Peter's Blog

Better Get Ready; Central Bank Digital Currency Is Coming

You had better get ready for the world of central bank digital currencies (CBDCs) because they are coming. And they are coming fast. According to a recent survey by the Bank for International Settlements (BIS), as many as 24 CBDCs could be in circulation by 2030.

Fiscal 2023 Budget Deficit Already Higher Than Last Year’s Total With Three Months to Go

With three months left, the fiscal 2023 budget deficit has already eclipsed the massive 2022 shortfall. The US government ran a $227.77 billion deficit in June, pushing the total fiscal 2023 shortfall to $1.393 trillion, according to the Monthly Treasury Statement for June.

Just What the Fed Ordered! CPI Comes In Lower Than Projections

The Federal Reserve got just what it needed – an even cooler-than-expected Consumer Price Index (CPI) report card for June. This could give the central bank a plausible excuse to back off its inflation fight. But make no mistake, inflation isn’t dead or buried.

The Federal Reserve Should Invest in a Dartboard

Most people believe members of the Federal Reserve are highly trained experts who are imminently qualified to run monetary policy.  Guided by this perception, the mainstream treats Fed pronouncements as gospel. But if you compare Fed projections to actual outcomes, it looks like they’re just guessing. In fact, you would probably get more accurate results […]

An Amazing Freak Show: Treasury Increases National Debt By Over $850 Billion in Just One Month

A month ago, the fake debt ceiling fight ended and Congress suspended the federal government’s borrowing limit for two years. Since the debt ceiling deal, the US Treasury has added a staggering $851 billion to the national debt.

Happy Insurrection Day!

Today we celebrate insurrection. No. I don’t mean the fake Jan. 6, 2021, “insurrection.” I’m talking about the bonafide insurrection staged by American colonists against the British government. We call July 4 “Independence Day.” But the British called it an act of rebellion.

Fed Economists Warn of Looming Disaster Due to High Interest rates

A note recently published by two Federal Reserve economists reveals a looming catastrophe. The Fed’s interest rate hikes have already precipitated a financial crisis. The central bank managed to paper over that problem and get it out of the headlines with a bailout program. But it didn’t solve the problems. Banks continue to tap into […]

Interest on the National Debt Poised to Rise at an Alarming Rate

Since the end of the fake debt ceiling fight on June 2, the Treasury has borrowed an additional $700 billion pushing the national debt over $32 trillion. Looking at the interest rates on this new debt, it becomes clear that the US government has a big problem.

What Would the Founding Fathers Say About Our National Debt?

The national debt recently blew past $32 trillion. As we approach America’s birthday on July 4, it might be a good time to consider what the founding fathers would have thought about this massive indebtedness.

What’s Going on With the Fed Balance Sheet?

We tend to focus a lot on the Federal Reserve’s interest rate policy, while the central bank’s balance sheet stays in the background. But the balance sheet arguably has more impact on the economy over the long run. Since the Fed began hiking interest rates in March 2022, it has also shrunk the balance sheet. […]