Peter's Blog

CPI Cools Modestly; How Will the Fed Play This?

As expected, the Consumer Price index cooled a bit thanks to falling gasoline prices. The question is will this give the Federal Reserve the excuse it needs bow out of the inflation fight? The Consumer Price Index for July was up 8.5% year-on-year. That was down from June’s 9.1% print and slightly below the 8.7% […]

Fed Balance Sheet Reduction Not Delivering as Promised

The Federal Reserve is all-in on the inflation fight. Or is it? While everybody focuses on interest rate cuts, the promised Fed balance sheet reduction isn’t going quite as promised.

Ron Paul: The “Inflation Reduction Act” Is Another DC Lie

We get a lot of Orwellian spin out of Washington D.C. A recession isn’t a recession, Putin’s price hikes caused inflation, and now we’re told a massive spending bill will cure inflation. Last weekend, the Senate gave final approval to the so-called “Inflation Reduction Act.” Despite the catchy title, it is nothing but a tax-and-spend […]

Record Consumer Debt Levels Continue to Climb

Consumers continue to add to their record level of debt as higher prices squeeze wallets. Americans added another $40.1 billion to the debt load in June, according to the latest data from the Federal Reserve. That represents a 10.5% year-on-year increase.

Peter Schiff: This Labor Market Is Not “Strong”

The July non-farm payroll report came out much stronger than anticipated. According to the Bureau of Labor Statistics, the economy added 528,000 jobs and the unemployment rate ticked down to 3.5%. The narrative was that this blockbuster employment report proves that we’re not in a recession. In his podcast, Peter Schiff broke down the data […]

Peter Schiff and Laura Ingraham: The American People Will Get the Worst of Both Worlds — Inflation and Recession

Despite White House and media spin downplaying a recession, a lot of people aren’t buying. Fifty-seven percent of small business owners say a recession has already begun. Peter Schiff talked with Laura Ingraham about government spending, taxation, inflation, household debt and the recession. He said the recession is already worse than people think.

US Debt: The Sting of Higher Interest Rates is Just Getting Started

The Treasury increased the total debt by $27B in June. Activity slowed in the latest month across all instruments, but particularly the conversion of short-term to long-term. After massive moves to extend debt maturity and shrink short-term debt by $530B over 4 months (shown below by the large negative turquoise bars), July went very quiet.

Jobs Report: Be Careful What You Wish For

According to the BLS, the economy added 528k jobs in July, blasting past analyst estimates of 250k. The strong report comes on the heels of a Fed meeting last week that made a point to state they are hyper-focused on the job market as a sign of a weakening economy. The White House and Fed […]

Jobs, Jobs, Jobs! SchiffGold Friday Gold Wrap Aug. 5, 2022

Jobs are on everybody’s mind as the July employment report comes out. Will the labor market show more cracks? Or will it give the pundits more room to spin the idea that we’re not really in a recession? In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the labor market and […]

Is a Falling Trade Deficit Further Proof of Recession?

The June trade deficit fell for a fourth straight month to -$79.6B. While the deficit continues to drop from all-time highs, it is still larger than any month before 2022. June eclipsed December 2021 by $750M. December was a new record then, so the current deficit should be put into the context of longer history […]