Peter's Blog

The US Government’s Unsustainable Primrose Path of Debt

Month after month, the Trump administration runs multi-billion dollar deficits. The national debt has ballooned to over $22 trillion. According to the most recent Treasury Report, the US has a net worth of negative $21.5 trillion. And this understates the problem. As Wolf Richter of WolfStreet puts it, the US government has “debt out the […]

The Fed’s Winners and Losers – Ultimately, We’re All Losers

When the Federal Reserve artificially manipulates interest rates, it’s messing with our minds by distorting important signals that prices provide in a free market. As investment guru Jim Grant put it in a recent article in Barron’s, central bank interest rates are nothing but crude price controls. Like all price controls, the Fed’s interest rate […]

Monetary Heroin: SchiffGold Friday Gold Wrap 04.19.19

Just a few weeks ago, the mainstream was worried about economic growth. Now, all of a sudden, the mainstream is bullish about economic growth. It seems like the high from the Fed’s monetary heroin has fully taken hold. And it’s not just in the US. In this episode of the Friday Gold Wrap, host Mike […]

Kicking the Can Down the Road

We got more signs that the economy is slowing down this week. And yet pundits and policymakers keep insisting everything is great. In his latest podcast, Peter Schiff says he thinks people like Donald Trump and Larry Kudlow know deep down that things aren’t that great, but they want to keep kicking the can down […]

The Fed Is Chasing Unicorns

Last November, Fed Chair Jerome Powell said interest rates were “just below the broad range of estimates of the level that would be neutral for the economy.” This was the excuse for the central bank’s monetary policy 180 and set the stage for the “Powell Pause.” Central bankers are perpetually on a quest to find […]

Wash, Rinse, Repeat: SchiffGold Friday Gold Wrap 4.12.19

Gold has been rangebound for months, gyrating up and down around the $1,300 mark. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about this “wash, rinse, repeat” cycle we’re seeing in the precious metals markets and then pivots into a discussion of some more fundamental dynamics. Mike touches on the financial […]

Peter Schiff: Capitalism Isn’t the Problem Here

How are all of these unprofitable companies staying afloat and even making big splashes with media-hyped IPOs? Peter Schiff addressed this question, along with the supposed “failure” of capitalism in his most recent podcast.

Trump Calls for Obama-Era Monetary Stimulus

The “Powell Pause” is not enough. President Donald Trump not only wants interest rates cuts; he wants to put quantitative easing back in play. During an interview Friday, the president once again complained about the Fed’s 2018 interest rate increases, saying “they really slowed us down.” Trump wants stimulus and called on the Fed to […]

Who’s Gonna Save Us? SchiffGold Friday Gold Wrap 04.05.19

In this week’s Friday Gold Wrap, Mike Maharrey covers some more bad signs in the economy, including rising oil prices, an unexpected drop in retail sales and a surge in negative-yielding government bonds. At best, it looks like the economy is slowing down. Or it could be the prelude to the next crisis. This raises […]

Central Banks Are Messing With Your Mind – Literally

In the March 8 episode of the SchiffGold Friday Gold Wrap podcast, Mike Maharrey emphasized the importance of understanding sound economic theory. And as economist Frank Shostak explained, facts and figures aren’t enough to digest what’s going on in the economy. In order to really make sense of the data one must have a theory, […]