Peter's Blog

Goods Deficit Approaches $100 Billion

November 2021 charted a total trade deficit of -$80.2B just shy of the record -$81.4B in September. However, the data this month is far more concerning when digging into the details. After a massive surge in the trade deficit occurred in September, October saw a big pullback to -$67.1B. The details showed that the volatility was […]

Data Anomaly Causes October Trade Deficit to Shrink

The October trade deficit fell but the drop was primarily due to a data anomaly. October 2021 charted a total trade deficit of -$67.1 billion. It was the lowest trade deficit since April 2021. Month-on-month, the trade deficit fell 17% from the record set in September.

September Trade Deficit Smashes June Record by 10.5%

The September trade deficit smashed the record set just last June. September 2021 charted a total trade deficit of -$80.9 billion. That was up a massive 11.2% over the August trade deficit of -$72.8 billion and crushed the previous June record of -$73.2 billion by over 10.5%.

Peter Schiff: We Can’t Ignore These Record Trade Deficits Forever

Trade deficits used to be an important market mover. In fact, many blame the 1987 stock market crash on a much worse than expected trade deficit. That led to weak dollar and bond markets that bled over into the stock market. But today, traders mostly ignore the trade deficit. In fact, the US trade deficit […]

Peter Schiff: This Is a Record We Don’t Want to Break

A surge of imported services drove the trade deficit to a new record in August. Peter Schiff appeared on NTD News to talk about the trade imbalance. He said it is not a sign of a strong economy and not the kind of records we want to be breaking.

Surge in Imported Services Sends Trade Deficit to New Record

The US trade deficit surged to yet another new record in August as Americans are importing more and more services to go along with all of their imported goods. The August trade deficit came in at $73.25 billion, 4.2% higher than the July trade deficit of $70.3 billion. The August deficit set a new record […]

July Trade Deficit Shrinks but Trailing Twelve Month Number Hits New Record

The month-on-month trade deficit fell in July but remains far larger than it was a year ago. And the Trailing Twelve Month figure hit a new record.

June Trade Deficit Sets New Record of $75.7 Billion

The US Trade Balance shows the deficit and surplus of US trade for Imports and Exports. A deficit occurs when imports are greater than exports. When the Trade Balance is in deficit (which it has been for decades), it accounts for one of the two components of the Twin Deficits. The Fiscal Deficit accounts for […]

It’s Game Over if the Markets Call the Fed’s Bluff

The Federal Reserve insists inflation is “transitory” and the economy is making “progress.” Yet, it continues with the extraordinary monetary policy it launched at the onset of the COVID-19 pandemic. Meanwhile, we’re seeing all kinds of data hinting that the economy may not be as great as advertised. Despite this, and even as prices continue […]

Trade Deficit Analysis: May 2021

The US trade balance shows the deficit and surplus of US trade for imports and exports. A deficit occurs when imports are greater than exports. When the trade balance is in deficit, it accounts for one of the two components of the twin deficits. The fiscal deficit accounts for the other component and will be […]