"If they actually tried to raise all the hourly pay of the low-skill workers to $15 an hour, Wal-Mart would lose 80% of its profits. They would have to get rid of their dividend, the stock would crash, [and] the whole business would fall apart. It doesn’t work. The only way to do it would be to raise prices and they would have to raise it not a trivial amount. It would have to be a decent amount to offset the reduction in sales that would come from the higher prices themselves." - in Yahoo Finance
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. Visit the new website Schiff On The Markets for exclusive content.