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So far, the US has escaped negative interest rates as a matter of central bank policy. Back in May, many thought a Fed move to negative rates was a real possibility. Of course, much of the world has operated under negative rates as a matter of policy for years. The European Central Bank (ECB) launched […]
The Dow Jones cracked 30,000 this week and stocks continue to surge generally upward as investors are embracing risk-on sentiment based on high hopes a vaccine may put an end to the coronavirus pandemic. But there’s more to it than that. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a […]
US taxpayers are on the hook for a $435 billion loss on the $1.37 trillion in student loans that were on the government’s books at the beginning of this year, according to an internal study by the Department of Education recently reported by the Wall Street Journal. That’s before any loan forgiveness program that might […]
Student loan debt continues to surge despite falling college enrollment. In Q3, student loan balances rose by $23 billion from the second quarter, according to the latest Federal Reserve data.
While the markets were giddy about the prospects of a coronavirus vaccine, the Federal Reserve was warning of more economic chaos on the horizon. The Fed released its biannual Financial Stability Report Monday. The report warned we could see a wave of defaults and “significant declines” in asset prices in the near future.
The debt monster is loose. S&P Global Ratings projects the global debt-to-GDP level will swell to a record 265% this year. It also expects insolvencies and defaults to rise to levels not seen since the 2009 crisis.
Stocks sold off Monday as markets fretted over the lack of progress on stimulus and a rise in COVID-19 cases. In his podcast, Peter talked about the sell-off and the political dynamics driving the markets right now. He also drove down to a question nobody seems to want to grapple with: why are the markets […]
Even as US stock markets rally and people anticipate a quick recovery as economies open up, a tsunami of defaults and evictions looms on the horizon. The mainstream narrative has been that although the coronavirus shutdowns have rocked the economy, it’s not a financial crisis like we saw in 2008. Back in April, Peter Schiff […]
The Dow Jones is back of 25,000 and despite increasing tensions with China, people seem pretty optimistic about the economic future as states begin to open back up. SchiffGold Friday Gold Wrap host Mike Maharrey says people should know better. He makes his case by digging into some of the long-term ramifications of the economic […]
A = coronavirus. B = economic meltdown. A caused B. That’s the mainstream narrative when it comes to the economic pain we’re feeling right now. But in reality, A did not cause B. B was in the works long before A came along.
