Giving With One Hand And Secretly Taking Away With The Other

"Politicians can impose a high minimum wage to pander to voters, but then count on inflation to lower real labor costs, thereby limiting the unemployment that would otherwise result. So what the government openly gives with one hand, it secretly takes away with the other. Workers vote for politicians who promise higher wages, but those same politicians also create the inflation that negates the real value of the increase. But while government takes the credit for the former, it never assumes responsibility for the latter." - in Meet "Lowflation" 

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You can keep reading Peter Schiff`s market updates and commentary on this new website: Schiff On The Markets (click on the link or on the image below to access the new site)

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.