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Posts Tagged: “consumer spending“
Fed’s Barkin Says “Fasten Your Seatbelts” for Bumpy Road
Economic cross-currents, political headwinds, and an elevated gold price framed Federal Reserve Bank of Richmond President Tom Barkin’s August 12 remarks to The Health Management Academy in Chicago. Barkin told the Four Seasons crowd that U.S. real GDP expanded at just 1.2 percent during the first half of 2025, less than half last year’s 2.5 […]
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Recession Bells Ring Louder as Conference Board’s LEI Sinks
The U.S. economy’s “early-warning siren” just grew louder. The Conference Board reported Monday that its Leading Economic Index (LEI) fell 0.3 percent in June to 98.8—a level not seen since 2020. The decline extends the LEI’s losing streak to 18 of the last 19 months and pushes its six-month drop to 2.8 percent. With the […]
Peter Schiff: Stagflation Finally Revealed
In this week’s episode, Peter covers the dismal figures released Thursday and Friday, horrible tax policies, and the appalling lack of transparency in our government.
Inflation Continues to Chew Up Your Paycheck
Inflation continues to chew up your paycheck. While consumer prices rose 0.7% in January, income from all sources, including wages, salaries, interest dividends, rental income, unemployment, Social Security, etc. was essentially flat. And when adjusted for inflation, real personal income fell by 0.5%.
Inflation Bites! Rising Prices Are Eating Up Personal Income Gains
Inflation bites! Personal income rose again in August, but once again rising prices ate up all the gains and then some.
Personal Incomes Rising; Inflation Eating Them Up
Personal income is rising. But inflation is eating it up. Before factoring in inflation, personal income from all sources rose by 2.7% in July year-on-year. The month-on-month gain was a solid 1.1%. This includes wages, stimulus payments, transfer payments (unemployment, Social Security benefits, etc.) along with income from other sources such as interest, dividends, and […]
Stimulus Checks Run Out; Americans Whip Out Their Credit Cards
What do you do when that stimulus money runs out? You whip out the credit card. Consumer debt was up 10% in May, according to the latest data from the Federal Reserve, and we saw a big jump in credit card balances for the first time since February 2020.
Government Stimulus Is Blowing Up a Massive Economic Bubble
We’re told we’re on the road to economic recovery. The $1.9 trillion stimulus is all we need to get us over the hump. But the truth is, Americans started spending like they were over the hump months ago. In fact, American consumers high on stimulus have been on a spending spree since last summer. The […]
Recession Early Warning? Spending By the Wealthy Is Slowing
America’s economy is built on consumption. Average Americans have been pushing the US economy along, spending money they don’t have. But as we’ve reported, there are signals that the credit cards might be close to maxed out. Now there appears to be another warning sign – the wealthy are reining in their spending.
Another Month, Another Record for Consumer Debt
Americans continue to drive the economy along spending money they don’t have. Consumer debt increased yet again in July, setting another record, according to the latest data released by the Federal Reserve. Total consumer debt surged $23.4 billion in July, driven by a huge jump in credit card balances. The big rise in consumer indebtedness […]
Silver on Rocket Fuel! SchiffGold Friday Gold Wrap Aug. 30, 2019
Gold has had a pretty solid month, but silver has been going up like it’s on rocket fuel. In this episode of the Friday Gold Wrap, host Mike Maharrey takes a close look at the silver market and what’s going on there. He talks a little trade war, saying that maybe we shouldn’t be talking […]