Peter's Blog

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 […]

Fun on Friday: Wait, What? He Wasn’t Looking for Silver and Gold?

Rudolph the Red Nose Reindeer is my favorite Christmas special. And Yukon Cornelious is one of my favorite characters in the show. I mean what’s not to like, right? He’s a man’s man. He openly carries a gun. He travels with cornmeal and gunpowder and ham hocks and guitar strings. And he’s always on the […]

Daddy Is Still Taking the Punch Bowl Away: Friday Gold Wrap 12.21.18

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.

Nasdaq Officially Dips Into Bear Territory

The Nasdaq officially dipped into bear territory on Thursday. The tech-heavy index rallied off its interday lows to close just a rounding error away from official bear status — for now. The Nasdaq has lost nearly 20% of its value in just four months. Reuters called it “the latest sign that the bull market that […]

The Federal Reserve Just Stuck a Fork in the Stock Market

As expected, the Federal Reserve nudged interest rates up another 25 basis points to 2.5% during its December meeting this week. It also scaled back its projected hikes in 2019 from three to two. Peter Schiff said Jerome Powell and company just stuck a fork in the stock market.

China and Japan Dump More US Debt

China and Japan dumped more US Treasuries in October, even as the federal government continued to run up its debt. Chinese holdings of US Treasuries dropped for the fifth straight month, sinking to the lowest level since May 2017, according to data recently released by the Treasury Department. The total amount of US debt held […]

Peter Schiff: This Isn’t Going to Be Your Garden-Variety Recession (Video)

The mainstream is starting to get a little bit nervous. As we reported yesterday, a CNBC interview with DoubleLine Capital founder Jeffrey Gundlach got the mainstream talking about the possibility of a bear market. There is also increasing concern about a looming recession. In a recent New York Times survey, almost half of the 134 CEOs […]