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Full-time work is being replaced by multiple part-time jobs for Americans, and many indicators are flashing early warning signs for an imminent recession. Learn more in this week’s Fed Up Friday. Part-Time Jobs Soar, Indicating Most Multiple Jobholders Since 2008 In numbers not seen since the financial crisis of August 2008, the number of multiple […]
Late last week the Non-Farm Payroll Report was released. Peter Schiff laid out the details of the official scorecard on U.S. job creation and unemployment in his latest podcast. The big story of the reported “employment gains” is that they lump full- and part-time jobs together. They aren’t taking into account that when someone loses […]
The basic definition of an interest rate is simply the cost of borrowing money. It’s the cost associated with acquiring credit, whether buying a car, getting a mortgage, or taking a vacation. We encounter interest rates every time we make a monthly credit card or student loan payment. Interest and interest rates are a major […]
In a recent article on the next looming recession, Peter Schiff explains how current monetary policy has come to a crossroads. With respect to interest rates, there now seems to be two entrenched camps: raise or don’t raise. Unfortunately, they’re both wrong, mainly because they’re beginning with the wrong premise: that the economy can somehow […]
A wilting, stifled economy is the story this week with the Fed. They’re trapped, unable to bolster the economy and they have no ammo to halt inflation. Fed President Lacker Urging Preemptive Rate Increases Regular Fed dissenter Jeffrey Lacker said this week he sees even bigger rate increases coming in if the Fed doesn’t start […]
In his 200th podcast, Peter Schiff explains the ineffectual outcomes of Richmond Federal Reserve President Jeffrey Lacker’s call for “preemptive” interest rate action. Lacker said he believes the Fed should anticipate a rise in inflation levels by getting ahead of the curve. The suggestion only makes sense to those who can’t see the artificially inflated […]
There are currently about 54 million millennials entering the workforce in the US, and for many of them, the idea of buying a home isn’t an immediate goal. That’s because the majority (70%) are under an enormous amount of student debt. Large school loans are motivating many millennials to put off their first home purchase […]
Ever since the financial crisis of 2008, many investors have bought gold and precious metals to withstand the storm of volatile markets and insolvent banks. Demand for gold storage services is so in-demand throughout the world, Switzerland vault owners are turning customers away. Many of these Swiss vaults reside in the Alps within old military […]
In his latest podcast, Peter runs down the real threats of prosecuting and over-regulating financial institutions like Wells Fargo. Last week, Wells Fargo CEO John Stumpf was lambasted by members of the House Financial Services Committee over the unauthorized accounts scandal. Members called for Strumpf’s resignation and a breakup of the company. Aside from the heated […]
The Fed wasn’t immune from the political spectacle that was the Presidential debate on Monday. After that, Yellen had to answer even more criticisms from the nation’s financial regulation. “The Fed is being more political than Secretary Clinton”— Trump In Monday’s much-awaited presidential debate between Hillary Clinton and Donald Trump, there were many contentious topics […]
