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It's not gouging (this example might be).
It's a market response to Obama, Holder and the Democratic win in November.
How is it gouging if no one bought it and the auction is over?
I can't stand when people call this gauging. Its the most fundamental laws of supply and demand at work.
I think of gouging as a result of supplier collusion. There's no evidence this is happening.
I can't stand when people call this gauging. Its the most fundamental laws of supply and demand at work.
You're "unnatural" forces, are actually "natural" forces. In the case of gas stations, petroleum refiners believe that a shortage is inevitable due to weather abnormalities.
The run on guns? Two fold: 1. Possible supply side issue caused by government regulation or prohibition of certain classes of firearms/ammo, 2. Increase in property/violent crime due to worsening economic conditions, demand surges.
and the speculators will probably get donkey punched in the long run when the supplies become too abundant for them to manipulate
-Mike
I actually called it "gouging", not "gauging".
In any event, the typical definition of price gouging is the jacking of prices in anticipation of or during a civil emergency. So, it's not totally preposterous to call it price gouging, at least if I go off the general opinion of this board.
Besides, I posted mostly because I thought $95 for an M14 mag was pretty funny.
In the OP's example this most certainly is gouging- Even in these times, $95 is not the market rate, or anywhere close to it, for an M14 mag... period.
This isn't any different than one gas station selling gas for $5 a gallon when every other station in town is selling it for $3.50
This magazine is a luxury good.
Then buy a magazine somewhere else. Unless that seller is the only seller (and even then) this isn't price gouging. Its just an exorbitantly high price. You can find one for much lower very easy. Just don't buy it. Gouging is when you charge a ridiculous price for something when there are extremely limited substitutes or other places to buy.
...
And that isn't gouging either, its just incredibly stupid pricing. Unless that gas station is the only seller for tens of miles and a storm just hit and he jacks up his prices as a result.
What if you have an M1A and you need a magazine for it? Then is it
still a luxury good?
This is the WRONG place to try to pawn off the argument that a gun, magazine, or ammunition is a "luxury good".
You're very right about that , but I'd love to hear if some of the very intelligent users here have found a way to eat bullets and stamped steel
Price gouging is a pejorative term for a seller pricing much higher than is considered reasonable or fair. In precise, legal usage, it is the name of a felony that applies in some of the United States only during civil emergencies. In less precise usage, it can refer either to prices obtained by practices inconsistent with a competitive free market, or to windfall profits. Non-pejorative uses are generally in reaction to what the writer believes is an unjustified restraint on the market.
How in hell is it gouging?? You don't have to buy it.