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Peter Schiff - Less Government or Lower Wages? You Decide.

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August 14, 2009 – Comments (11)

The nationwide revelry surrounding our apparent economic recovery was disrupted this week by the release of lower-than-expected retail sales data. However, rather than sending a chill up the spines of those hoping for a quick end to the downturn, the numbers should be welcomed. Though this may come as a surprise to most observers, lower retail sales are precisely what our economy needs.

Full article

Plus... Peter Schiff on Fox Business (Aug. 13, 2009)

11 Comments – Post Your Own

#1) On August 14, 2009 at 2:19 PM, fransgeraedts (99.92) wrote:

How about more government and higher wages?

fransgeraedts

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#2) On August 14, 2009 at 2:35 PM, catoismymotor (35.54) wrote:

I would like to see a smaller federal government. Just let me keep more of the money I now make and I will be content for a while.

 

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#3) On August 14, 2009 at 2:43 PM, catoismymotor (35.54) wrote:

kdakota630,

Thank for posting the link.

Cato

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#4) On August 14, 2009 at 2:56 PM, kdakota630 (29.56) wrote:

No problem, catoismymotor.

BTW... is your name a partial rip-off of a Cake song?

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#5) On August 14, 2009 at 3:15 PM, madcowmonkey (< 20) wrote:

I do the catastrophic insurance and that is it. Family of four. People already have this option, but I do agree that the employee and employer could come to an agreement with this issue. It could save companies and its employees money, if run correctly. I agree with those points.

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#6) On August 14, 2009 at 4:10 PM, 4everlost (29.43) wrote:

fransgeraedts

"How about more government and higher wages?"

How?

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#7) On August 14, 2009 at 9:17 PM, devoish (98.37) wrote:

Hey Peter,

Excellent idea. whats your model country?

Excellent idea. When your father was selling $15.00 catostrophic insurance in the 60's were top earners getting 50 times lower wage earners or 450 times like today?

Excellent idea.

Let me know where free markets are delivering affordable healthcare to low wage earners, like you suggested free markets can.

 

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#8) On August 16, 2009 at 1:19 PM, caterpillar10 wrote:

Though this may come as a surprise to most observers, lower retail sales are precisely what our economy needs.

 

.......no surprise here - we did a yard sale last weekend on a VERY quiet cul-de-sac @ about 100 degrees out and no ads, w/lotsa stuff - complete sell-out. people are buying like crazy - and then showed up all day Monday 2c about remainders - there were none. the demand is out there but until personal surpluses adjust out stores are a last resort. been doing these occasionally for 40 years - never saw one like this, ever.    

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#9) On August 16, 2009 at 2:25 PM, DownEscalator (< 20) wrote:

Devoish - with modern health care, that's never been tried.  Peter's point isn't that the free market can deliver affordable health care to low wage earners (that might be an impossibility - if it is, the government has no business trying it).  He just wants the free market to be given a fair chance.  They aren't because most doctors knowingly spend more than they normally would to shield against lawsuits, and many of them aggressively bill insurance companies to compensate for under-billing the government (as someone who worked in a health clinic, I assure you the government is a poor health care option) and the uninsured, both of whom have significantly lower chances of paying than the insurance companies.

For a low-wage 40-year old non-smoker, an individual health insurance plan costs around 115/month or about 1400/year in my area (w/ Blue Cross/Blue Shield).  If they were allowed to function in the free market, it would likely drop to around 1100/year, which for someone making 18-20k after taxes is entirely affordable.

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#10) On August 17, 2009 at 9:08 AM, catoismymotor (35.54) wrote:

Re: #4

kdakota630,

Yes it is. Good catch!

Cato

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#11) On August 18, 2009 at 5:41 PM, kdakota630 (29.56) wrote:

I thought so a while back, but finally got around to asking.

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