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How 'Grinch Bots' Are Ruining Online Christmas Shopping (nypost.com)
Yes, U.S. Senator Chuck Schumer actually called them "Grinch bots." From the New York Post:
The senator said as soon as a retailer puts a hard-to-get toy -- like Barbie's Dreamhouse or Nintendo game systems -- for sale on a website, a bot can snatch it up even before a kid's parents finish entering their credit card information... "Bots come in and buy up all the toys and then charge ludicrous prices amidst the holiday shopping bustle," the New York Democrat said on Sunday... For example, Schumer said, the popular Fingerlings -- a set of interactive baby monkey figurines that usually sell for around $15 -- are being snagged by the scalping software and resold on secondary websites for as much as $1,000 a pop...
In December 2016, Congress passed the Better Online Ticket Sales (BOTS) Act, which Schumer sponsored, to crack down on their use to buy concert tickets, but the measure doesn't apply to other consumer products. He wants that law expanded but knows that won't happen in time for this holiday season. In the meantime, Schumer wants the National Retail Federation and the Retail Industry Leaders Association to block the bots and lead the effort to stop them from buying toys at fair retail prices and then reselling them at outrageous markups.
In December 2016, Congress passed the Better Online Ticket Sales (BOTS) Act, which Schumer sponsored, to crack down on their use to buy concert tickets, but the measure doesn't apply to other consumer products. He wants that law expanded but knows that won't happen in time for this holiday season. In the meantime, Schumer wants the National Retail Federation and the Retail Industry Leaders Association to block the bots and lead the effort to stop them from buying toys at fair retail prices and then reselling them at outrageous markups.
Actually, Smith warned that this sort of rent seeking needs to be regulated lest the economy go in the dumper.
He was thinking of absolutely anything that might sell in the marketplace. If scalpers were creating a toothpick shortage, that would also be proper subject for regulation.
Credit cards are not so easy for stupid people to acquire.
I got a Discover card with a $500 credit limit when I was 17. I used it to fly down to Virginia Beach and partied my ass off until it capped. Then they Discovered that I couldn't pay them back. You see, I just got out of high school. I never had a job.
I've heard rumors that people have gotten credit card offers in their pets names. I don't know if it's true or not, but I wouldn't doubt it.
Jeez. What do you get the kids if they are bad, a vial of mercury?
No. As a neurotoxin, it is likely that mercury would make their behavior even worse. Gallim is physically similar to mercury, but non-toxic. It is a lot of fun to play with. You can pour it into a mold, pop it into the refrigerator, and make metal parts. Then just hold it in your hand and it will "disappear" back into a liquid.
Of course, I get my kids the chemicals and other dork stuff in addition to the Barbie accessories, except when I can double dip by buying something that is both, such as Scientist Barbie.
The card issuer made a couple percent of every transaction you made in merchant fees. They did just fine with your responsible use. The deadbeats who carry a balance are just the icing on the cake.
Man, you really need that seminar!
Because not every inconvenience or problem needs a government solution, law, and regulation.
This is not an issue that should even take a penny or second of government time or attention.
As a country, we were clearly designed to create laws that takes away anyone's liberty only as a last resource. Even if that liberty is for one person to buy a billion widgets, destroy them so there is only one left, then sell that remaining one for a gazillion dollars.
We read about 1984 and big brother and then turn to the government to watch and control all problems we run into.
What's next? Should the government step in and sue nintendo and apple for not producing enough product to keep up with demand? To sue movie theaters for wasting theater space on art movies when big blockbuster movies are sold out?