Peter's Blog

Millions of Americans Struggling to Pay Their Bills

We read a lot about the big-picture impacts of the economic meltdown caused by the government response to the coronavirus pandemic. We hear about the millions thrown out of work, the surge in corporate bankruptcies and small businesses shutting down, and the specter of surging inflation. But how has all of this impacted the average […]

Inflation Is Here

The mainstream isn’t worried about inflation. In fact, we’re told inflation is muted. And that’s true, at least by some measures. We haven’t seen the rising consumer price index (CPI) you might expect as central banks inject trillions of dollars created out of thin air into the economy. But just because government numbers don’t reflect […]

The Stock Market Is Completely Untethered From Economic Reality

We’ve been saying for months that the stock market has completely disconnected from economic reality. The markets have hit record highs despite the economic chaos caused by the government response to COVID-19. As Peter Schiff put it in a podcast back in May, the markets are on a Fed-induced sugar high. In a recent article, […]

Ranks of the Long-Term Unemployed Growing

The mainstream spin on unemployment is that things are improving. The unemployment rate is coming down. The number of weekly jobless claims recently fell below 800,000 for the first time since government lockdowns in response to the pandemic went into high gear last March. But there are some troubling signs that undercut this good-news narrative. […]

Rickards: Why Gold?

Why gold? In a recent article, Jim Rickards offers three reasons the biggest gains in gold prices are yet to come.

Wave of Corporate Mergers Could Put More Americans Out of Work

Last week, we reported on the number of temporary layoffs that are turning into permanent job losses.  Now Goldman Sachs is projecting even more permanent job losses coming down the pike as a wave of mergers, acquisitions and corporate takeovers sweeps through the economy.

Central Bank Digital Currencies: Another Front in the War on Cash

There has been a lot of talk lately about central banks implementing their own digital currencies. Why?

Silver Investment Demand Nearly Triples Through First Three Quarters of 2020

Holdings of silver in silver-backed Exchange-Trade Products (ETPs) rose by 297 million ounces through the first three quarters of 2020, according to data released by the Silver Institute. That’s nearly triple the level of silver inflows seen during the same period in 2019. Meanwhile, investors also had a strong appetite for silver bullion coins and […]

Why Do We Put So Much Faith in Central Bankers?

Well-known management consultant Peter Drucker perfectly described the predicament faced by central bankers. You can’t manage what you can’t measure.” So why do we put so much faith in central bankers?

2020 Budget Deficit Comes In at a Cool $3.13 Trillion

The fiscal 2020 budget shortfall totaled $3.13 trillion as Uncle Sam added another $124.6 billion to the deficit in September, according to the latest Monthly Treasury Statement. That more than doubles the previous record deficit of $1.4 trillion set in 2009 at the height of the Great Recession.