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Inflation is dead! At least that’s what you would think if you listen to government officials and talking heads in the financial media. So, how is this victory over inflation working out for the average person? Not so great.
Why do virtually all the mainstream pundits think the Federal Reserve has won the inflation fight? Maybe it’s just wishful thinking. They want the Fed to win so it can go back to what it does best – creating more inflation with artificially low interest rates and quantitative easing. Regardless, most of the mainstream punditry […]
In a recent interview with Forbes, economic commentator and historian Jim Grant warned that we haven’t fully felt the inevitable fallout from the “free money era.” I think that the consequences of more or less 10 years of proverbially free money are going to play out in the credit markets.”
Most mainstream pundits characterized the November jobs report as a “Goldilocks” report. Job growth was strong enough to support the “soft landing” narrative but not so strong it might scare the Fed into raising interest rates again. President Joe Biden used the report to boast about his economic achievements. But according to Peter Schiff, Biden […]
The “resilient” American consumer seems to be running out of gas. Americans are still running up credit card debt but at a much slower pace. Meanwhile, borrowing for big-ticket items has cratered. Total consumer debt rose by $5.2 billion in October, according to the latest data from the Federal Reserve. That was a relatively small […]
According to the latest non-farm payroll report from the Bureau of Labor Statistics (BLS) the US economy added 199,000 new jobs in November and the unemployment rate dropped to 3.7%. This was widely viewed as a “strong” jobs report. According to one mainstream analyst, the November employment data “portrays an economy that is easing toward […]
It’s not a good idea to argue about things you don’t know anything about. Most people realize this — until it comes to economics. A lot of people argue economics from a position of ignorance. President Biden is one of those people. In this episode of the Friday Gold Wrap, host Mike Maharrey dissects a […]
Gold blew through $2,100 and set a record high Sunday night. Then it rapidly sold off on Monday. But gold still held above $2,000. In his podcast, Peter Schiff put the big rally and subsequent selloff into perspective, talked about what’s next, and discussed how investors can best position themselves for subsequent moves.
Are “greedy” corporations driving inflation? Could taxing billionaires solve the federal government’s fiscal problems? According to President Joe Biden, the answer to both questions is yes. And the correct answer is no.
The flow of metal out of gold-backed ETFs slowed significantly in November, with North American ETFs charting gold inflows for the first time in five months. A total of 9 tons of gold flowed out of ETFs globally, but total assets under management increased by 2% thanks to the rise in the price of gold.
