Peter's Blog

Coffee Houses and the Free Market of Ideas

While there’s a far greater amount of information accessible to all, there has rarely been a society where different types of people are able to have less discourse with one another. The ability for various groups to advocate for their beliefs in a hostile environment is greatly diminished by the fragmentation allowed by the Internet […]

How the Founder’s Immigration Vision is Misunderstood

An article meant to disparage Trump‘s first term from a few years ago put forward an idea of the founding father’s vision that was so historically incomplete that it became clear a counterarticle was needed. They write that “Both George Washington and Thomas Jefferson viewed the United States as a place for refugees.” This statement […]

Why Equities Just Might not be the Same Anymore

While for decades, the historically high returns of the stock market have been used to justify putting more money into the stock market, some underlying factors have changed that make this constant growth story no longer as sure of a narrative. While total returns have been buoyed by several massive companies that manage to keep […]

Two Truths and a Lie From Trump’s 2025 Macro Policy

Trump’s tariff regime has led to an extremely unique economic situation. While inflation for some goods is high, many other goods have little inflation, and new job creation is lagging. Any Keynesian economist could weasel their way around this, but it gives compelling evidence against the assumptions of their most revered models. The Phillips curve […]

Think Tanks are Inefficient, but by No Fault of Their Own

Think tanks are often a clear example of when poor government structure makes a market extremely inefficient. While some think tanks have a huge impact, many do almost nothing to create value for those who donate, yet they are still extremely well funded. While they are primarily rooted in ideology, patrons give money expecting some […]

ADP Numbers: Private Sector Dumps Over 30K Jobs

U.S. private-sector hiring slipped into negative territory last month, according to the November ADP National Employment Report released December 3rd. Payrolls fell by 32,000 positions—an abrupt reversal that economists say underscores gathering economic headwinds and a wary consumer. Small businesses were the hardest hit, shedding 120,000 jobs, while the spot price of gold briefly punched […]

Why the Government Isn’t Educating Productivity

President Trump recently classified a certain group of graduate degrees as non-professional degrees. This decision lowered the limit for Federal student loans for these programs. Whether one perceives this as a helpful reduction of spending or a political slight against social sciences, this example shows the government rationale regarding education. Education’s value is often evaluated […]

Fed Governor Bowman Tries to Reassure House Committee

Federal Reserve Vice Chair for Supervision Michelle Bowman assured House lawmakers on December 2nd that the “Federal Reserve” “banking system remains sound and resilient,” citing robust capital ratios, ample liquidity, and falling non-performing loans. Testifying before the House Committee on Financial Services, she painted a largely upbeat picture of traditional banks even as gold prices—often […]

What Will Black Friday 2025 Tell Us About American Consumers?

Black Friday, the ultimate consumer holiday, has lost some of its luster in recent years as Americans become increasingly indebted, cash-strapped, and hamstrung by high inflation. Known as an all-out buying bonanza where shoppers flood retailers for deals on everything from TVs and toys to kitchen utensils, this year all signs point to a muted […]

Schiff on Market Overtime: Bitcoin Looks Vulnerable

In his latest appearance on Market Overtime, Peter lays out a clear wager: central banks are quietly rebuilding their gold reserves while Bitcoin faces structural risks that could trigger a rapid collapse. He connects the dots between central-bank buying, corporate Bitcoin plays like MicroStrategy, and the larger speculative mania around crypto and A.I., arguing that […]