Peter's Blog

Subprime Mortgage Delinquency Still at Record Levels

Despite the “improving economy,” subprime mortgage delinquencies remain at record high levels. And the full extent of the problem is masked by forbearance programs. The delinquency rate on FHA mortgages spiked to 17.5% in February. That was up from 17.0% in January and equals the all-time record set in September and November of 2020, according […]

You Can’t Blame Big Government Spending All on the Pandemic

Congress recently passed coronavirus stimulus 3.0, adding another $1.9 trillion in federal spending to the already massive fiscal 2021 budget deficit. That brings total spending related to COVID-19 to somewhere in the neighborhood of $5 trillion. Meanwhile, the national debt has skyrocketed past $28 trillion. The US government has added $5 trillion to the debt […]

Poland Wants More Gold

Poland’s gold-buying spree isn’t over. In 2018, the National Bank of Poland began aggressively adding gold to its reserves. Through the first half of 2019, the Polish central bank added more than 100 tons of gold, nearly doubling its reserves.

Fiscal 2021 Budget Deficit Already Over $1 Trillion

Just five months into fiscal 2021, the US government has already run a budget deficit of over $1 trillion. In a year of massive deficits, the US federal government charted its biggest monthly shortfall of fiscal year 2021 in February. According to the Monthly Treasury Statement, the February deficit came in at $310.92 billion, pushing […]

What Is CPI Really Telling Us?

The Labor Department released February’s CPI numbers on Wednesday. The mainstream spin was “no inflation, nothing to see here.” But what will we find if we dig a little deeper into the numbers? CPI was up 0.4% in February. That follows on the heels of a 0.3% rise in January. The rise was in line […]

Government Stimulus Is Blowing Up a Massive Economic Bubble

We’re told we’re on the road to economic recovery. The $1.9 trillion stimulus is all we need to get us over the hump. But the truth is, Americans started spending like they were over the hump months ago. In fact, American consumers high on stimulus have been on a spending spree since last summer. The […]

Precious Metals Imports Into US Hit 19-Year High in 2020

Imports into the US of gold, silver and other precious metals surged last year. The value of precious metals pouring into the US hit a 19-year high in 2020 and doubled the volume of 2019, according to an analysis of census trade data by USA TODAY.

Silver Demand in Auto Industry Expected to Surge and Other Silver News

The use of silver in the automotive sector is expected to surge in the coming years, according to the feature story in this month’s edition of the Silver Institute’s Silver News. With modern cars using more silver than ever in their advanced technology components, analysts project the auto industry will likely need nearly 90 million […]

US National Debt Quietly Eclipses $28 Trillion

On March 1, the US national debt eclipsed $28 trillion with no end to the borrowing and spending in sight. It was just last fall that the debt surged above $27 trillion for the first time. In less than five months, Uncle Sam added another $1 trillion to its debt load. And there’s barely been […]

Go Big on Silver With 1,000-Ounce Bars

Silver enjoyed a moment in the sun when the Reddit investors turned their attention to the white metal. Silver has since faded from the headlines but it remains an attractive investment option. As one portfolio manager put it, sub-30-dollar silver “is the most attractive macro-economic asset in the world.” For investors who want to go […]