A = coronavirus. B = economic meltdown.
A caused B.
That’s the mainstream narrative when it comes to the economic pain we’re feeling right now.
But in reality, A did not cause B. B was in the works long before A came along.
It seems like everybody is getting a bailout right now. The government is handing out money it doesn’t have left and right. This is all justified because of coronavirus. Even conservatives who normally oppose government bailouts have jumped on the stimulus train. “This is a crisis!” they cry. The government has to step in. But as Peter Schiff explains in his podcast, the government crippled the economy in the first place. A government crutch isn’t the solution to the problem.
Earnings reports started coming in last week. It was a mixed bag, with some companies showing the negative impacts of the coronavirus-induced government shutdowns, but other companies coming in more upbeat. Peter Schiff appeared on RT Boom Bust to talk about it. He said the only thing the stock markets have going for them right now is the Federal Reserve. But one sector will truly benefit – gold.
I’m at work right now.
I’m still wearing my pajamas.
Welcome to the strange new world of coronavirus lockdown.
It was another crazy week on Wall Street with a lot more economic doom and gloom, punctuated by a complete meltdown of the oil futures market. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about some of the highlights – or lowlights – but he also injects a little optimism into the conversation and offers some constructive advice.
Gold has been in the spotlight in recent months with the economic chaos caused by the coronavirus pandemic and governments’ response. Peter Schiff called gold a “no-brainer” investment. But silver is worth paying attention to as well.
The Silver Institute has released its World Silver Survey 2020 report featuring a detailed overview of last year’s silver market and a look ahead as we move through the current year.
Why is the mainstream financial media mostly ignoring gold? Peter Schiff talked about it in a recent podcast. He said the investment pundits are missing the boat on a “no-brainer” investment.
The mainstream just went super-bullish on gold.
Bank of America raised its 18-month price target to $3,000 per ounce in a report titled, “The Fed Can’t Print Gold.”
Peter Schiff recently appeared on Newsmax The Income Generation with David Scranton to talk about the impacts of the coronavirus government shutdown on the economy. The segment turned into a somewhat contentious debate about inflation. Guest host Jeff Small insisted we aren’t going to see price inflation, despite the Federal Reserve creating trillions of dollars out of thin air. Peter said Small’s ideas are divorced from economic reality.
The US government budget deficit in March came in at $119 billion, according to the latest US Treasury Department Report.
That’s a massive budget shortfall. But it’s actually the calm before the storm.
