Peter's Blog

Does the Jump in Retail Sales Mean the Economy Is OK?

Retail sales rose 1% in June after a 0.1% decline in May. Mainstream media breathlessly reported that the jump in retail spending “eases” recession fears. Does it though?

Producer Prices Close to Record Levels in June

If you’re hoping red-hot inflation will cool down significantly in the coming months, you’re probably going to be disappointed if producer prices provide any indication.

The Fed’s Sophie’s Choice: SchiffGold Friday Gold Wrap July 15, 2020

It happened again. The CPI data for June came in hotter than expected. Prices rose at the fastest pace in this inflationary cycle. That pushes the Fed ever closer to having to make a very difficult choice. In this episode of the Friday Gold Wrap, host Mike Maharrey breaks down the most recent CPI data […]

Another Hot CPI Read Backs the Fed Deeper into a Corner

Fed Chair Jerome Powell and other members of the central bank have continued to talk tough about fighting inflation. But I’m pretty certain that in private, they were desperately hoping to see some cooling in the inflation data so they could start backing out of the ring. With a recession pretty clearly on the horizon […]

Slowdown in Money Creation Could Be Another Recession Signal

The slowdown in money creation could be signaling a recession. The growth in the money supply has dropped precipitously over the last several months. As measured by M2, the money supply expanded by 6.6% year on year. That was down from April’s growth rate of 8.21%. In  May 2021, M2 grew by 14.30%. M2 growth […]

Air Is Hissing Out of the Housing Bubble at an Accelerating Pace

Air is hissing out of the housing bubble faster and faster every week. Pending sales plunged in June and the inventory of homes on the market jumped as mortgage rates continue to rapidly rise.

Three Reasons We’re Having a Silver Sale

Silver has dipped below $20 an ounce for the first time in two years. But given silver’s fundamentals, the current economic dynamics, and the trajectory of the Fed, silver appears very oversold. For the next week, you can take advantage of the lowest silver spot price in years, and we’ll even sweeten the deal with […]

American Consumers Added to Record Debt Level in May

American consumers added to their record levels of debt in May as they continue to struggle to make ends meet in this inflationary environment. Americans increased their debt load by $22.35 billion in May, according to the latest data from the Federal Reserve. That represents a 5.9% annual increase.

Peter Schiff: This Won’t Be a Short Shallow Recession

The mainstream seems to have conceded that the economy is heading toward a recession. But most people aren’t too worried. They seem to think the downturn will turn out short and shallow. In his podcast, Peter explains why the recession will more likely be long and deep. Since people don’t understand the nature of the […]

Writing Checks They Can’t Cash: SchiffGold Friday Gold Wrap July 8, 2022

The Federal Reserve is putting on quite the tough guy act. Everybody is convinced the central bank is going to keep up the inflation fight even if the economy gets shaky. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed’s hawkish messaging and wonders out loud if the […]