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The markets still seem to believe the Federal Reserve can ratchet price inflation back down to 2% while bringing the economy to a relatively soft landing. In his podcast, Peter Schiff throws cold water on this hopeful narrative. He goes through the economic data that came out last week shows that all roads appear to […]
A lot of mainstream pundits concede that the US economy is heading for a recession as the Federal Reserve continues to crank up interest rates in its inflation fight. But as Peter Schiff explained in a recent podcast, there is plenty of data that indicates the economy is already in a recession.
Americans consume goods other people produce. As America offshored its manufacturing, it promised to supply the world with high-priced services and technology in exchange. But as it turns out, that promise never materialized. The ballooning overall trade deficit bears this out. It leaped to another record high in March, surging 5.6% month-on-month to a new […]
What do you get when you hand Americans big fat stimulus checks after decades of offshoring the country’s manufacturing economy? Massive trade deficits.
We’ve talked a lot about government debt and consumer debt. In this episode of the SchiffGold Friday Gold Wrap, host Mike Maharrey highlights the massive corporate debt bubble. As he explains, it’s eerily similar to the mortgage debt bubble the blew up in the years prior to the 2008 crash. It’s a little like deja […]
Last week, we got bad news in the manufacturing sector. The ISM index of national factory activity dropped to a 10-year low. It was the second straight month the number was below 50, which indicates a contraction in manufacturing. That news sent stock markets into a tailspin. This was followed up by a very week […]
It was a bumpy ride in the markets this week. Right now, volatility is the name of the game – in both stocks and precious metals. People are getting nervous out there with some pretty grim economic data this week stirring up recession fears. Meanwhile, the US government just keeps spending money it doesn’t have. […]
During his podcast earlier this week, Peter Schiff said “the party is over” in the stock market. As if on cue, the Dow Jones is off to the worst start in a quarter since the 2008 financial crisis. The Dow plunged 494.4 points on Wednesday, a 1.86% decline. Combined with Tuesday’s 343.7 point drop, the […]
As Peter Schiff put it in his podcast, if the first trading day of the fourth quarter was a sign of things to come, bulls on Wall Street are in for a rough end to the year. In fact, Peter said the party is over and you don’t want to be the last one to […]
US manufacturing activity contracted in August, according to the latest data. The Institute for Supply Management (ISM) PMI index for August came in at 49.1. Any number under 50 signals a drop in manufacturing. This was the first contraction in three years and the first time the index has dropped below 50 since August 2016. […]
