Peter's Blog

Extreme Is the New Normal: SchiffGold Friday Gold Wrap Jan. 31, 2020

The Federal Reserve held its first FOMC meeting of 2020. It was mostly met with yawns as the Fed held rates steady, and despite a somewhat dovish tone, indicated that it probably wouldn’t make any moves on interest rates this year. We’ve grown so used to low interest rates that it barely registers that the […]

Peter Schiff: The Stock Market Is Overlooking Bad Economic and Political Data

Stock markets made new highs on Wednesday, but as Peter Schiff explained in his latest podcast, there are a lot of cracks under the surface. The markets are surging forward even as they overlook bad economic data and chilly political winds.

Last Week in Review: Monday Sept. 30, 2019

Here is a summary of some of the significant economic data/news that came out last week. Third-quarter 2019 new orders for durable goods remain on track for a second annual decline.  August 2019 Real New Orders for Durable Goods showed a monthly gain of 0.2% [1.0% ex-Commercial Aircraft], but an annual decline of 4.9% [down […]

American Consumers Propping Up Economy With Money They Don’t Have

Consumer debt is driving American economic growth. Total outstanding consumer debt surged over $4.1 trillion in the second quarter of 2019, according to the latest data released by the Federal Reserve. American indebtedness grew by 4.9 over the year, and the quarterly gain from Q1 to Q2 came in at $60 billion — the biggest […]

Peter Schiff: What’s Going on With the GDP?

The Commerce Department released the first estimate of Q1 GDP growth on Friday. It came in higher than expected at 3.2%. Somewhat surprisingly, the price of gold rose on the news and the dollar showed some weakness. The primary reason was presumably lower inflation. This means the Fed still has the excuse it needs to […]

Peter Schiff: A Gift From the Federal Reserve

The Dow Jones closed out Q1 2019 with its best quarterly gain since 1998, rising 10.3% through the first three months of the year. And the Dow Jones wasn’t alone in its bang-up first quarter. The S&P 500 rose 12.3%. The Russell 2000 was up 13.8%. And the Nasdaq led the entire pack with a 15.6% […]

Peter Schiff: We’re not Borrowing Ourselves Rich; We’re Borrowing Ourselves Broke

Peter Schiff has been saying that despite the recent stock market rally and all of the optimism about an end to the trade war, a recession is a done deal. There is plenty of economic data to back up despite the recent economic growth. In his most recent podcast, Peter Schiff said that while the […]

Patience Grasshopper! SchiffGold Friday Gold Wrap 03.01.19

Jerome Powell went to Capitol Hill this week and continued to preach patience. In other words, the Powell Pause is still firmly in play. In fact, the Fed chair confirmed that balance sheet reduction is a done deal. But why this sudden patience? In this episode of the Friday Gold Wrap podcast, Mike Maharrey talks […]

Drop in Credit Card Spending Could Signal Problems in Economy Built on Consumer Debt

Americans took on another $10.9 billion in debt in September, according to data released by the Federal Reserve. That pushed total consumer debt to a seasonally adjusted $3.95 trillion. American indebtedness is growing at a 3.3% rate. But there are signs that American credit card borrowing is slowing down and that’s not good news in […]

The Economy’s Rotten Foundation: SchiffGold Friday Gold Wrap 09.21.18

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.