Peter's Blog

Every first Monday in September, Americans get a three-day weekend. Barbecues fire up, stores run sales, and politicians give speeches about “the dignity of work.” Labor Day is sold as a straightforward tribute to the American worker. But, as with most official retellings of historical turning points, the real history of Labor Day is a […]

Richmond Fed President Tom Barkin told a business audience in Greenville, South Carolina, this week that the United States has averaged 2.5 percent real GDP growth since 2023 despite the pandemic, supply-chain shortages, Russia’s invasion of Ukraine, conflicts in the Middle East, tariffs, and higher interest rates. He credited stout consumption, still nearly 70 percent […]

The model of software-as-a-service is dead. Already successful businesses have been able to hold onto some of their past glory, but new SaaS businesses have it much more difficult than they did even five years ago. Businesses are tired of paying for tools that have potential to make them more efficient. People are ready to […]

The AI bubble has become a frequent fixture in the financial news cycle as pundits and institutions express their fear that, when it pops, it could drag the global economy into crisis. Central bankers and institutions like the Bank for International Settlements (BIS) are sounding alarms about debt-fueled AI investments, overexuberance, fragile funding structures, and […]

China’s economic rise in recent decades has been nothing short of remarkable. Many attribute this success to the country’s ambitious industrial policy, which involves central planning and heavy government intervention in the economy. However, a closer look reveals that this approach leads to inefficiency and distortions that ultimately undermine economic progress. The following article was […]

Whether one is a fan or a foe of AI, almost everyone believes in its incredible world changing power. What I’m about to tell you might be a shock, but AI will not fundamentally change the way the world works. While it does have some unique capabilities, it is far from the panacea that most […]

While constantly predicting the inevitable decline of the dollar and the governmentally-entwined systems of commerce that our society is centered around is not often a joyful job, there are still some things that should give you hope for the state of our country and the world. SchiffGold is so often focused on the negatives because […]

Despite pundits’ claims to the contrary, war is not good for the economy. When warhawks fail to grasp this, they fall prey to the age-old broken window fallacy. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold. War is the ultimate […]

When John Stewart Mill remarked that many children of intelligent men do not develop great intelligence, but rather have their mental faculties overlaid with facts and rote repetition, he pointed to a duality in the understanding of education that has the power to make or break a nation’s long-term productivity. Many bureaucrats and professional educators […]

Most careers today have some possibility of being diminished or replaced by artificial intelligence. This has sparked great fears among many citizens and academics that most people will end up without a job and business elites will keep getting richer. They believe that there will be a vast structural surge of unemployment in which the […]