Saturday - April 04, 2020

Is capitalism now a crime?

Where do you draw the line between profit and profiteering? Should there even be one? What really is price gouging, other than reacting to market conditions? Ever read the James Clavell novel King Rat??

We’re in this emergency situation ... or we’re being lead to believe we’re in one. One of the major changes has been a massive increase in government power. Never let a crisis go to waste, right?

Here’s another case.

Brooklyn Guy Busted For Hoarding | Price Gouging

Federal agencies confiscated tens of thousands of medical supplies from a Brooklyn man who had been selling them at illegal marked-up rates from warehouses in New York and New Jersey.

The supplies have been sent to health departments in New Jersey, New York City and New York state, which will provide them to healthcare workers treating COVID-19 patients.

Among the items seized from the home of Baruch Feldheim, 43, were 192,000 N95 respirator masks, 130,000 surgical masks, procedure masks, N100 masks, surgical gowns, disinfectant towels, particulate filters, bottles of hand sanitizer, and bottles of spray disinfectant, according to the Department of Justice.

Feldheim was arrested Monday and accused of accumulating the items in order to sell them to doctors and nurses at inflated prices, according to New Jersey U.S. Attorney Craig Carpenito. Some of the supplies had been shipped from Canada, investigators said.

Feldheim was released March 30 on $50,000 bond. Feldheim will be paid fair-market value for the supplies, according to the Department of Justice.

“This is the first of many such investigations that are underway,” said Peter Navarro, DPA Policy Coordinator and Assistant to the President. “Our FBI agents and other law enforcement agencies are tracking down every tip and lead they get, and are devoting massive federal resources to this effort. All individuals and companies hoarding any of these critical supplies, or selling them at well above market prices, are hereby warned they should turn them over to local authorities or the federal government now or risk prompt seizure by the federal government.”

“If you are amassing critical medical equipment for the purpose of selling it at exorbitant prices, you can expect a knock at your door,” said Attorney General William P. Barr. “The Department of Justice’s COVID-19 Hoarding and Price Gouging Task Force is working tirelessly around the clock with all our law enforcement partners to ensure that bad actors cannot illicitly profit from the COVID-19 pandemic facing our nation.”

Sure, the guy was making a killing. But how is it that he was able to get his hands on this much PPE in the first place? Come on, get real, you KNOW he had none of this stuff on hand before Hannukkah. And tell me, please, what’s the price point line for this stuff? Just how much was he marking them up? Where’s the line?

Back when this all first hit, I bought 2 N100 masks from Amazon. 3M brand particular respirator model 8233. They cost me $13.60. EACH. It took weeks for my order to be delivered. I don’t know what these things used to cost, back in the days of reality. Because I’d never heard of the things, and when I did a bit of mask research, I found these were the best you could get. So I bought some. Better safe than rich, right? Did they used to cost a buck each? I have no idea. Maybe our all-powerful government will publish pricing guidelines, wholesale and retail. Control the market. Freeze the prices, like Nixon did. And that worked out so well, right?

I notice that the seller, Hugo’s, no longer has the masks. But they do have toilet paper. Commercial size rolls, unknown brand, 2 ply, great big 500 sheet rolls. Carton of 96 for $123.64. So that’s 4 times as many rolls as the big 24 pack you can buy in the store, and each roll is quite a bit bigger. So figure it as equal to 5 24 packs. Do those cost $24 each? Or are they only $12? Is this price gouging too? 

Posted by Drew458     on 04/04/2020 at 11:25 AM   
Filed Under: • Finance and Investing • FREEDOM • Jack Booted Thugs • Pandemic Pandemonium •  
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