Peter's Blog

Pending Home Sales Tank in November

Pending home sales hit the lowest level in nearly five years in November, a sign that the US housing market will continue to get uglier in the near future. Not too long ago, we reported that the air was starting to come out of housing bubble 2.0. As just one example, home sales in California hit […]

Nullification! It’s Your Dime Interview with Tenth Amendment Center Founder Michael Boldin

What can we do when the federal government exceeds its constitutional authority? Thomas Jefferson answered that question in 1798. He said, “nullification is the rightful remedy.” But what in the world is nullification? And how do you do it?

Fun on Friday: Government Shutdown Survival Guide

How are you weathering the great government shutdown of 2018? We’re in day seven now. It’s been tough here in Lexington. I’m pretty sure I saw some kid setting up an unauthorized lemonade stand. I’m not sure we will survive the plague that’s sure to follow without the FDA to put a lid on such things. 

Looking Back; Moving Ahead: Friday Gold Wrap 12.28.18

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

What Did European Central Bank Quantitative Easing Accomplish? Not Much

We often criticize the Federal Reserve for its three rounds of quantitative easing. Coupled with artificially low interest rates, Fed QE stimulus — essentially money creation –pumped up all kinds of asset bubbles. Now that the US central bank is trying to tighten, we’re beginning to see the air seep out of those bubbles. But […]

Student Debt Bubble: 43% of Loans “In Distress”

Student loan debt has grown to over $1.5 trillion. And that just accounts for loans held by Federal Student Aid. It doesn’t include private loans. Meanwhile, the Department of Education says 43% of those government-backed loans are considered “in distress.” In a speech last month, Education Secretary Betsy DeVos put the current level of student […]

Merry Christmas from Uncle Sam — You Got More Debt!

Between Christmas 2017 and Christmas 2018, the US government added a staggering $1,370,760,684,441.54 to the national debt, according to Treasury Department figures. If you split that up between all American, your share of Uncle Sam’s 2018 spending spree comes to about $4,178.10. Merry Christmas! You’re welcome.

Peter Schiff: It’s Not Just the Stock Market; It’s the Economy

There was no Santa Clause rally on Christmas Eve. Instead, US stock markets continued to tank. The Dow Jones dropped 653 points. The S&P 500 fell another 2.7% and officially entered into bear territory. It was the worst Christmas Eve’s on Wall Street in history. The Washington Post put it in stark terms. By the […]

Leveraged Loan Market Comes Unglued

As WolfStreet put it, the $1.3 billion leveraged loan market has come unglued. “Leveraged loans” are made to firms already deeply in debt. Think subprime loans for corporations. As with any risky loan, they could be difficult to either collect or resell in a downturn, putting both the borrower and lender at risk.

Peter Schiff: NASDAQ in Bear Market

What the Federal Reserve doesn’t understand about the market is that the market is going to continue to keep falling until they cut rates again and do another round of quantitative easing. The market is acting like a drug addict in withdrawal thanks to the drugs (easy, cheap money) the Fed gave everyone during the […]