the supply and demand curve to find out the elasticity. If it is usually inelastic of "this and that" then it is USUALLY safe to say vendors are gauging. Then they need to find out by region or any dead weight loss. Then, we need to figure out the historical data on those as well base on proportionality based on [geo]political change vs price vs elasticity of Demand and Supply curve. If it is countries which import/export that good or widget, they need to apply some of the international trade model as well.

[spqrzilla]

Unbridaled capitalism gives you robber barons and the great depression. The greatest middle class in American history was created under a 90%+ tax code and the people at the top still did not want for anything.

Complete horse manure. Such "unbridaled" ignorance.

"Robber barons" itself is nonsense on stilts. The Great Depression came about because of government interference with market forces, not capitalism. And it lasted longer in the US than elsewhere in the world because of government policies.

And the "90% tax code" crap is especially ignorant. I get especially pissed off when twits repeat this nonsense. When the US had a "90%" marginal tax rate, there was so much that qualified as deductions against income - including all interest payments - that it was actually a lower effective tax rate than today.