Peter's Blog

You’re Forgiven, My Child! SchiffGold Friday Gold Wrap Aug. 26, 2022

This week, President Biden announced a plan to forgive $10,000 to $20,000 in student loan debt. It sounds nice and some people will certainly benefit, but as SchiffGold Friday Gold Wrap podcast host Mike Maharrey explains, we’re all going to pay for this. In this episode, Mike also talks about Jerome Powell’s upcoming Jackson Hole […]

Peter Schiff: Washington D.C. Goes Full Orwellian

An audacious communications campaign from Democrats in Washington is currently underway that is attempting to convince the public that: There is no recession Inflation has been vanquished Even if inflation is still alive, targeted new Federal legislation will kill it

Private Sector Business Activity at Lowest Level Since COVID Lockdowns

In yet another sign the economy is tanking, private-sector business activity contracted for the second straight month in August. The S&P Global flash composite purchasing managers index (PMI) dropped to 45 this month from a reading of 47.3 in July. A print below 50 indicates a contraction in economic activity.

Tanking Housing Market Already Putting Mortgage Companies Out of Business

The tanking housing market is starting to put a strain on the mortgage industry with some lenders already going out of business. Analysts project the wave of failures coming down the pike could be the worst since the housing bubble burst and triggered the Great Recession.

The Numbers Don’t Lie; The Fed Won’t Win This Inflation Fight

The central bankers at the Federal Reserve continue to talk tough about fighting inflation. But is it a fight they can win? The numbers say no.

Peter Schiff: Markets Still Operating on False Confidence in the Fed

The four-week win streak in stocks came to an end last week with all of the major indexes down significantly on Friday. As Peter explained in his podcast, it appears the markets are coming to terms with the fact the Powell Pivot may not come as quickly as anticipated. That means interest rates may go […]

The Mainstream Punditry Never Finds Bad News in Retail Sales Numbers

The mainstream has suddenly discovered price movements impact retail sales. For months, retail sales generally came in higher than expected. And for months the mainstream financial punditry ignored inflation and told us this signaled a strong economy. But in July, retail sales unexpectedly fell flat. Now the mainstream financial punditry claims this signals a strong […]

Inflation Makes Everybody Poorer (And It’s Government’s Fault)

The CPI fell modestly in July, but prices remained near 40-year highs at 8.5%. Meanwhile, President Biden did a victory lap, and Congress passed an “Inflation Reduction Act” that will only make inflation worse. It’s easy to look at inflation talk as political banter and wonky economic theorizing, but in fact, it hurts real people. […]

Peter Schiff: Joe Biden’s Unwarranted Inflation Victory Lap

Peter Schiff appeared on the Newsmax Saturday Report along with former Rep. Peter King (R-NY) to talk about President Joe Biden’s unwarranted inflation victory lap. The CPI for July came in slightly cooler than June’s sizzling 9.1%. But even at 8.5%, CPI remains near 40-year highs. But Biden focused on the unchanged month-on-month CPI to […]

Now What? SchiffGold Friday Gold Wrap Aug. 12, 2022

The Consumer Price Index data for July cooled even more than expected. The question is how will the Federal Reserve play this? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey breaks down the CPI data, talks about the Fed reaction, and speculates about the Fed’s next move and its impact on […]