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With 2021 now in the rear-view mirror, I believe that future financial historians may regard it as the year of peak speculation. While the history of American markets is littered with periods of irrational exuberance, none of those episodes can really match the current market for outright delusion and the blatant disregard for basic investment […]
Joe Biden keeps touting the “booming” economic recovery. And of course, he’s taking credit for it. But is the economy really booming? If you look at GDP growth, it certainly appears the US economy is in the midst of a robust recovery. But economic growth is relative. And when your baseline is an economy that […]
Inflation in the US is at historically high levels. So, why hasn’t gold taken off? We hear this question over and over again. In this video, Peter Schiff answers this question and explains why the markets will eventually wake up to their misperception.
Ireland has added more gold to its reserves as inflation worries mount. According to the latest data, the Central Bank of Ireland purchased $88 million ($78 million euros) in gold in November, adding to the two tons it added to its holdings in previous months. With the latest purchases, the Irish central bank has boosted […]
We talk a lot about how the Fed keeps its big fat thumb on the Treasury market. But it also has its big fat thumb on the housing market. And if the Fed really does follow through with its taper and its plans to shrink its balance sheet, it will have a big effect on […]
The Federal Reserve is talking about raising interest rates. Well, that’s going to be a big problem for American consumers who are running up debt at a torrid pace. This is yet another reason why the Fed can’t do what it’s claiming it will do. Consumer debt jumped 11% year-on-year in November, according to the […]
The Federal Reserve released the minutes from the December FOMC meeting on Thursday (Jan. 5) and the markets freaked once again at the prospect of monetary tightening. The minutes seem to indicate an even more abrupt shift to tighter monetary policy to fight inflation. But I have questions.
I hope everybody had a great Christmas and found everything they wanted under their Christmas tree. In the spirit of the season, I want to tell you about a Christmas present James Madison gave the United States way back in 1798. It is a bit of history that has fallen down the Orwellian memory hole. […]
Inflation is sizzling hot. Gold has historically served as an inflation hedge. So, why hasn’t gold caught a bid? In a word, confusion. Taper tantrums and fear of Fed rate hikes have generated massive confusion in the markets. People are selling gold when they should be heavily buying gold in the dips. And at the […]
Labor market productivity has been dropping for decades. And you can trace the plunge back to the demise of the gold standard. US labor market productivity plummeted in the third quarter of 2021. Revisions to the data showed a 5.2% drop in productivity, even worse than the dismal initial reading last month. It was the […]
