Peter's Blog

American Consumers Continue to Run up Credit Card Debt

Consumer borrowing has slowed somewhat from the record level we saw in June, but Americans continue to pile on the debt. Consumer debt grew by $14.4 billion in August to $4.35 trillion, according to the latest data from the Federal Reserve. That represents a 4% increase. This follows on the heels of a 4.8% increase in […]

Peter Schiff: This Is a Record We Don’t Want to Break

A surge of imported services drove the trade deficit to a new record in August. Peter Schiff appeared on NTD News to talk about the trade imbalance. He said it is not a sign of a strong economy and not the kind of records we want to be breaking.

Peter Schiff Debates Two Socialists on the Debt Ceiling and the Economy

The fake debt ceiling fight rages on. Last week, the US Senate agreed to a small increase in the borrowing limit, but it only kicked the can down the road a couple of months. The $480 billion increase raises the debt limit to $28.9 trillion, but that’s only going to last until Dec. 3. Peter […]

Peter Schiff: Stagflation Is Here!

We got the highly anticipated employment report on Friday. It came in far below expectations. But despite weak economic data, bond yields are rising, along with the price of just about everything. Meanwhile, a gold rally fizzled. Peter Schiff talked about it during his podcast, explaining just how badly the markets are misinterpreting the data. […]

Another Big Jobs Miss: All But Two Categories Are Below The 12-Month Trend

For the second month in a row, the jobs numbers in September came in well below expectations. The Labor Department reported an increase of only 194,000 jobs, well below the estimated 500,000. The big miss was similar to August’s report. Despite the unemployment rate ticking down to 4.8% from 5.2% and an upward August revision of […]

Fun on Friday: The $1 Trillion Coin

Have you heard the latest news on the fake debt-ceiling fight? The Senate has approved a measure to kick the can down the road a couple of months. So, the “fight” will continue! The $480 billion increase raises the debt limit to $28.9 trillion, but that’s only going to last until Dec. 3. That means […]

A Lack of Self-Reflection: SchiffGold Friday Gold Wrap Oct. 8, 2021

Inflation continues to run hot. Even some of the folks over at the Fed are having a hard time peddling the “transitory” inflation narrative. But politicians and government officials lack the skill of self-reflection. As a result, they can’t clearly see the problem. In this episode of the Friday Gold Wrap, host Mike Maharrey looks […]

Peter Schiff: This Is a Real Twilight Zone

Peter Schiff says we’re living in a financial twilight zone. Despite signs of persistent high inflation, gold continues to languish. Peter talked about what’s going in this bizarro economy during his podcast.

Surge in Imported Services Sends Trade Deficit to New Record

The US trade deficit surged to yet another new record in August as Americans are importing more and more services to go along with all of their imported goods. The August trade deficit came in at $73.25 billion, 4.2% higher than the July trade deficit of $70.3 billion. The August deficit set a new record […]

Demand for Silver in Electronics Sector Projected to Surge

The demand for silver is expected to expand along with the continued growth in global connectivity. According to a report released by the Silver Institute, silver demand in electronics and electrical applications is projected to rise by 10% by 2025.