Peter's Blog

Retail Defaults at All-Time High

There were more signs of a retail apocalypse in the first quarter of this year. Defaults by retail companies rated by Moody’s hit an all-time high in Q1. There were a total of nine defaults among Moody’s-rated retail corporates. According to Wolf Street, total corporate defaults in Q1 were up 22% from last year, and […]

Frank Holmes Is Bullish on Gold: It’s Outperformed the S&P 500 (Video)

Last month, US Global Investors CEO Frank Holmes said he thinks gold may well hit $1,500 this year. He listed the specter of increasing inflation, a weakening dollar, and income growth in China and India as three reasons to be bullish on the yellow metal. This week, Holmes appeared on CNBC’s Squawk Box and continued to […]

Economic Growth Can’t “Pay For” Republican Tax Cuts and Spending

One of the favorite Republican talking points is that tax cuts will “pay for themselves” by spurring economic growth. This seems plausible. But GOP talking heads underestimate just how much growth would be necessary to pay for the massive tax cuts and spending increases recently passed by Congress. In fact, the Congressional Budget Office released […]

Peter Schiff: Nobody Is Prepared for the Long-Term Pain That’s Coming

The stock market continued its yo-yo ways on Friday. After three straight days of healthy gains, the Dow Jones Industrials fell 572 points to end the week, closing below 24,000. The Nasdaq also plunged, dropping 161 points. Peter Schiff has been saying for weeks this is a bear market. Well, now even Pres. Trump has said […]

Has the Subprime Auto Bubble Burst?

It looks like the subprime auto loan bubble has popped. Last year, we reported that the auto industry’s check engine light was on. Now it looks like the thing is totally breaking down. Small subprime auto lenders are starting to go belly-up due to increasing losses and defaults. As ZeroHedge noted, “we all know what comes […]

Flashing Warning Signs: SchiffGold Friday Gold Wrap 04.06.18

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.

Fun on Friday: Cleveland Brewery Plans to Sell Beer Made Out of Gold

I’ve written several Fun on Friday columns about eating gold.  I told you about the golden goose. I told you about the LA steakhouse that will serve you a nicely cooked steak garnished with gold flakes. I even told you about an Indian caterer who responded to a couple’s request to “stun” their wedding guests […]

North American ETFs Gobbled Up Gold Last Month, Leading Global Increase in Fund Inflows

North American funds gobbled up gold last month as gold-backed ETFs collectively added 22.5 tons of the yellow metal globally in March. Overall, gold-backed ETFs increased their holdings to 2,415 tons worth an estimated $102.8 billion, according to data released by the World Gold Council.

David Stockman: Free Money Is the Profound Enemy of Free Markets

Jim Grant recently interviewed former Ronald Reagan Officer of Budget and Management David Stockman on his Grant’s Interest Rate Observer podcast. Their conclusion? America is broke. And central bank free money broke it.

Subprime Mortgages Among Fastest Growing Investments for US Banks

“As a dog returns to its vomit, so fools repeat their folly.” – Prov. 26:11 It appears there is some repeat folly brewing. Remember subprime mortgages? Well, they’re back.