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Schiff Report Video Blog Sept. 3rd 2010
Comments
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@twk373 I saved up in gold & quit. I will not work for any employer that pays too little. I am the employee and it is my business to say if the wages are too low. I have and it is always my business. You can never stop it from being my business: it is always my business at all times no matter what.
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@TWSceptic I am the King of economics. Wages are too low by promising less than inflation in raises & lower by promising pensions which are never to be paid. Supply & Demand are distorted using fraud. This is slavery.
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Peter Schiff on Fox about wages Let them eat cake: ." [The minimum wage] keeps people poor. [It] does is says that if a person that has very little skills, and generally they're young or they're poor, you can't hire them unless they can produce $7.25 worth of value, but it's not just that. It also has to compensate you for all the mandatory benefits and taxes ...And people that have no skills, it's not just worth it to hire them -- maybe $3 or $4 an hour, if that's what they're worth".
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@twk373 "and people voluntarily avoid being defrauded" No they don't. People are volunteering all day every day to be defrauded. Only a very small % are refusing to take a risk or believe a pitch. A few more are being told and holding off, never quite sure but a little cautious. the rest jump right in & demand their money to be stolen in what is obvious to the smarter people but then act surprised when they get robbed just as everyone told them would happen.
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@twk373 the only way to prosper as a fraudster long-term is to have a free market. Free markets can't let anyone sue anyone and turn to 100% fraud without a controlling mechanism. Like execution. Confiscation. Kidnapping. Having "laws" is just turning to the state for violence which merely encourages their executive-corruption. Same for courts. There's no way out: free markets promote fraud. Stomping down fraud requires destroying the free market.
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@twk373 nothing is illegal in free economies, just priced differently. Free markets regulate nothing. If someone defrauds you that's the new price: something for nothing. It stops when the market wakes up & refuses that price. In a managed economy there are laws. Something-for-nothing fraud is worse than inflation, it is easily happening in free markets. That's why we need anti-fraud, anti-freemarket principles. OR that you have NO RECOURSE ever for fraud. One MUST be chosen.
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@shalcall please get yourself an education, mine is far beyond what you can imagine and certainly beyond beginner economics or the fraud that passes for education in schools for economics.
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@germana00 are you sure you read my comment properly? I can't imagine ever making arguments that min wage makes anything illegal. What I've been arguing is that a lack of minimum wage makes slave-labor legal and encouraged, which is why we must always have one.
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Which is more important, speculating on when the Titanic will sink, or getting off the ship? Highly recommend watching the YouTube video WHY WE ARE IN SO MUCH DEBT. It provides the simplest and clearest explanation yet of why our money is robbing us of prosperity.
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@twk373 managed economies STOP FRAUD because stopping fraud is called MANAGING you dumb fuck. Wake the hell up. The precise and only alternative is to ACCEPT FRAUD which always promotes more fraud. There are only 2 choices: accept it or stop it. Stopping it IS MANAGEMENT. VOLUNTARY transactions of 100% DISHONEST INFORMATION is ABSOLUTELY DANGEROUS and THIEVING and is no better than robbery at gun-point.
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@razerfish free markets promote prosperity for fraudsters and thieves, of course. There's no consequence for being a thief or fraudster so the absolute application of profit is thieving to excess and great success. The protectionist style I mention is the only way not to be destroyed as a civilization, the other choice is suicide as sure as eating cyanide. I'm proud of showing the truth, not embarased. You should be ashamed. The "iron law"? BULLSHIT ON YOU.
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@ytgv3fc7 Nonsense. Free market economics promote prosperity if anything. You have it completely backwards. The protectionist, interventionist style of economics you support promotes all the ills you mistakenly blame free markets for. And the old 'iron law of wages' nonsense was debunked back in the Industrial Revolution. Try to keep up. You're literally gotten everything you've written wrong. You should be quite embarrassed.
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@twk373 free-market economics promote fraud, low quality and high prices at all times, that's 100% flaws and 0% benefit. Managed economies are the only economies worth having, everything else is war-fare.
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@twk373 You are completely wrong. Jobs are not voluntary when the opposite is DEATH. Working for food is not voluntary, it's MANDATORY, so if the only wages you can get are enough to cover food, then you're a slave. Many people are: refusal to volunteer = immediate suffering and soon to be death. Buy-or-die markets are the capitalist tool of slavery. The fact is wages are too low for some jobs and this must be reversed permanently.
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@twk373 just about every word spoken, and quite a number of situations. Canadian: how come this battery doesn't work with my phone? Answer: wrong voltage. American: how come mah fonez didn't work, y'all? the screen is good though" -> is it a sticker? "ya ... " Sir, that's a toy phone not a real phone. Is that a display phone? "ah man, I gots ripped off!!!" REAL STORY.
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@jezza1789 but of course in the long run, once the US goes out of the emergency room, it will need to change its course and do things that Peter Schiff, marc faber, jim rogers, ron paul and the likes are advocating. Cut spending, saving, small government, manufacturing blah blah blah, we all know that. The problem is people like you keep blasting other opinions without even thinking for a second. I agree with the "REAL" solution but we just need the temporary fix as badly.
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@jezza1789 You never get my points right! Again I think we both agree the eventual outcome. The US is declining for sure. The bubble economy cannot go on forever. Every person on this planet will agree with that. I just suggest that the US dollar weakness and debt problem are not as serious as you think. There're still a lot of values in the US dollar. So I actually agreed with Krugman, it's okay to print money and create make-work gov. projects to keep people employed in the SHORT TERM.
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@page826 A King can always consume and ask other people to produce for him, as long as no one challenge its position as a King, and no one has the power to overthrow him. The US is still the King as of today. It controls oil and the monetary system. In theory, the US does not need to produce.
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@jezza1789 they need to stay there because the US need to continue to control the natural resources there and protect the petro dollar. They are not really defeated physically.
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@jezza1789 Ok so do you think there is another army that can crush the US face to face? They lost because they are not fighting an actual war. They are trying to maintain control and occupation of a foreign country and that's why they can never retreat.
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