Peter's Blog

National Debt Tops $22 Trillion

The national debt has pushed beyond the $22 trillion mark. According to Treasury Department data released Tuesday, the national debt now stands at $22.01 trillion. When President Trump took office in January 2017, the debt was at $19.95 trillion. That’s a $2.06 trillion increase in the debt in just over two years. 

The US Government Has Spent Itself Inbetween a Rock and a Hard Place

As we pointed out in an article last week, the US federal government has added $1.5 trillion to the national debt over the last 12 months. As a result, the US Treasury Department is flooding the market with bonds. Meanwhile, the biggest buyers of US debt – China, Japan and the Federal Reserve – are […]

US Adds $1.5 Trillion to Debt in 12 Months; Who’s Buying All These Bonds?

Over the past 12 months, the US federal government has added $1.5 trillion to the national debt. As of Jan 30, the debt stood just under the $22 trillion mark at $21.97 trillion, according to the latest Treasury Department data. As WolfStreet put it,  we’re seeing these rapidly increasing levels of debt during “good times when […]

The Powell Put Is On! SchiffGold Friday Gold Wrap 02.01.19

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

Exploding US Debt “The Most Viable Threat” to the Economy

Tocqueville Management Corp. chairman John Hathaway says the growing US government debt to GDP ratio poses “the most viable threat” to the US economy. In his fourth-quarter investment letter, Hathaway said the ballooning US debt, coupled with a bear market and a recession, will likely weaken the dollar and send gold much higher in the near future.

Merry Christmas from Uncle Sam — You Got More Debt!

Between Christmas 2017 and Christmas 2018, the US government added a staggering $1,370,760,684,441.54 to the national debt, according to Treasury Department figures. If you split that up between all American, your share of Uncle Sam’s 2018 spending spree comes to about $4,178.10. Merry Christmas! You’re welcome.

China and Japan Dump More US Debt

China and Japan dumped more US Treasuries in October, even as the federal government continued to run up its debt. Chinese holdings of US Treasuries dropped for the fifth straight month, sinking to the lowest level since May 2017, according to data recently released by the Treasury Department. The total amount of US debt held […]

Uncle Sam Runs Record $205 Billion Deficit in November

Washington D.C. just keeps right on spending. The U.S. federal government ran a $204.9 billion deficit in November, according to the most recent Treasury Department report. That set a record for the month of November.

The Blue Ripple: SchiffGold Friday Gold Wrap 11.09.18

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

Peter Schiff: Divided Congress Will Produce Even Bigger Deficits

Well, the midterm elections are finally over. The Republicans managed to hold on to the U.S. Senate, but the Democrats took control of the House. The “Blue Wave” was more like a “Blue Ripple.” To me, it smells a lot like gridlock, which is generally good news if you’re a person who favors smaller government. Gridlock […]