Peter's Blog

Say’s Law Says It All

As the world descends into a much-heralded recession, the surprise will be that interest rates will continue to rise as economic activity contracts. This is not what the economic establishment expects. This article puts the outlook in the context of classical economic theory, when it was the principles behind the division of labour which went […]

Peter Schiff: Government Spending Has Bankrupted the U.S.

Peter Schiff recently appeared on the Capitol Report on NTD News to talk about the state of the US economy. He explained how government spending has created the price inflation Americans continue to struggle with, and how it has bankrupted the United States.

National Debt Grew by over $1.3 Trillion in Just Three Months

The federal government has added $1.3 trillion to the national debt in just three months. When the fake debt ceiling fight ended and Congress suspended the federal government’s borrowing limit for two years in June, the national debt stood at $31.46 trillion. As of Aug. 26, the debt had surged to $32.81 trillion. And with […]

Ron Paul: Growing National Debt Menaces Our Prosperity and Our Liberty

The national debt has climbed to a staggering $32.7 trillion. In just the first two months after Congress reached a deal and suspended the debt ceiling for two years, the national debt surged by $1.2 trillion. And there is no end in sight.

Biden Budget Deficits Look Like Those Normally Seen In Recessions

To hear President Joe Biden tell it, the US economy is booming. Meanwhile, the Biden administration is running monthly budget deficits that you would normally see during a deep recession. With two months left to go, the deficit for fiscal 2023 now stands at $1.61 trillion, after the federal government charted another massive shortfall in […]

The Bill Is Coming Due! SchiffGold Friday Gold Wrap Aug. 11, 2023

Credit cards are great until the bill comes due. And the US economy has about maxed out the plastic. The Federal Reserve incentivized borrowing and the economy is buried under trillions of dollars in debt. As Friday Gold Wrap host Mike Maharrey explains in this episode, the bill is about to come due. He also […]

Fitch Slashes US Credit Rating

The debt ceiling deal was supposed to stabilize things for the US government. By suspending the debt limit for two years, Congress mitigated the fear of a US default, but the deal apparently wasn’t enough to paper over the dysfunction in Washington DC. On Tuesday, Fitch Ratings downgraded the US’s long-term credit rating from AAA […]

The US Government Has Borrowed Over $1 Trillion Since the Debt Ceiling Deal

There’s a big problem that pretty much everybody is ignoring. In just two months since Congress reached a deal and suspended the debt ceiling for two years, the national debt has surged by a staggering $1.2 trillion. Within a week of the debt ceiling suspension, the national debt cracked $32 trillion and as of July 28, […]

Fiscal 2023 Budget Deficit Already Higher Than Last Year’s Total With Three Months to Go

With three months left, the fiscal 2023 budget deficit has already eclipsed the massive 2022 shortfall. The US government ran a $227.77 billion deficit in June, pushing the total fiscal 2023 shortfall to $1.393 trillion, according to the Monthly Treasury Statement for June.

Fed People Saying Stuff: SchiffGold Friday Gold Wrap July 7, 2023

Despite doing nothing at the June meeting, Federal Reserve officials continue to talk tough about fighting inflation. The anticipation of another rate hike created headwinds for both stocks and gold this week. But Friday Gold Wrap host Mike Maharrey thinks something is amiss. In this episode, he talks about the disconnect between the central bankers’ […]