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Do you remember what happened on May 7th of this year? The Colonial Pipeline, which originates in Houston, Texas, and carries gasoline to the Southeastern United States and the Eastern Seaboard , suffered a ransomware cyberattack by a cyberattacker known to operate in Russia. The cyberattack, which impacted computerized equipment that manages the pipeline, is believed to have been at least tacitly approved by the Russian government.
Soon afterward, demented Joe Biden warned gas station owners against price gouging. He said , “I also want to say something to the gas stations: do not, I repeat, do not try to take advantage of consumers during this time. I’m going to work with governors of the affected states to put a stop to price gouging wherever it arises… Nobody should be using this situation for financial gain.”
Okay, we’ve been put on notice by Demented Joe to not price gouge because it takes advantage of consumers. So it’s worth our time and effort to study what it is. And to see how Joe ignores his own warning.
Price gouging occurs when a seller increases the prices of goods (and/or services) to a level much higher than what is considered fair. ThoughtCo.com offers this : “Price gouging is loosely defined as charging a price that is higher than normal or fair, usually in times of natural disaster or other crisis… Price gouging is typically thought of as immoral, and, as such, price gouging is explicitly illegal in many jurisdictions.”
If supply changes and the price doesn’t change (no price gouging), a shortage will always develop. When a shortage occurs, the supply of the goods always gets rationed in some way — perhaps by people who showed up first ( panic buyers ?), maybe by people willing to pay the higher (gouged) price to the goods’ owner.
The important thing to remember is that everyone gets as much as they want at the original price is not an option.
Higher prices will allocate the supply of goods to the people who value them most. When the supply of goods is fixed and prices are used to allocate goods, […]
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Yes, We Need Your Help
I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…
When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.
Many in this nation are struggling right now even though we weren’t struggling just a few years ago. I’m not alone. But I wake up every morning and operate the sites we’ve been able to build because there’s really no other choice. I refuse to be beholden to Big Tech like so many other conservative news outlets, which is why you won’t see Google ads here. With that said, it’s often challenging to pay the bills and it’s even harder to expand so we can get the America First message out to a wider audience.
The economic downturn has forced me to make a plea for help. Between cancel culture, lockdowns, and diminishing ad revenue, we need financial assistance in order to continue to spread the truth. We ask all who have the means, please donate through our Giving Fuel. Your generosity is what keeps these sites running and allows us to expand our reach so the truth can get to the masses. We’ve had great success in growing but we know we can do more with your assistance.
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I would even be willing to entertain investments and partnerships at this stage. I’ve turned them down in the past because editorial purity is extremely important. I’ll turn them down again if anyone wants us to start supporting RINOs or avoid “taboo” topics like voter fraud, vaccines, or transgender supremacy. But I’d talk to fellow America First patriots who want to help any (or all) of our 10 news sites. Hit me up at jdrucker (at) substack (dot) com if you’re interested.
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