Peter's Blog

Silver Investment Demand Surges and Other Silver News

Silver investment demand surged through the first three quarters of 2020, according to the latest issue of Silver News published by the Silver Institute. Global silver Exchange Traded Product (ETP) holdings rose by 297 million ounces through the third quarter of this year, nearly tripling the growth in the comparable period last year.

The Fed Balance Sheet Keeps Growing and There Is No Exit

The Federal Reserve balance sheet could be heading to $40-50 trillion or higher as the central bank continues to monetize US debt. To borrow a phrase from the movie “Pretty Woman,” this is the fork they know. If the economy turns sour, the government borrows money and the Fed backstops it by buying Treasuries. The […]

The Debt Monster Is Loose

The debt monster is loose. S&P Global Ratings projects the global debt-to-GDP level will swell to a record 265% this year. It also expects insolvencies and defaults to rise to levels not seen since the 2009 crisis.

Is It March All Over Again?

It looks like March all over again. Pretty much everything except dollars sold off yesterday. The Dow Jones was down 943 points. The S&P 500 dropped by 3.53%. The Nasdaq plummeted by 426 points.  It was panic selling as markets fretted about the rise in COVID-19 cases, new lockdowns in Europe, and the lack of […]

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.