Peter's Blog

Despite Happy Government Narratives, Consumer Sentiment Plunges

Joe Biden says the economy is great. Paul Krugman says the inflation war is over and we won. But Americans aren’t buying the narrative. They’re growing increasingly worried about the economy and inflation. The University of Michigan Index of Consumer Sentiment tanked in October with inflation worries at the highest level since last May.

Peter Schiff: The Government Is Lying About Inflation

The CPI has cooled in recent months, but Americans say they’re still struggling with rising prices and they’re worried about inflation. Why is there this dichotomy between people’s perceptions and the official data? Peter Schiff recently appeared on Real America with Dan Ball to talk about the economy. He said the problem is the government […]

Inflation Not a Problem If You Don’t Buy Anything! Friday Gold Wrap Oct. 13, 2023

Great news! The inflation war is over and we won! At least that’s how Paul Krugman sees it. But he’s playing tricks with the data and making assumptions that are meaningless in the real world. In this episode of the Friday Gold Wrap, host Mike Maharrey dissects Krugman’s claims in light of the September CPI […]

Hotter Than Expected CPI – A Recurring Theme

“Hotter than expected.” This seems to be a recurring theme when it comes to price inflation. The September CPI data gave us another variation on that tune. And it should once again remind us that the Federal Reserve is nowhere near its 2% target.

Don’t Rely on GDP

An important error in statistical analysis is that mathematical economists have lost sight of what their beloved statistics represent —none more so than with GDP. In this analysis, I explain why GDP is simply the total of accumulating currency and credit which is wrongly taken to reflect economic progress — there being no such thing […]

The Myth of the Invincible Dollar

I write a lot about the national debt. And most people don’t care. That’s because there’s a widespread belief that the dollar is invincible. It isn’t.

Resumption of Student Loan Repayments Stressing Already Stressed American Consumers

After a more than 3-year pause, government student loan repayments started again this month and it’s already putting the squeeze on borrower’s wallets. This is bad news for an economy already strained by massive levels of debt and rising interest rates. Interest accrual on student loans resumed on September 1 with the first payments coming […]

Zimbabwe Introduces Digital Payment System Backed By Gold

The Reserve Bank of Zimbabwe (RBZ) has launched a digital payment system backed by physical gold. The RBZ rolled out its digital gold-backed token in April after successfully implementing a program to produce physical gold coins in 2022. On Oct. 5, the central bank announced that these gold-backed digital tokens could be used as a […]

Bidenomics: National Debt Increases By Another Half-Trillion in Just 20 Days

Twenty days. That’s how long it took the Biden administration to add another half-trillion dollars to the national debt. Bidenomics certainly requires a lot of borrowing and spending.

Peter Schiff: The US Can’t Afford Peace, Much Less War

War broke out in the Middle East over the weekend after Hamas attacked Israel. In his podcast, Peter broke down the possible economic ramifications here in the United States. He said the US can’t afford peace, much less war.