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It is a common misconception that low wages are the main factor influencing prices. The reality is that low capital costs, and the absence of taxatio… - Peter Schiff
" "It is a common misconception that low wages are the main factor influencing prices. The reality is that low capital costs, and the absence of taxation and regulation, are far more important.
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About Peter Schiff
Peter David Schiff (born March 23, 1963) is an American businessman, financial commentator and author noted for his predictions of the housing market crash in 2005, support for unregulated markets and reduction of the powers of federal government. He was a Republican candidate for one of the Connecticut Senate seats, against veteran politician Democrat Chris Dodd.
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Peter David Schiff
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Additional quotes by Peter Schiff
Borrowing to build factories is not the economic equivalent of borrowing to buy television sets, and it’s amazing just how few modern economists can see the difference...Borrowing to produce is the way poor countries become rich. Borrowing to consume is the way rich countries become poor. A vivid example of the latter is the stream of container ships unloading at U.S. ports and going back empty because we have nothing to ship.
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Authors@Google: Peter Schiff (2009)
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