20 votes

Peter Schiff at Walmart


I really hope Peter runs for the Senate again and joins Rand.

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You can't protest like this in public. In real life he would have had a SWAT team stomping his face in the ground in 4 seconds.

Defeat the panda-industrial complex

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I understand the premise but

I understand the premise but how does placing low-income families who can only afford cheap goods up with Walmart low-income workers helping any from this video? Should it not be obvious by now that people want their cake and eat it too with today's beast system?

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It makes me very happy

when people use the term 'beast system' and/or Beast. Most people think of the 'Beast' as some sort of man or a creature, rather than the 'system' that it represents, whether it be false religion and idolatry, or the very Beast that we live within. Or I could just be wrong, and completely misunderstand your wording. :) either way I like it.

Lot's of emotionalist

Lot's of emotionalist Marxists here who wouldn't know what freedom is if it actually existed.

real simple,
charge what the market will bear

pay what the market will bear

I know, Wal-Mart forces people to shop and work there, they have no other choices. When you choose a career of cashier don't expect a lot of income, sorry to disappoint.

Always blame the corporation for everything, those horrible sweatshops, are they forced to work there? Oh there's nothing else available so what's the alternative, starve?

I love these so called libertarians here, doesn't appear that they know where the word libertarian came from, maybe... liberty, which means freedom. Freedom means that you live your life without other people using force (govt)to impose their idea of the good on you.

How about minding your own business and Shutting TFU.

"I know, Wal-Mart forces

"I know, Wal-Mart forces people to shop and work there, they have no other choices. "

walmart does not force anyone to shop at their store and they do not force anyone to work there.

The main problem is...

the profit margins that the 1% Waltons receive is way too high. Give back to the community because you have already destroyed the mom and pop model and most midtowm Americas.

mom and pop destroyed themselves

by not adapting to the efficiencies of their competitors

LKY's picture

That is not entirely true.

That is not entirely true. Mom and Pa store didn't destroy themselves by inefficiency. They simply could not afford all the regulations that have been imposed by the government. Yet, these regulations are there mostly because the big corporations could hire lobbies to put them in! Walmart is part of the group that using government power to squeeze out those local M & P stores.

For example, Walmart is so big that they can hire a handicap person as a greeter for every single store. Then, a handicap employee restroom is required in the regulation for anyone who wants to runs a merchant and grocery store. How can a M & P store spend hundreds of thousand dollars to renovate a restroom for handicap when they don't intend and can't afford to hire one! Yet, they have only two choice to keep it open. Compliance or close!

economies of scale

Walmart appeals to consumers more than mom & pop does, partly because they can offer one-stop shopping.

Also Walmart prices are lower because of the economies of scale. Walmart purchases their products cheaper because they buy in bulk.

It's a win-win-win situation. Win for Walmart and win for the consumer.

Also, it's a win for mom & pop because they realized their their efforts are put to better use doing something else, since Walmart does a far better job of helping the consumer.

Sounds like a republican

Sounds like a republican neocon ignorant response, are you a follower of rush Limbaugh too?

If there was actually a free market that existed that might be an accurate statement but in the "good ol us of a the "free" market is more regulated than in communist countries by a big margin.

There's only a business or 2 left in the usa that can be considered as the last bastions of free enterprise and they are now among the most heavily "watched" business. One is the rare coin industry which along with the cannabis ( the legal one ) business as the last holdouts of free enterprise however in cannabis there's hard and fast taxation.

It's way beyond failing because of not adapting. Some business have simply been crushed out of existence by regulations and taxes. But wait, see how smart the new generations are? This place in 10 years won't be recognizable to today.

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine, Godfather of the American Revolution

and you sound like a fool

Walmart provided products at a price people preferred over the so called mom and pop stores. Simple economics. All the nostalgia of mom and pop stores don't take into account that fact. Customers chose Walmart, mom and pop didn't adapt. End of story

Been 100% wrong on his

Been 100% wrong on his precious metals investment advise.

A neocon disguised as someone who cares about freedom/libertarian but in reality only cares about the money, position and power. he would make a good running mate with rand paul and his ilk. He can join up with the chris christies of the world as well and frankly at least chris chistie isn't a turncoat. A neocon yes but turncoat liar no.

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine, Godfather of the American Revolution

LOL the fakers are out in

LOL the fakers are out in force! stand with rand! lol

How anyone can support the type of lowlife that guy is, for what he did. Then again there's lots of those types that support all kinds of liars, cheats,thieves and murderers. It takes balls and real integrity to stand on principle. Not much of that is here.

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine, Godfather of the American Revolution

Nope not wrong.

You're seeing a temporary and NORMAL low in the precious metals as him being wrong? That conclusion is in fact wrong and shows how little you understand. Him being right or wrong is not based on how far below or above the investment buying line it is at this moment. It is the end result of the FED stimulus and the American economy as a whole that is why we are buying metals. Also this man was an adviser to Ron Paul. Keep educating yourself friend. you clearly dont understand yet.

Warning my comments may anger a lot of highly educated people who have been taught a lie

Shouldn't you be out saving

Shouldn't you be out saving up to buy a 10 oz silver bar? You are as clueless as they get and do not even know why there's no support. Keep listening to this asshole and you'll be behind the 8 ball the rest of your life and you aren't productive enough to suffer those kinds of losses and be able to take care of yourself without welfare. Mark my words.

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine, Godfather of the American Revolution

This Video is Absurd

If the Walmart workers are going to get paid more, then the cost should not come from the prices or customers, it should come from the 1% Walton family bastards that own the cheap China pipe-lining sweatshop stores.

Peter Schiff is no Mark Dice thats for sure.

Too many downvotes here - I'll reverse one.

Although liberty4us is correct in his claim that "The consumer pays for everything", you are not incorrect in your implication that it is possible to increase wages [to some degree] without increasing prices to consumers. I also disagree with Brian that you are a "Statist", at least not from anything you have revealed here.

"Peter Schiff is no Mark Dice thats for sure."

Thank god! That which about the video reminded me of Dice, is what bugged me about it. So I am grateful for Schiff's falling short of Dice's level of buggery. I wanted to throw up at Dice's video last year in which he sat in his car bellowing condescending crap from his mobile public address system at the line of Walmart sheeple.



If you disagree with me on anything you are not a real libertarian...

The consumer pays for everything

all the taxes, costs, and profit associated to anything they buy. Including the income, social security, medicare, etc taxes costs the company incurs.

Peter Schiff is Peter Schiff

What you call absurd is sound and fair. What does that say for you? You know that feeling you had typing your comment here. How did that feel? It felt like you were right huh? Problem with the economic dunces is that you guys dont get a slap or have to put 2 and 2 together. Your problem is that you being wrong feels exactly like you being right and you never have to take your logic farther than your shallow understanding or biases.

Wages necessarily come from both the seller and the cost from the source as well as operating costs. Any source negotiates a price based on things such as wages to employees

Warning my comments may anger a lot of highly educated people who have been taught a lie

...is essentially Austrian

"Wages necessarily come from both the seller and the cost from the source as well as operating costs"

You're sounding a bit like Paul Krugman there, or perhaps even more nonsensical.

"Any source negotiates a price based on things such as wages to employees"

I can only hope you're implying there that Walmart too, is a customer when buying its retail product from a wholesaler or manufacturer.

The comment from liberty4us directly above yours simplifies it quite nicely and also happens to be quite in line with what Schiff's entire point is in the first place...

"The customer pays for everything"

There ain't no gettin' around that. The cashiers, executives, and stockholders are all "Walmart". Wages, salaries, and dividends are all generated from customer payments. Calculations of such wages, salaries, and dividends come from the mish-mash you list.

really bad response

really bad response here from you, try again.

He's 100% correct. That

He's 100% correct. That greedy 1% you think should be paying the extra costs isn't going to unless their company is in danger. They are going to take the highest compensation for their business model they feel they can while still maintaining market dominance. Why should the business owner take a bath for employees if he doesn't have too? Its his business. He took "all" the risk, and he should get the lion's share of the reward. He should pay his employees the minimum amount he needs to to maintain skilled, reliable workers without loosing them to competition, and they should demand the most compensation their skill and ability are worthy of. This is a negotiation. The wage will meet somewhere in the middle of that negotiation.

If anything is to blame its minimum wage. Its like a store that doesn't haggle. Oh, I make "this." Without minimum wage, people actually demand to be paid what they feel they are worth rather than just submitting to "store policy."

You can be as altrustic as you want, but people who "like" being poor and giving everything away don't "tend" to start massive companies that employ hundreds of thousands of people and bring inexpensive goods to the consumer.

Of course there are a variety of problem with companies like Wallmart, and one questions if they would even exist were it not for the Central Banking empire. However that doesn't change the fact that your fantasy land view that people should have low prices AND high wages by using the government (or fantasy altruistic morality) to make the ones who bled to create the business take a bath and loose on their profits for the "greater good" is ridiculous. That is the envious viewpoint that idelogies like communism are born of.

All of the problems in our economy are there beacause we don't have a free market. In a prosperous free market, wages don't go up. Prices come down. My advice is don't stress about symptoms of a central banking economy. Worry about cutting the head off the serpant so we can return to a free market.

Do you not understand?

You must never have run a business. Wages are an operating cost. Operating costs total in the amount that a business can pay a supplier for goods to resell. The suppliers do pay for the wages by being offered less, usually, for the goods or the items may no longer be carried by the store if the cost can not be negotiated to fit with what the employees want to get paid.

Warning my comments may anger a lot of highly educated people who have been taught a lie

I uderstand the business model

but again the problem should not be funneled down to consumers, especially when the Waltons are all trillionairs.

*knocks on brick wall around your head*

Hello... this is sanity and fair logic trying to get in. Please get rid of your pride and step away from the ignorance

Warning my comments may anger a lot of highly educated people who have been taught a lie


I too, hope he runs again for Senate, and I quite enjoyed his "I am the one percent" video from OWS, but this Mark Dice style of engagement is ultimately too arrogant and creepy for me. It's not educational, funny, or even mildly insightful. In fact, I think this kind of folly will compromise his chances at another shot for Senate.

think... think... before you type your thoughts.

This is educating those who say they support higher wages that there is a cost that they themselves must pay. Not educational? did you turn backwards from the screen and shut the sound off?

Warning my comments may anger a lot of highly educated people who have been taught a lie

I'll meet you halfway.

It is relatively un-educational. Relative to what? Relative to handing out flyers, using a bullhorn, or simply speaking to people directly [as you just did to me] and saying that the higher wages are "a cost that they themselves must pay". The charade of making people look uncomfortable, confused, and stupid by pretending on video to want them to donate a post-purchase surcharge, is for the attempted benefit of Schiff's video audience. His video audience is already educated and can only benefit from its sometimes mildly ironic entertainment value.

Have you actually posted it on Facebook or something, to your union-labor friends?

Okay, you got me, I'll lighten up a bit. Besides, I remain unexposed to the labor protests. Maybe this would make more sense to me if I were familiar with recent shenanigans from other side. Oh, and the last scene in the video is quite good. :D



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