Peter's Blog

Bank of America: Calling the Death of Gold Is Premature

Gold posted a small gain in 2022, and it was one of the best-performing assets of the year. Nevertheless, there is still a perception in the mainstream that gold is dead. But that perception may be changing. In a recent note, Bank of America commodity strategist Michael Widmer said gold will be a “mainstay” in […]

Jim Grant: We’ve Not Seen the Last of This Inflationary Outburst

With the rate of increase in the CPI slowing, many people in the mainstream think the Federal Reserve is winning the war on inflation. In a recent podcast, Peter Schiff said this is wishful thinking. He said that the Fed is losing the war and it will ultimately surrender to inflation. Schiff is not alone […]

Real Hourly Earnings Decline for the 21st Straight Month

Inflation continues to eat up your paycheck. For the 21st month in a row, average hourly earnings failed to keep up with rising prices.

Peter Schiff: Inflation Is Going to Win the War

The CPI data for December buoyed markets and raised hopes that the Federal Reserve is winning its war against inflation. But in his podcast, Peter explained that the Fed isn’t winning the war. It is losing and will ultimately surrender to inflation.

US Monthly Budget Deficit Up 299% Year on Year in December

The US government ran an $85 billion budget deficit in December, according to the Monthly Treasury Department Statement. That was much lower than November’s massive $248.5 billion shortfall, but don’t be deceived by the drop. December is typically a low deficit month. The relatively big shortfall indicates the federal government is on a trajectory to […]

Peter Schiff: The Recession Everybody Denies Exists Is Going to Get Worse

Peter Schiff recently appeared on Dan Bongino’s Unfiltered on Fox News to talk about the economy, inflation, the stock market, the Federal Reserve and investing in 2023. Peter said the recession that everybody denies exists is going to get worse, and so is inflation.

Budget Deficit Exceeds $1.4T in 2022

The Federal Government ran a deficit of -$85B in December. While this was much smaller than the deficit posted in November, it marks one of the largest December deficits ever.  That pushed then 2022 calendar year deficit to over $1.4 trillion.

CPI: Saved by Falling Energy Prices

The CPI cooled again in December driven by a massive fall in Energy prices. As shown below, the fall in Energy has been a big reason for the recent drop in inflation. Commodities have also been a driver down as Used Cars and Trucks fell -2.5% MoM and -8.8% YoY. That said, stickier items like […]

Is “Cooling” CPI Transitory? SchiffGold Friday Gold Wrap Jan. 13, 2023

The headline numbers from December’s CPI report give the impression that price inflation is continuing to cool. Markets are giddy at the prospect. But in this episode of the Friday Gold Wrap podcast, host Mike Maharrey argues that “cooling” price inflation is most likely transitory and the markets still don’t really understand the Fed’s position. […]

Is “Cooling” CPI Setting the Stage for More Inflation?

Based on the headline numbers, price inflation cooled again in December, boosting market optimism that the Federal Reserve will continue to ease off the pedal on its monetary tightening. But this could be setting the stage for more price inflation down the road. And a deeper look at the data reveals that a lot of […]