4 ms·

I hope you hold zero stocks and zero bonds.

grogenaut 7y ago
You don't put a share of stock on your face to go treat a patient. You don't clean up from touching packages or other things with a share of stock. They're not the same thing. I don't even know what point you're trying to make or what you're trying to get out of it. I know we're all bored and stir crazy but maybe now isn't the time.
- H8crilA 7y ago
  The use of the word "profiteers". It either assumes wrongdoing, in which case we can talk about ethics or law separate from the profit, or just making profit in general, in which case see my comment on stocks and bonds. Being successful in securities markets largely depends on exploiting other people's mistakes (which create mispricings).
  - salawat 7y ago
    There's a difference between making a reasonable profit, and an unconscionable one. The latter is what the poster seems to be referring to.
otterley 7y ago
Making a profit is not the same as profiteering. The relevant statutes define what the latter is.
- ModernMech 7y ago
  What about something like charging $500 per month for insulin?
  - otterley 7y ago
    What about it?
    - ModernMech 7y ago
      Well, I mean it seems like profiteering to me.
      - H8crilA 7y ago
        Is there any good analysis of that? I'm not saying it's not "profiteering", I just find it puzzling that nobody had undercut them on prices yet. There must be a reason, and health care is very complicated, so I'm not even trying to generate hypotheses on my own (I'm definitely not qualified for that). I have little hope that those "hearings" will actually find the root cause of the problem. Related: see the old Martin Shkreli videos where he ruthlessly goes over the list of all drugs to find something where his company/companies can undercut the pricing of the status quo, looking for the highest margin profit potential / assumed fixed cost ratios. He is (well, was) obviously not the only one.
      - otterley 7y ago
        What “seems like” profiteering isn’t necessarily aligned with what the law is. Did you read any of the statues? Here’s an example for California: https://oag.ca.gov/consumers/pricegougingduringdisasters https://oag.ca.gov/consumers/pricegougingduringdisasters
        ModernMech 7y ago
        I understand what "the law" says. I also know who writes the laws. I mean from a moral/logical standpoint it seems like profiteering. I guess I don't understand the difference between people taking advantage of others by price gouging during a disaster, and corporations taking advantage of people by price gouging due to a life threatening medical condition.
        salawat 7y ago

You don't put a share of stock on your face to go treat a patient. You don't clean up from touching packages or other things with a share of stock. They're not the same thing. I don't even know what point you're trying to make or what you're trying to get out of it. I know we're all bored and stir crazy but maybe now isn't the time.

H8crilA 7y ago
The use of the word "profiteers". It either assumes wrongdoing, in which case we can talk about ethics or law separate from the profit, or just making profit in general, in which case see my comment on stocks and bonds. Being successful in securities markets largely depends on exploiting other people's mistakes (which create mispricings).
- salawat 7y ago
  There's a difference between making a reasonable profit, and an unconscionable one. The latter is what the poster seems to be referring to.

otterley 7y ago

Making a profit is not the same as profiteering. The relevant statutes define what the latter is.

ModernMech 7y ago
What about something like charging $500 per month for insulin?
- otterley 7y ago
  What about it?
  - ModernMech 7y ago
    Well, I mean it seems like profiteering to me.
    - H8crilA 7y ago
      Is there any good analysis of that? I'm not saying it's not "profiteering", I just find it puzzling that nobody had undercut them on prices yet. There must be a reason, and health care is very complicated, so I'm not even trying to generate hypotheses on my own (I'm definitely not qualified for that). I have little hope that those "hearings" will actually find the root cause of the problem. Related: see the old Martin Shkreli videos where he ruthlessly goes over the list of all drugs to find something where his company/companies can undercut the pricing of the status quo, looking for the highest margin profit potential / assumed fixed cost ratios. He is (well, was) obviously not the only one.
    - otterley 7y ago
      What “seems like” profiteering isn’t necessarily aligned with what the law is. Did you read any of the statues? Here’s an example for California: https://oag.ca.gov/consumers/pricegougingduringdisasters https://oag.ca.gov/consumers/pricegougingduringdisasters
      - ModernMech 7y ago
        I understand what "the law" says. I also know who writes the laws. I mean from a moral/logical standpoint it seems like profiteering. I guess I don't understand the difference between people taking advantage of others by price gouging during a disaster, and corporations taking advantage of people by price gouging due to a life threatening medical condition.
        salawat 7y ago