PETER SCHIFF

PETER SCHIFF

Monday, December 16, 2013

Will Walmart shoppers support "Every Day High Wages?"


 Walmart touts "Everyday Low Prices," but we asked its customers to support 'Everyday High Wages" instead. We posed as representatives of "15 for 15," a make-believe organization advocating that Walmart raise prices by 15% and use the extra cash to pay its low-skilled workers $15 dollars per hour. Not surprisingly few shoppers supported our cause. Even those who felt Walmart workers should be paid more did not want to pay higher prices themselves to make it possible. Those demanding higher wages for Walmart's workers should consider the importance of low prices to Walmart's customers.


Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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