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September 2, 2013

Our Impoverished Citizenry Can No Longer Support The Airline Industry We Once Had

"The truth is that our impoverished citizenry can no longer support the airline industry we once had. That's why American and U.S. Air had to merge in order to stay competitive and profitable. That is the sad truth behind the headlines. The government is correct about one thing, the merger would result in fewer choices and higher fares for customers. But given the reduction of our living standards that outcome is impossible to avoid. If our government really wants to protect consumers and allow for more affordable air travel, a better solution would be to reverse the destructive policies that made the merger necessary in the first place. Ironically blocking the merger could result in more flight reductions and larger fare increases than what might have been the case had the merger been allowed." - in Economic Policy Journal

Related Stocks: US Airways Group Inc(NYSE:LCC), AMR Corporation (OTCMKTS:AAMRQ), Delta Air Lines, Inc.(NYSE:DAL), Southwest Airlines Co. (NYSE:LUV)

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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