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Every time the economy gets into trouble, governments and central banks react the same way. They slash interest rates and loosen monetary policy. This gooses the economy — temporarily. But when the next crisis comes, it takes an even bigger dose of extraordinary monetary policy to revive the economy. The Fed has pushed things into […]
The bounceback in the Indian gold market continued last month. Indian gold imports hit a 21-month high in February and there was robust retail demand. This comes on the heels of a 72% year-on-year increase in gold imports in January.
Despite the “improving economy,” subprime mortgage delinquencies remain at record high levels. And the full extent of the problem is masked by forbearance programs. The delinquency rate on FHA mortgages spiked to 17.5% in February. That was up from 17.0% in January and equals the all-time record set in September and November of 2020, according […]
Every time the economy gets into trouble, governments and central banks react the same way – they cut interest rates and loosen monetary policy to stimulate borrowing and spending. The idea is that the “stimulus” will increase demand and pull the economy out of trouble. But there is a dark side to this policy – […]
The latest Biden/Democrat stimulus bill is just the beginning. There is more government spending coming down the pike. That means more money printing. But Paul Krugman says not to worry. It didn’t cause a big jump in CPI last time and it won’t this time either. Peter Schiff talked about it in his podcast. He […]
On March 1, the national debt eclipsed $28 trillion. The mainstream media hardly gave it a mention. To put the speed of the borrowing into perspective, the US government added $5 trillion to the debt in less than 18 months. The Federal Reserve was already intervening in the economy prior to the pandemic. Remember, the […]
Congress recently passed coronavirus stimulus 3.0, adding another $1.9 trillion in federal spending to the already massive fiscal 2021 budget deficit. That brings total spending related to COVID-19 to somewhere in the neighborhood of $5 trillion. Meanwhile, the national debt has skyrocketed past $28 trillion. The US government has added $5 trillion to the debt […]
We’ve talked extensively about the growing levels of debt in the economy. The national debt recently eclipsed $28 trillion. Corporate debt was already skyrocketing prior to the pandemic. All of this is driven by loose Federal Reserve monetary policy designed to drive borrowing. And people wonder why Peter Schiff insists the Fed can’t actually let […]
Last month, Federal Reserve Chairman Jerome Powell testified before Congress. In his answer to one question, it sure did sound like he doesn’t believe in the basic economic principle of supply and demand. Peter Schiff talks about it in this clip from one of his podcasts.
We just celebrated St. Patrick Day and that got me thinking about Leprechauns – specifically their pots of gold. I mean, what is a Leprechaun anyway? And how in the heck did they get gold? I’d like to have a pot of gold. Maybe I could get some tips from them. Now you would think […]
