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Topic: Gas Prices in your area
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Frank Angel
Film God
Posts: 5305
From: Brooklyn NY USA
Registered: Dec 1999
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posted 10-10-2008 07:54 AM
quote: Jason Black
Supposed shortages in NC/SC but I think it's more related to price gouging than a true shortage.
So what exactly is "price gouging" in a free market where competition is supposed to be the natural regulator of prices? I mean, who decides that and based on what? If one guy is selling gas at $3.15 a gal and another is selling it for $3.50, is that price gouging or just one guy thinks he can make more profit? And if some gov agency can say, you can't charge higher than $n a gallon because that would be price gouging, then why can't they say, anything over $2.50 is price gouging? Seems like the govenment intefering by claiming price gouging is just a wimpy form of regulation. And if they are going to regulate, then they should get a set of balls and do it. Freeze the price or cap it or whatever other nafarios things they do when they step into the socialism quicksand, but if it is NOT regulated, then they should keep their nose out of it and let the market do what it's going to do. Capitalism sometimes is painful. And I am not saying that I disagree with regulation in some instances, but if they are going to do it, then bite the bullet and get off the fence.
I admit I don't understand any of this, and I guess I've got representatives in congress representing me, because it seems THEY don't understand any of it either! How is it for example, that everyone is saying there isn't enough money for heathcare and for the infrastructure and for education and they are holding the candidates feet to the fire to explain how they are going to pay for all the stuff they claim they will fix once they get elected.....how will they possibly find the money to do this and that and the candidates are stumbling all over themselves trying to explain how they can do it without raising taxes. Yet, all of a sudden, in less than two freakin weeks, they are able to find 700 BILLION DOLLARS to give to the banks? Where was THAT money hiding? And why don't they go back there and get some more for us? Oh, yah, they say it's OUR money, so how come all this time they weren't using it to do all the stuff for US -- you know, all that stuff everyone agrees needs to be done?
They say we have a deficit of trillions. Well I'd like to know who is lending us all this freakin money.....and how come they keep on lending us more without wanting any of it back? I know if I owe a couple of grand on a credit card and I skip a few payments, they sure as hell come banging on the door wanting that money. Like I said, I don't understand any of it. All I know is, every summer just before driving season, the price of gas goes up -- supply and demand. OK, I get that. But then in the fall, AFTER the driving season is over and demand relaxes, the price goes back down a bit, but NEVER to where it was before.
Price manipulation is like pornography....I can't give you a precise definition of it, but I know it when I see it.
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Bobby Henderson
"Ask me about Trajan."
Posts: 10973
From: Lawton, OK, USA
Registered: Apr 2001
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posted 10-10-2008 08:49 AM
Another 10¢ price drop.
87 octane here in Lawton is now at $2.79 per gallon. Currently, the price of oil is trading for just under $80 per barrel.
I would be smiling about that. But it's kind of hard to do so with the Dow Jones losing over 2000 points this week (with another 500+ point drop just in the opening minutes of trading this morning). This time last year, the DJIA was near 15000 points. Now it's struggling to stay above 8000.
quote: Frank Angel
How is it for example, that everyone is saying there isn't enough money for heathcare and for the infrastructure and for education and they are holding the candidates feet to the fire to explain how they are going to pay for all the stuff they claim they will fix once they get elected.....how will they possibly find the money to do this and that and the candidates are stumbling all over themselves trying to explain how they can do it without raising taxes. Yet, all of a sudden, in less than two freakin weeks, they are able to find 700 BILLION DOLLARS to give to the banks?
The government does not have any of that money. They borrow it. They do so through selling bonds and all sorts of other stuff. The United States has a $52 trillion unfunded liability -that's the combined total of our $10 trillion+ in government debt along with another $40 trillion+ largely going into funding our absurd health care system. Still, the United States government has a much larger "credit line" than most banks.
I'm concerned the "cascading" crash we have seen on Wall Street is just the beginning. That's just from the massive correction happening in the housing/mortgage industry. IMHO, the health care sector and higher education sectors are due for massive corrections too. Both industries have had runaway price inflation for all of this last decade while personal income growth has remained stagnant.
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