Peter's Blog

Global Debt at Record Levels and the Free Lunch Is Over

Global debt rose $10 trillion to a record $397 trillion in the first half of 2023, according to the Institute of International Finance (IIF). The big increase in debt occurred despite tightening credit conditions, and it is an increasingly worrisome problem because the “free lunch” of artificially low interest rates is over.

Despite Happy Government Narratives, Consumer Sentiment Plunges

Joe Biden says the economy is great. Paul Krugman says the inflation war is over and we won. But Americans aren’t buying the narrative. They’re growing increasingly worried about the economy and inflation. The University of Michigan Index of Consumer Sentiment tanked in October with inflation worries at the highest level since last May.

The Myth of the Invincible Dollar

I write a lot about the national debt. And most people don’t care. That’s because there’s a widespread belief that the dollar is invincible. It isn’t.

Resumption of Student Loan Repayments Stressing Already Stressed American Consumers

After a more than 3-year pause, government student loan repayments started again this month and it’s already putting the squeeze on borrower’s wallets. This is bad news for an economy already strained by massive levels of debt and rising interest rates. Interest accrual on student loans resumed on September 1 with the first payments coming […]

Zimbabwe Introduces Digital Payment System Backed By Gold

The Reserve Bank of Zimbabwe (RBZ) has launched a digital payment system backed by physical gold. The RBZ rolled out its digital gold-backed token in April after successfully implementing a program to produce physical gold coins in 2022. On Oct. 5, the central bank announced that these gold-backed digital tokens could be used as a […]

Bidenomics: National Debt Increases By Another Half-Trillion in Just 20 Days

Twenty days. That’s how long it took the Biden administration to add another half-trillion dollars to the national debt. Bidenomics certainly requires a lot of borrowing and spending.

Credit Card Spending Spikes Again as Big-Ticket Borrowing Goes Flat

American consumers continued to pile up debt on credit cards while borrowing for big-ticket items fell into the basement in August. This is the behavior of extremely financially stressed people.

Central Bank Gold Buying Continued to Sizzle in August

Central bank gold buying continues to sizzle. Central banks globally added a net 77 tons to their reserves in August, according to the latest data compiled by the World Gold Council.

The Advantages of Including Gold in Your IRA

You can hold physical gold and silver in an IRA, and there are certain advantages to doing so. Historically, IRAs with an allocation to precious metals perform better than IRAs with no exposure to silver or gold. There are also tax benefits when contributing to an IRA.

Recession Warning! Four Key Triggers Are All in Play Right Now

We keep hearing about a “soft landing.” According to government officials, central bankers, and mainstream financial media pundits, the US economy has dodged a recession. So why are recession warning signs still flashing?