Peter's Blog

Navigating By Stars on a Cloudy Night: SchiffGold Friday Gold Wrap Oct. 27, 2023

When it comes to economic data, context matters. In this episode of the Friday Gold Wrap, host Mike Maharrey explains how the Fed, many mainstream economists, and financial network talking heads get a lot wrong because of bad data, shoddy economic frameworks, and ignorance of history. Along the way, he covers the GDP and the […]

Jim Grant: The Fed Needs Some Grounding in Financial History and Common Sense

Will the Federal Reserve raise interest rates again? Or is this hiking cycle over? Will it really hold rates higher longer, or will it cut in the near future? Everybody in the financial world is trying to predict the central bank’s next move. Fed members insist they are data-dependent and will go where the numbers […]

Biden Administration Runs Third-Largest Budget Deficit in US History

The Biden administration ran a $1.695 trillion budget deficit in fiscal 2023. It was the third-largest deficit in US history. The only time the US government ran bigger deficits was during the COVID years of 2020 and 2021. The government closed out the year with a $170.98 billion deficit in September, according to the final […]

Peter Schiff: This Is the Most Obvious Financial Crisis That Nobody Sees Coming

The mainstream continues to insist that the economy is fine. Inflation is beat. A soft landing is in play. But in his podcast, Peter Schiff said we’re in the early stages of a financial crisis. It should be obvious, but very few people see it coming.

The Illusion of Prosperity: SchiffGold Friday Gold Wrap Oct. 20, 2023

The economy is strong. The American consumer is resilient. Everything is great. At least that’s the mainstream narrative. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains why it’s all just an illusion of prosperity. Along the way, he covers the September retail sales data, Federal Reserve Chairman Jerome Powell’s speech […]

Cracking Commercial Real Estate Market Stressing Banks

Problems in the commercial real estate  (CRE) sector continue to bubble under the surface. This is a major stress point for US banks and could precipitate the next phase of the financial crisis. A combination of high interest rates and declining tenancy is putting the squeeze on commercial real estate owners. As a result, banks […]

Global Debt at Record Levels and the Free Lunch Is Over

Global debt rose $10 trillion to a record $397 trillion in the first half of 2023, according to the Institute of International Finance (IIF). The big increase in debt occurred despite tightening credit conditions, and it is an increasingly worrisome problem because the “free lunch” of artificially low interest rates is over.

Peter Schiff: The Government Is Lying About Inflation

The CPI has cooled in recent months, but Americans say they’re still struggling with rising prices and they’re worried about inflation. Why is there this dichotomy between people’s perceptions and the official data? Peter Schiff recently appeared on Real America with Dan Ball to talk about the economy. He said the problem is the government […]

Inflation Not a Problem If You Don’t Buy Anything! Friday Gold Wrap Oct. 13, 2023

Great news! The inflation war is over and we won! At least that’s how Paul Krugman sees it. But he’s playing tricks with the data and making assumptions that are meaningless in the real world. In this episode of the Friday Gold Wrap, host Mike Maharrey dissects Krugman’s claims in light of the September CPI […]

Bidenomics: National Debt Increases By Another Half-Trillion in Just 20 Days

Twenty days. That’s how long it took the Biden administration to add another half-trillion dollars to the national debt. Bidenomics certainly requires a lot of borrowing and spending.