Peter's Blog

Americans Continue to Pile on More and More Debt

American consumers continue to cope with rising prices and prop up the sagging economy using their credit cards. Total consumer debt rose another $23.8 billion in July to a record $4.644 trillion, according to the latest data from the Federal Reserve.

The Calm Before the Storm: SchiffGold Friday Gold Wrap Sept. 9, 2022

This week was the calm before the storm that will begin next week with the August CPI data and continue with the September FOMC meeting the following week. Friday Gold Wrap host Mike Maharrey takes advantage of the lull to cover some interesting topics including some more tough talk on inflation from Jerome Powell, the […]

Peter Schiff: We Can’t Postpone Inflation’s Day of Reckoning Much Longer

Jerome Powell and other central bankers at the Federal Reserve are still talking tough about their inflation fight even as the economy continues to deteriorate. Peter Schiff says we’re nearing an inflection point, but the markets don’t get it yet. As he explained in his podcast, the Fed’s monetary tightening is causing a recession, but […]

Hello Fed! Welcome to Reality! SchiffGold Friday Gold Wrap Sept. 2, 2022

The Kansas City Federal Reserve Bank published a rather surprising paper that swerves into the truth – the Fed can’t win this inflation fight. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the paper. He also discusses the possibility of a dollar decline and gives his first impression of […]

The “Strong Economy” Narrative Is Greatly Exaggerated

On the surface, some of the economic data that came out this week seemed to indicate that the economy is in better shape than the bears believe. In his podcast, Peter Schiff dug into consumer confidence and labor market data. He concluded that the strong economy narrative is greatly exaggerated. In fact, the data reveals […]

Fed Paper Admits the Central Bank Can’t Control Inflation; Finger-Points at Federal Government

It appears somebody at the Federal Reserve has figured out that the central bank can’t tame inflation, so it’s setting up a scapegoat – Uncle Sam. A paper co-authored by Leonardo Melosi of the Federal Reserve Bank of Chicago and John Hopkins University economist Francesco Bianchi and published by the Kansas City Federal Reserve argues that […]

Millions of Americans Face Eviction in Coming Months

The economy is fine, so we’re told. There is no recession, so we’re told. The Federal Reserve has everything under control, so we’re told. Meanwhile, 3.8 million Americans say they could face eviction in the next two months. It doesn’t sound like everything is fine.

Is a Post-Dollar World on the Horizon?

The dollar index recently hit a 20-year high, so this might seem to be an odd time to talk about a dollar decline. But Rockefeller Institute Chairman and Financial Times columnist Ruchir Sharma recently wrote an article arguing that a post-dollar world is coming.

Peter Schiff: Powell Promises Pain

Jerome Powell delivered his much-anticipated speech at Jackson Hole on Friday. He continued with the hawkish talk we’ve been hearing in recent weeks, pledging the Fed will “use our tools forcefully” to attack inflation. Powell even promised some pain. As Peter Schiff discussed in his podcast, the markets immediately delivered on the promise of pain. […]

Peter Schiff: Student Loan Forgiveness Is Pure Inflation

Last week, President Joe Biden announced a student loan forgiveness scheme. Peter Schiff appeared on NewsMax Real America with Dan Ball to talk about the cost of forgiving student debt and the growing recession. Peter said that despite all of the claims to the contrary, this is just going to add to the inflation problem.