Peter's Blog

Peter Schiff: Americans Are Broke

Retail sales unexpectedly fell again in February. It was the third straight monthly drop and the first time the US economy has seen three straight months of declining retail sales since 2012. Sales fell 0.1% in February. Analysts had expected an uptick of 0.3%. According to CNBC, households cut back on purchases of motor vehicles and other big-ticket […]

Are These Jobs Numbers “Beautiful” or Fake News?

Jobs numbers came out Friday better than expected. According to the Labor Department, the US economy added 313,000 jobs last month, the most since October 2015. Economists had anticipated a gain of about 200,000. Wage growth was less stellar, ticking up just 0.1%. Analysts projected a 0.2% increase after a pretty significant jump of 0.3% […]

Peter Schiff: The Party Is Over (Video)

We’ve been talking a lot about the rising levels of debt – both government and household. Set in an environment of rising interest rates, this is a huge problem very few people seem concerned about. We’ve been enjoying a big party and it’s about to come to an abrupt end.

Gold and Silver on Sale: SchiffGold Friday Gold Wrap 02:23:18

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.

Peter Schiff: We’re Ripe for a 1987-Style Crash (Video)

Stock markets have settled down after an awful couple of weeks earlier this month.  On Feb. 5, the Dow Jones suffered its largest-ever drop in terms of points. It was down 1,600 at one point and ultimately lost 1,175.21 points, a 4.6% drop that day. At one point during that week, the Dow was off […]

Retail Sales Tank: Is The House of Credit Cards About to Collapse?

Could the house of credit cards Americans have built be on the verge of collapse? Earlier this week, the New York Fed released the latest data on US household debt, revealing it has grown to a record $13 trillion. Americans have been spending, but they’ve been putting a lot of it on plastic. Credit card balances […]

Total Household Debt Hit Record $13 Trillion in 2017

Passage of a GOP budget that added $300 billion in new spending has focused plenty of attention on surging federal government debt over the last week or so. But Uncle Sam isn’t the only one running up those credit cards. Everyday Americans are also piling on the debt. Total household debt soared to a record $13 trillion […]

Deficits Don’t Matter? Fake News! SchiffGold Friday Gold Wrap Podcast 02.09.18

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.

Government Spending Going Up; Interest Rates Going Up; Stock Market Going Down

The bears were running on Wall Street again Thursday, as the Dow Jones suffered another steep tumble. After a record drop of  1,175 points Tuesday and a rebound Wednesday, the Dow shed another 1,333 points. The Dow Jones dropped 6.5% in four days. That’s the steepest decline in any week since October 2008. The S&P 500 […]

Political Rhetoric vs. Economic Reality

Just over a week ago, President Trump delivered the State of the Union speech. The president gave a speech with a decidedly optimistic tone. This was certainly welcome with the increasingly fractured and divided American political landscape. But it’s important to focus beyond the political theater and take a hard look at where the US economy […]