Peter's Blog

How Long Before This Time Bomb Blows Up?

When governments started locking down economies in response to the coronavirus pandemic, the Federal Reserve sprung into action. The central bank immediately cut interest rates to zero and launched what we’ve called “QE infinity.” Since then, the Fed has ballooned its balance sheet by nearly $3 trillion and increased the money supply at a record […]

Wave of Corporate Mergers Could Put More Americans Out of Work

Last week, we reported on the number of temporary layoffs that are turning into permanent job losses.  Now Goldman Sachs is projecting even more permanent job losses coming down the pike as a wave of mergers, acquisitions and corporate takeovers sweeps through the economy.

Why Do We Put So Much Faith in Central Bankers?

Well-known management consultant Peter Drucker perfectly described the predicament faced by central bankers. You can’t manage what you can’t measure.” So why do we put so much faith in central bankers?

2020 Budget Deficit Comes In at a Cool $3.13 Trillion

The fiscal 2020 budget shortfall totaled $3.13 trillion as Uncle Sam added another $124.6 billion to the deficit in September, according to the latest Monthly Treasury Statement. That more than doubles the previous record deficit of $1.4 trillion set in 2009 at the height of the Great Recession.

These Jobs Ain’t Comin’ Back: SchiffGold Friday Gold Wrap Oct. 16, 2020

It’s been months since the US started to reopen after the government-imposed coronavirus shutdowns and yet hundreds of thousands of Americans continue to file for unemployment every week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a close look at the labor market and concludes that a lot of these […]

“Temporary” Layoffs Turning Into Permanent Job Losses

When governments across the US forced businesses to close down in response to the coronavirus pandemic, everybody assumed the layoffs would be temporary. Despite the huge surge in unemployment, the expectation was people would quickly return to work once the crisis passed and the economy opened up again. But as the pandemic stretches into its […]

Corporate Bankruptcies Surge; Small Businesses Simply Shutting Down

As pundits and politicians continue to speculate about economic recovery, hundreds of companies large and small are struggling under loads of debt, filing for bankruptcy and closing their doors. In September, 54 more large companies filed for bankruptcy, according to S&P Global intelligence. A total of 509 companies have gone bankrupt this year as of […]

What Is the Retail Mess Telling Us? SchiffGold Friday Gold Wrap Oct. 9, 2020

Regal Cinemas shut down all of its US theaters this week. The company said the closure is temporary, but it reveals the deeper strain in the retail sector. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs deeper into the retail mess and talks about what it is telling us about […]

Stock Market Bubble X.0: SchiffGold Friday Gold Wrap June 5, 2020

The economy has gone through the quickest and arguably the deepest collapse in history, but the stock market has been rallying. How can this be? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey says look no further than the Federal Reserve. Despite the economic chaos, it has managed to blow up […]

If It Was Game Over for the Fed Then Where Are We Now?

In a speech at the Cambridge House Vancouver Resource Investment Conference back on Jan. 19, 2020, Peter Schiff said it was “game over” for the Federal Reserve. It’s interesting to look back at his remarks in context with what’s going on over at the central bank today. If it was game over then, where are […]