Peter's Blog

National Debt Quietly Blows Past $32 Trillion

The great anti-federalist Brutus wrote, “I can scarcely contemplate a greater calamity that could befall this country, than to be loaded with a debt exceeding their ability ever to discharge.” And here we are. With little fanfare, the national debt blew past $32 trillion last week.

Mainstream Perception vs. Economic Reality: SchiffGold Friday Gold Wrap Podcast June 16

There is the mainstream and market perception of what going on in the economy and financial system. And then there’s the underlying economic reality. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the growing divergence between the two in the context of the June Federal Reserve meeting and the […]

Have We Seen the Last Fed Rate Hike of This Cycle?

As was widely expected, the Federal Reserve Open Market Committee (FOMC) put rate hikes on pause at the June meeting, although it indicated we should expect additional hikes before the end of the year. The question is how long will the pause last and will the next Fed move actually be a rate cut?

Energy Disguises a Pretty Bad Inflation Number

The CPI rose in May by 0.12%. Energy accounted for -0.25% of the move. This means without the move in Energy, the CPI would have risen by 0.37% which annualizes to a rate of 4.5%. This shows that inflation is still quite problematic.

The Inflation Tax Is Eating Your Lunch

How much is the inflation tax costing you? Based on calculations by public finance economist EJ Antoni, around $7,200 since January 2021 for the average family.

At Its Core Price Inflation Still Running Hot

The Consumer Price Index (CPI) increased by the smallest annual amount in more than two years in May. This means the inflation fight is over and inflation lost, right? Not so fast.

High Interest Rates Not Stopping Americans from Running Up More and More Debt

Despite the high interest environment intended to slow down borrowing, American consumers continue to run deeper and deeper into debt as they cope with sticky inflation. Consumer credit spiked by another $20 billion in April, a 5.7% increase year on year, according to the latest data released by the Federal Reserve.

A Surging National Debt Is Bullish for Gold

The debt ceiling drama ended with fake budget cuts and a shiny new credit card with no limit for the federal government. We can now expect a big surge in the national debt as the US government plays catch up after nearly six months up against its borrowing limit. So, how might this impact the […]

I Told Ya So! SchiffGold Friday Gold Wrap June 9, 2023

In this episode of the Friday Gold Wrap, host Mike Maharrey engages in a little “I told you so!” discussing a couple of things he got right, including his assertion that the real problems would start after the debt ceiling deal and that it was important to keep your eye on the commercial real estate […]

National Debt Surges By Over $350 Billion in One Day After Debt Ceiling Deal

I warned you. I said when the fake debt ceiling fight ended, the real problems would begin. Well, the debt ceiling fight is over, and here we are. On the first working day after the so-called Fiscal Responsibility Act went into effect, the national debt surged by $359 billion.