Peter's Blog

The Fed is Still Coming up Short on QT

The Fed is supposed to be reducing the balance sheet by $95B a month. This is up from $47.5B before September. As the chart below shows, the Fed has only succeeded in meeting or exceeding its goal a single time (August) in 6 months. In the latest month, the Fed came up 25% short with a […]

No More Recession? Not So Fast! SchiffGold Friday Gold Wrap Oct. 28, 2022

The third quarter GDP data came out this week and it looks like the recession is over. (If there ever was one.) But in this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the data and says, “Not so fast!” He also talks about a mainstream economist who sounds a lot […]

Recession Warning: October PMI Tanks

People keep saying the economy is fine. We’re not in a recession. There’s nothing to see here. Meanwhile, business activity contracted for the fourth straight month in October.

Peter Schiff: Fed Folds With a Soft Pivot

We have been saying the Federal Reserve is bluffing in this inflation fight because it is holding a losing hand. And Peter Schiff thinks the central bank has folded with a soft pivot. He explained why on his podcast.

Money Supply Growth Rate Still Negative

Money Supply shrunk last month by $129B, the largest monthly fall ever going back to 1959. April and June also set records at the time from a gross change perspective. From a percentage amount, Feb. 1970 had been the largest contraction ever (-6.5% annualized), but the current month beat that number at -6.9% annualized.

Number of Americans Living Paycheck to Paycheck Approaching All-Time High

Inflation is squeezing American budgets to the breaking point. According to a LendingClub survey, the number of Americans living paycheck to paycheck is nearing record levels.

Economist Nouriel Roubini: The Fed Is Going to Wimp Out in the Inflation Fight

Economist Nouriel Roubini says Federal Reserve is going to “wimp out” on the inflation fight and that will lead to a dollar crash. Roubini is the Professor Emeritus at the Stern School of Business, New York University. He recently appeared on Bloomberg Markets and Finance to talk about threats to the global economy. Roubini predicted […]

Air Continues to Seep Out of the Housing Bubble

Air continues to seep out of the housing bubble blown up with the Fed’s artificially low interest rates in the wake of the pandemic. Sales of previously owned homes fell by 1.5% in September, according to a National Association of Realtors report.  It was the eighth straight month of declining home sales.

Peter Schiff: When the Sucker’s Rally Ends, the Dollar Will Crash

The world loves dollars. Whenever there is a problem, people flock to the dollar as a safe haven. But the US has problems of its own. In a podcast, Peter Schiff said America’s problems will eventually catch up to the dollar and at that point, the greenback will crash.

Ron Paul: Wreck the Economy Win a Nobel Prize

Ben Bernanke was one of the architects of the inflation you’re suffering from today. He won a Nobel Prize for his efforts. Bernanke rolled out quantitative easing to rescue the economy in the wake of the 2008 financial crisis. At the time, he swore it was a temporary emergency measure and that the Fed would […]