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He makes some pretty good points


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33 minutes ago, Cypress Sun said:

Once I got past the infocommercial, that guy is annoying as hell.

Just about everybody is selling something. Nothin's free on YouTube 

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5 minutes ago, Pat Riot, SASS #13748 said:

I agree. And there is price gouging. 

There was price gouging on TP also, but the market does seem to have a way of correcting itself. And I’m not saying he not annoying, but he does have some very valid points although unpopular with many shooters 

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1 hour ago, Buckshot Bob said:

There was price gouging on TP also, but the market does seem to have a way of correcting itself. And I’m not saying he not annoying, but he does have some very valid points although unpopular with many shooters 

Buckshot, I'm sure you are correct.  But, I stopped watching pretty quickly because of the annoying dude.

 

Price gouging?  Ask Texans how they feel about their most recent energy bills. 

 

There is a reason we have laws against price gouging.  There are folks of low moral character.

 

 

.

Edited by Birdgun Quail, SASS #63663
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3 hours ago, Buckshot Bob said:

 

I agree he makes some excellent points. Funny I don’t find him annoying at all maybe because he reminds of of someone I used to work with at a gun shop /range that was actually a pretty nice dude!

Edited by Rye Miles #13621
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In Texas the price of electricity has gone up so much.

This is price gouging because it is a service that the customer can not go to another seller or without for very long.

 

Ammunition is not a service and is not necessary for the average customer.

The customer can go else where or not buy at all.

Not gouging but free market demand.

If demand goes down, so will the pricing.

 

 

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16 minutes ago, Cliff Hanger #3720LR said:

In Texas the price of electricity has gone up so much.

This is price gouging because it is a service that the customer can not go to another seller or without for very long.

 

Ammunition is not a service and is not necessary for the average customer.

The customer can go else where or not buy at all.

Not gouging but free market demand.

If demand goes down, so will the pricing.

 

 

I guess the same thing could be said about TP , but things could get messy :) 

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As an economist I don't believe there is such a thing as price gouging.  Regulated utilities are not a good example as they are limited by whatever agency is doing the regulating.  If they're overcharging your complaint is with the regulator that is allowing them to charge those prices.

 

With respect to non-regulated individuals or businesses.  Why on earth would anyone think they have a right to tell someone what they can charge for their property when they sell it?  Whose property is it?  Theirs, or yours?

 

Price gouging controls ALWAYS end up hurting the consumer and are NEVER effective.  

 

A perfect example is price gouging controls when natural disasters happen.  So a hurricane hits and folks load up their trucks with generators, water, chainsaws, etc.  They drive that stuff into the affected area and sell it for a profit.  They've just made a profit, and increased the supply of needed items in the area.  Then Uncle Sugar swoops in and says, NO, you can't do that.  What's the result, the increase in supply doesn't occur, and consumers in the area have fewer options to acquire the goods they need.  Very few people are going to load up and drive supplies into a natural disaster area so they can sell them for the same price they purchased them for. 

 

Same thing with gas price controls in those situations.  Given the ability to increase prices, gas station owners do.  The guy driving by in his car with 3/4s of a tank sees the high prices and decides to wait until he's out of the affected area, leaving gas for those who need it more.  Then Uncle Sugar swoops in and says, NO you can't charge that much.  Now the guy with his tank 3/4s full sees relatively inexpensive gas and tops off.  Later the family with a 1/4 of a tank comes along and all the gas is gone.

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The Texas electricity bill the news is sensationalizing were not price gouging. Because of the way electricity is structured in Texas most house holds can pick their provider. Each provider has their own pricing scheme. I'll focus on Griddy as that is one of the ones currently in the news. Their pricing was based on the wholesale spot price. The spot price varies from hour to hour with the price being higher when the demand is higher. Normally the spot price varies predictably with it costing more during the summer and peak demand hours.

 

With demand far outstripping supply the spot price of electricity went through the roof. A good analogy would be the cost of primers right now. The difference being that you can decide not to buy primers while people agreed to buying electricity without knowing the price until after they had bought it. 

Think about it you have contractually agreed to purchase something without knowing the actual price it costs per unit until you get the bill some time in the future. When you see it for what it really is, providers like Griddy are not the evil corporations they have been made out to be.

They were not much different than people that short stock. Most of the time you make money or loose very little. However the potential to loose your shirt, pants and underwear is real and sooner or later it will happen.

 

Griddy doesn't set the price the power generation facilities do. In a regulated market the companies that sell to individuals and business has to adsorb the super high spot price and then petition the regulating authority to pass this cost on to their customers. In an unregulated market each company develops a pricing scheme that makes them money and is attractive to potential customers. Each company has to figure out a way to adsorb the variations in the spot price while selling to consumers at an attractive price. 

 

Those people that subscribed to Griddy and other similar suppliers agreed to this pricing scheme. They agreed to the risk believing it would never happen. No body tricked them. They failed to understand the real risk of tying their electrical costs to an unregulated pricing model.

 

As for those that had thousands taken from their bank accounts they chose to have their bills automatically deducted from their accounts. Only a complete idiot would give a business the ability to automatically deduct money from their account without knowing exactly how much that deduction would be until after the fact. Yet millions of people pay their bills this way.

 

Edited by Sedalia Dave
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