Not too long ago, Peter Schiff said, “The rate hikes of the past have already guaranteed that the economy is headed for recession. It doesn’t matter whether they continue to raise rates in the future. The recession is a done deal.”
In a recent interview, economist and editor of the Gloom, Boom and Doom Report, Dr. Marc Faber, expressed a similar sentiment, saying, “Forget about the coming slowdown because the economy has already been backing up for months and we’re likely already in a recession.”
If you have studied economics at all, or if you are interested in conservative/libertarian political philosophy, you have probably heard of F.A. Hayek.
Hayek won the Nobel Prize in 1974 and wrote prolifically on both economic and non-economic topics. He’s probably best known for his book “A Road to Serfdom.”
Tom Woods recently interviewed economist Joseph Salerno about this important figure in economic and political theory.
On the Aug. 10 edition of Countdown to the Closing Bell on Fox Business, Peter Schiff faced off against Republican strategist Kevin Paul Scott to debate the success of Trumpanomics.
Liz Claman started the segment touting the “great jobs numbers.” So, has Peter jumped on the Trump economic bandwagon?
Not at all.
Peter Schiff appeared on RT America recently to talk gold.
The host noted the decline in the price of the yellow metal over the last few months and asked Peter if he thought it was because of the Fed’s interest rate hikes. Peter said, “No.” He said he thinks it has more to do with the “collective delusion among investors around the world.”
Pretty much everybody in the mainstream is giddy about the US economy. As Charles Payne on Fox Business put it, “The Trump economy continues to fire on all cylinders.”
Payne rattled off a long list of positive indicators, from increasing wages, increasing consumer confidence, and strong spending and income numbers. Payne said this is all “building on what’s already been an amazing economy.”
And then Peter Schiff came on and dumped cold water on the party.
Does gold still matter?
A lot of people dismiss gold and precious metals as irrelevant to the world monetary system. But how can money be irrelevant?
Liechtenstein-based Incrementum AG managing partner Ronald-Peter Stöferle joined Mises Institute president Jeff Deist to talk about all things gold, including why it is still money and an important part of the global financial system.
Mises Institute president Jeff Deist recently interviewed Danielle Booth, a veteran of the Dallas Fed and author of Fed Up: An Insider’s Take on Why the Federal Reserve is Bad for America, to discuss whether—or if—the Fed can ever return to “normal” monetary policy.
As Peter Schiff said during his recent speech at the Cambridge House International Mining Investment Conference, “Everything feels good until the party’s over. Nobody wants to question it. Nobody wants to rain on the parade.”
But every once in a while, you might overhear a more sober party-goer suggest, “Hey, isn’t it getting close to time to go home?
Border Capital CEO Michael Howell is that guy. During an interview on CNBC’s Squawk Box, he said investors should sell stocks because a correction is coming. He’s raised a rare voice of concern among a mainstream still caught up in party mode.
As we reported earlier this month, the federal government is borrowing money at record levels. The US Treasury’s net borrowing totaled $488 billion from January through March, adding to an already enormous national debt. In fact, the entire world is drowning in debt.
When we bring this fact up, a lot of people still just shrug and say, “So what? We’ve been running up debt for years. It hasn’t really caused any problems. Why worry about it now?”
David Stockman recently appeared on the Tom Woods Show. During the interview, the former Officer of Budget and Management director under Ronald Reagan explained exactly why we should worry about it now.
Ron Paul recently appeared on CNBC Futures Now and said the stock market is destined to go down – perhaps as much as 50%.
Because of the enormous amount of debt and monetary manipulation foisted upon the economy by the government and the Federal Reserve.