Peter's Blog

You Call This Transitory? SchiffGold Friday Gold Wrap Nov. 12, 2021

The October Consumer Price Index data came out this week. They expected it to come in hot. But not this hot. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the CPI numbers, along with another inflation index that looks even worse, and he wonders out loud how anybody can […]

Analysis: CPI Blasts Past Expectations; Price Increases Widespread

The October CPI data came in even hotter than expected, and we saw widespread price increases across multiple categories. The following provides an in-depth analysis of the most recent CPI data.

Peter Schiff: You’re Going to Be on the Hook for Rising Producer Prices

Much hotter than expected CPI data for October stole the spotlight on Wednesday, but there was more bad news on the inflation front that received less attention. The annual Producer Price Index (PPI) increase in October tied September’s record, as rising producer prices continue to undercut the “transitory inflation” narrative.

They Expected Inflation to Come in Hot in October; It Came in Sizzling

The consumer price index was expected to come in hot yet again in October. It came in sizzling. The actual CPI numbers for last month were even hotter than expected as “transitory” inflation remained well above 5% on an annual basis for the sixth straight month.

Peter Schiff With Megyn Kelly: Inflation Robs Working and Middle-Class Americans

Despite government officials and central bankers continuing to peddle the “transitory” inflation narrative, the average American isn’t buying it. They feel the squeeze of rising prices in their wallets. And it’s the average American who is hurt particularly hard by the skyrocketing cost of living. Peter Schiff appeared on the Megyn Kelly show to talk […]

Inflation Expectations Have Become Unanchored

American consumers aren’t buying the transitory inflation narrative. Even after five straight months of annual CPI increases over 5%, Jerome Powell continues to insist inflation is “transitory” and the result of a “supply chain problem.” But according to the New York Federal Reserve Survey of Consumer Expectations, people aren’t buying this story. They expect inflation […]

Treasury Binges in October, Adding Almost Half a Trillion in Debt

After all the drama, Congress finally did what everyone knew it would do.  It raised the debt ceiling by $480 billion in October. The Treasury wasted no time and quickly added $480 billion to the national debt in the second half of the month. With this new debt tagged on, if the Fed has to […]

As Prices Rise, Americans Turning to Credit Cards

American consumers piled on more debt in September as higher prices squeezed wallets. Consumer credit grew by $29.9 billion in September, bringing the total to $4.37 trillion, according to the latest data from the Federal Reserve. The increase in consumer debt nearly doubled the consensus estimate of a $15.5 billion increase.

It’s Taper Time! But so What? SchiffGold Friday Gold Wrap Nov. 5, 2021

The Federal Reserve wrapped up its FOMC meeting on Wednesday and finally announced the much-anticipated QE taper. The Fed will cut its bond-buying program by about $15 billion a month. But so what? In this episode of the Friday Gold Wrap, host Mike Maharrey digs into the Fed announcement and raises some very important questions.

What Is Inflation?

When we talk about “inflation,” most people immediately think about rising prices. That is indeed one of the effects of inflation. But that isn’t inflation itself. Properly defined, inflation is an increase in the money supply. In fact, that used to be the standard definition of inflation. Over time, the government has changed the definition. […]