Peter's Blog

At Its Core Price Inflation Still Running Hot

The Consumer Price Index (CPI) increased by the smallest annual amount in more than two years in May. This means the inflation fight is over and inflation lost, right? Not so fast.

Big May Shortfall Pushes 2023 Budget Deficit Well Over $1 Trillion

Congress “solved” the debt ceiling problem by effectively eliminating borrowing limits for the next two years. But it did nothing to address the underlying problem. And that underlying problem is painfully obvious when you look at the monthly budget deficits the federal government continues to run month after month. In May, the Biden administration piled […]

High Interest Rates Not Stopping Americans from Running Up More and More Debt

Despite the high interest environment intended to slow down borrowing, American consumers continue to run deeper and deeper into debt as they cope with sticky inflation. Consumer credit spiked by another $20 billion in April, a 5.7% increase year on year, according to the latest data released by the Federal Reserve.

A Surging National Debt Is Bullish for Gold

The debt ceiling drama ended with fake budget cuts and a shiny new credit card with no limit for the federal government. We can now expect a big surge in the national debt as the US government plays catch up after nearly six months up against its borrowing limit. So, how might this impact the […]

I Told Ya So! SchiffGold Friday Gold Wrap June 9, 2023

In this episode of the Friday Gold Wrap, host Mike Maharrey engages in a little “I told you so!” discussing a couple of things he got right, including his assertion that the real problems would start after the debt ceiling deal and that it was important to keep your eye on the commercial real estate […]

National Debt Surges By Over $350 Billion in One Day After Debt Ceiling Deal

I warned you. I said when the fake debt ceiling fight ended, the real problems would begin. Well, the debt ceiling fight is over, and here we are. On the first working day after the so-called Fiscal Responsibility Act went into effect, the national debt surged by $359 billion.

World Bank: Global Economic Growth Expected to Slow to 2008 Levels

Most people in the mainstream concede that the economy is heading for a recession, but the consensus seems to be that downturn will be short and shallow. Projections by the World Bank undercut that optimism. According to the World Bank, global growth in 2023 will slow to the lowest level since the 2008 financial crisis.

What Central Banks Giveth They Taketh Away; Wave of Corporate Defaults on the Horizon

With a debt ceiling deal done, the threat of a US government default is off the table for the time being. But a wave of corporate defaults is on the horizon according to Deutsche Bank’s annual default study. This is the inevitable consequence of central bank monetary policy and it was entirely predictable.

Fake Debt Ceiling Fight Yields Fake Spending Cuts and a Credit Card With No Limits

We have a debt ceiling deal. And the deal is there is functionally no debt ceiling until January 2025.

A Premium Episode: SchiffGold Friday Gold Wrap June 2, 2023

If you buy gold or silver, you’re going to pay a premium. So, what exactly is a premium and how is it determined? In this episode of the Friday Gold Wrap, host Mike Maharrey answers common questions about premiums. He also discusses the debt ceiling deal and reveals where Americans rank gold as a long-term […]