Price gouging during Hurricane Harvey: Up to $99 for a case of water, Texas AG says - Sensationalist Headlines

[quote]There have already been more than 500 complaints about price gouging during Hurricane Harvey over the weekend, Texas Attorney General Ken Paxton told CNBC on Monday. That includes reports of up to $99 for a case of water, hotels that are tripling or quadrupling their prices and fuel going for $4 to $10 a gallon, he said in an interview with "Closing Bell." "These are things you can't do in Texas," Paxton said. "There are significant penalties if you price gouge in a crisis like this." Anyone who does so can be hit with a $20,000 fine per occurrence, or up to $250,000 if the victim is someone age 65 or older. As for whether there will be a shortage of goods, Paxton said the big retailers are in the process of re-establishing supply chains as quickly as they can. "I don't think as large as our country is, as large as Texas is, that supply is ultimately going to be that big of an issue."[/quote] [url]https://www.cnbc.com/2017/08/28/price-gouging-during-hurricane-harvey-up-to-99-for-a-case-of-water-texas-ag-says.html[/url] this is your brain on capitalism

They deserve every dollar in fines they get if they do price gouge during a crisis.

[QUOTE=Judas;52624045][url]https://www.cnbc.com/2017/08/28/price-gouging-during-hurricane-harvey-up-to-99-for-a-case-of-water-texas-ag-says.html[/url] this is your brain on capitalism[/QUOTE] "ah yes, establishments getting punished for price gouging in a time of crisis, I should put a little quip about blaming capitalism"

Raises valid arguments against pure capitalism though.

[QUOTE=Boaraes;52624100]"ah yes, establishments getting punished for price gouging in a time of crisis, I should put a little quip about blaming capitalism"[/QUOTE] This is exactly what capitalism does. Instead of thinking how to help each other in a crisis, people would rather shaft each other to make a profit.

[video=youtube;mN06IX2rNmc]https://www.youtube.com/watch?v=mN06IX2rNmc[/video] Reminds me of this scene... 2:05

[QUOTE=Boaraes;52624100]"ah yes, establishments getting punished for price gouging in a time of crisis, I should put a little quip about blaming capitalism"[/QUOTE] The profit motive isn't quite as good as the communal harmony motive

[QUOTE=Boaraes;52624100]"ah yes, establishments getting punished for price gouging in a time of crisis, I should put a little quip about blaming capitalism"[/QUOTE] Why on Earth else would you raise prices to profit off of a crisis if not for capitalistic gain

[QUOTE=TheNerdPest14;52624090]They deserve every dollar in fines they get if they do price gouge during a crisis.[/QUOTE] This is America. They'll be fined for approximately 5% of what they made being assholes, get a slap on the wrist, and be told "don't do it again (at least where we can see you)".

[QUOTE=Boaraes;52624100]"ah yes, establishments getting punished for price gouging in a time of crisis, I should put a little quip about blaming capitalism"[/QUOTE] this is literally the direct fault of capitalism entire warehouses of these products are easily accessable, but stores overcharge in a crisis because capitalism strips people of any basic human decency in exchange for profit$$

In similar news, [url=https://www.today.com/food/budweiser-brewery-drinking-water-hurricane-harvey-victims-t115614]a brewery of Anheuser-Busch's in Georgia shut down beer making to can water to send to the area.[/url]

[QUOTE=Judas;52624143]this is literally the direct fault of capitalism entire warehouses of these products are easily accessable, but stores overcharge in a crisis because capitalism strips people of any basic human decency in exchange for profit$$[/QUOTE] Yeah, and now they're getting fined. Good thing the US isn't based on pure capitalism, now is it? My comment was moreso in response to how childish the quip was, that's all.

A local gas station in my town during 9/11 raised gas to $14 a gallon (In Indiana mind you). Needless to say the State was there within the day and shut them down. Price gouging during a disaster is about the scummiest thing you can do as a business owner.

[QUOTE=Boaraes;52624159]Yeah, and now they're getting fined. Good thing the US isn't based on pure capitalism, now is it? My comment was moreso in response to how childish the quip was, that's all.[/QUOTE] as forumaster said... [QUOTE=Forumaster;52624136]This is America. They'll be fined for approximately 5% of what they made being assholes, get a slap on the wrist, and be told "don't do it again (at least where we can see you)".[/QUOTE]

-snip-

[QUOTE=Judas;52624171]as forumaster said...[/QUOTE] As the article said... [quote]Anyone who does so can be hit with a $20,000 fine per occurrence, or up to $250,000 if the victim is someone age 65 or older.[/quote] Not sure if you're aware, but that's a lot of money for establishments like hotels, and this is per occurrence. It could rack up to the millions in fines.

the fact that it happened at all regardless of penalties meted out is a failing of the capitalist model.

[QUOTE=Judas;52624143]this is literally the direct fault of capitalism entire warehouses of these products are easily accessable, but stores overcharge in a crisis because capitalism strips people of any basic human decency in exchange for profit$$[/QUOTE] A lot of the price gouging i've heard about was coming from small business/mom-and-pop shops and not big chain stores. If they were it was a decision on the franchise owner or equivalent. Meanwhile, big chains are opening their doors and helping out, like HEB, Anheuser-Busch, and others. Price gouging is the minority, examples of compassion far out number them. There will always be dickheads. [editline]28th August 2017[/editline] [QUOTE=Headhumpy;52624190]the fact that it happened at all regardless of penalties meted out is a failing of the capitalist model.[/QUOTE] What they did was against the law. They broke the law. They were not encouraged by society to do it. It's a failing of human decency is what it is. Just like other crime. [editline]28th August 2017[/editline] Regulations only work if people agree to respect them.

[QUOTE=Steel & Iron;52624153]In similar news, [url=https://www.today.com/food/budweiser-brewery-drinking-water-hurricane-harvey-victims-t115614]a brewery of Anheuser-Busch's in Georgia shut down beer making to can water to send to the area.[/url][/QUOTE] They've done this before IIRC. Damn decent of them to do so, as well.

I do err on the side of protecting consumers, but at the same time without the ability to changes prices, people overbuy to the point stores run out of stock far before they should. Instead of buying what they need, people on average freak out and buy 10-100 times what they actually need and screw others out of vital supplies. Price changes aren't always because of 'capitalism is evil'.

[QUOTE=DrDevil;52624122]This is exactly what capitalism does. Instead of thinking how to help each other in a crisis, people would rather shaft each other to make a profit.[/QUOTE] People are going to look for ways to shaft each other no matter what sort of economic system they fall under. Thats human nature down to the most basic level. You can't blame that on capitalism, but you can blame price gouging on capitalism. [editline]29th August 2017[/editline] [QUOTE=nagachief;52624259]I do err on the side of protecting consumers, but at the same time without the ability to changes prices, people overbuy to the point stores run out of stock far before they should. Instead of buying what they need, people on average freak out and buy 10-100 times what they actually need and screw others out of vital supplies. Price changes aren't always because of 'capitalism is evil'.[/QUOTE] Yes but there is currently no permanent shortage of supplies. This is done to make money, not conserve supplies. HEB has a literal army of trucks bringing in supplies and relief to people in the Houston area. There is absolutely no excuse to be price gouging.

[QUOTE=Cyke Lon bee;52624280] Yes but there is currently no permanent shortage of supplies. This is done to make money, not conserve supplies. HEB has a literal army of trucks bringing in supplies and relief to people in the Houston area. There is absolutely no excuse to be price gouging.[/QUOTE] I mostly meant local stores since big ones have such extensive supply networks they normally aren't effected. Though, on the note of HEB, they're awesome. Harvey is an emergency for HEB though; their Frozen stock comes from Houston. The warehouses are either damaged or unreachable. We've run out of essential items for the Bakery department and frozen isles are starting to run out. I'm down to leftover football prefried donuts then after that, no donuts at all. If it doesn't get any better, I'm likely to lose hours because my job no longer is doable. I have no idea why they don't have a backup plan for something like this, being as big as they are in Texas.

[QUOTE=Cyke Lon bee;52624280]People are going to look for ways to shaft each other no matter what sort of economic system they fall under. Thats human nature down to the most basic level. You can't blame that on capitalism, but you can blame price gouging on capitalism. [/QUOTE] have you considered that this may not be true, and instead you've only ever lived under a system that makes people shit to each other?

When we had a cyclone and flood here not so long ago we had a few companies charge $150 for a 24pack of water. Fucking horrendous

[QUOTE=Judas;52624327]have you considered that this may not be true, and instead you've only ever lived under a system that makes people shit to each other?[/QUOTE] Again, these cases of gouging are in the minority. If it was widespread I'd be inclined to agree. But I've seen far more people giving out free things than overcharging for things. You're choosing to look at the worst examples of humanity in disaster events. Utopia doesn't exist and in any economic system there will be a minority of criminals gaming the system for personal gain.

[QUOTE=Headhumpy;52624190]the fact that it happened at all regardless of penalties meted out is a failing of the capitalist model.[/QUOTE] People call those "externalities". And they should be controlled for.

[QUOTE=Steel & Iron;52624153]In similar news, [url=https://www.today.com/food/budweiser-brewery-drinking-water-hurricane-harvey-victims-t115614]a brewery of Anheuser-Busch's in Georgia shut down beer making to can water to send to the area.[/url][/QUOTE] [t]http://www.canadianmanufacturing.com/wp-content/uploads/2015/07/20150707_C4653_PHOTO_EN_437765.jpg[/t] There's a brewery in Canada that does this as well. They have something like 100,000 litres of water in stored cans waiting for emergencies. They're able to switch their production from producing beer to canning pure drinking water, but it takes about a day to stop and change over. They keep their huge surplus of cans so they're able to ship them to a crisis site immediately while they put production on pause to can more water if needed. and, of course, they donate these hundreds/thousands of cases of water for free.

[QUOTE=elixwhitetail;52624525][t]http://www.canadianmanufacturing.com/wp-content/uploads/2015/07/20150707_C4653_PHOTO_EN_437765.jpg[/t] There's a brewery in Canada that does this as well. They have something like 100,000 litres of water in stored cans waiting for emergencies. They're able to switch their production from producing beer to canning pure drinking water, but it takes about a day to stop and change over. They keep their huge surplus of cans so they're able to ship them to a crisis site immediately while they put production on pause to can more water if needed. and, of course, they donate these hundreds/thousands of cases of water for free.[/QUOTE] Labatt is owned by Anheuser-Busch. That's the same can that they use in the US too. They do this whenever there is a disaster. [editline]28th August 2017[/editline] Of course, some may joke that it's not much different than their beers.

[QUOTE=nagachief;52624259]I do err on the side of protecting consumers, but at the same time without the ability to changes prices, people overbuy to the point stores run out of stock far before they should. Instead of buying what they need, people on average freak out and buy 10-100 times what they actually need and screw others out of vital supplies. Price changes aren't always because of 'capitalism is evil'.[/QUOTE] They can still ration out supplies so people don't abuse the system. No sense why a family of 4 will need 20 palettes of water

[QUOTE=OvB;52624215]A lot of the price gouging i've heard about was coming from small business/mom-and-pop shops and not big chain stores. If they were it was a decision on the franchise owner or equivalent. Meanwhile, big chains are opening their doors and helping out, like HEB, Anheuser-Busch, and others. Price gouging is the minority, examples of compassion far out number them. There will always be dickheads. [editline]28th August 2017[/editline] What they did was against the law. They broke the law. They were not encouraged by society to do it. It's a failing of human decency is what it is. Just like other crime. [editline]28th August 2017[/editline] Regulations only work if people agree to respect them.[/QUOTE] It's more about the PR. If they help, it solidifies their brand especially with the locals - plus, the employees probably are happy about helping others. And if they're caught price-gouging... you can imagine what would happen. It would be a goddamn PR disaster, not to mention the fines and huge repercussions. [editline]29th August 2017[/editline] The 'regulations' that matter here are the social ones. Social pressure works on not just people, but companies too, despite being quite soulless.