Peter's Blog

Existing Home Sales Chart Longest Streak of Declines Ever

The US economy runs on money printing and artificially low interest rates. Nowhere is that more obvious than in the housing market. With aggressive rate hikes in its war against price inflation, the Federal Reserve pricked the housing bubble and air continues to seep out. Existing home sales fall for the 11th straight month in […]

A Ticking Time Bomb: Rising Consumer Debt and Rising Interest Rates

Rising consumer debts colliding with rising interest rates is a ticking time bomb. Over the last several months, consumer debt has climbed at a steep, steady pace as Americans struggle with rising prices. November was no different, with consumers piling on another $27.9 billion in debt.

Rising Interest Rates on a Collision Course With a Wall of Debt

Jerome Powell still insists the Federal Reserve can beat inflation while bringing the economy to a “soft landing.” But there are underlying issues in the economy that make it extraordinarily doubtful that the economy can avoid a major downturn – despite Powell’s claims to the contrary. One of the biggest problems facing the Fed is […]

Ron Paul: The Mother of All Economic Crises on the Horizon

For the last several years, we’ve enjoyed the fruits of an economic bubble blown up by easy money and debt. But ultimately, that debt is going to be the economy’s undoing. Simply put, these debt levels are unsustainable without runaway inflation. So, pick your poison.

Big Spending Bill Is a Big Problem for the Fed’s Inflation Fight

Just before Christmas, Congress passed a massive omnibus spending bill. This is yet another blow to the Federal Reserve’s feckless fight against inflation.

Existing Home Sales Fall for 10th Straight Month as Housing Bubble Continues to Deflate

The US housing bubble continues to lose air at a rapid rate. Existing home sales fell for the 10th straight month in November. This stretch of declining home sales is longer than the housing bust preceding the 2008 financial crisis.

Peter Schiff: The Game Has Changed

Peter Schiff joined Liz Claman and Andrew Brenner of NatAlliance Securities to talk about the December Federal Reserve meeting and the messaging from Fed Chair Jerome Powell. Peter said investors need to understand that the game has changed. Inflation isn’t going away.

The Fed Hikes Rates to Highest Level Since 2007; That’s a Big Problem

As expected, the Federal Reserve raised interest rates by 50 basis points at the December Federal Open Market Committee (FOMC) meeting. That pushed the federal funds rate to 4.5%. The last time rates were this high was in 2007. That’s bad news for an economy addicted to easy money. While the pace of rate hikes […]

US Government Runs Another Massive Budget Deficit; This Is Bad News for the Fed Inflation Fight

The US government ran a massive $248.5 billion deficit in November, according to the latest Monthly Treasury Statement. There was only one month in fiscal 2022 with a bigger budget shortfall. This is bad news for the Federal Reserve as it tries to raise interest rates and shrink its balance sheet to fight price inflation.

J. Powell’s Do-Si-Do: SchiffGold Friday Gold Wrap Dec. 2, 2022

Federal Reserve Chairman Jerome Powell came out this week and indicated the central bank is set to pivot away from its aggressive rate hikes. But he couched the announcement in hawkish terms. The markets bought the pivot and ignored the hawkishness. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey puts Powell’s […]