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Michael Pento’s Market Commentary The artificially engineered U.S. recovery is already starting to falter as a continuous procession of disappointing data continues to confirm the sad truth. Recent numbers on GDP, durable goods, housing, regional manufacturing, initial unemployment claims and leading economic indicators all indicate a sharp slowdown in GDP growth. Just today the ADP […]
Michael Pento’s Market Commentary Based on many pronouncements by economic policy makers, reams of articles by the top financial journalists and near continuous discussion on the financial news channels, it appears that the quantitative easing juggernaut that has steamed the high seas of macroeconomics for the last three years is finally pulling into port…supposedly for […]
By Peter Schiff Today the U.S. government officially borrowed beyond its $14.29 trillion statutory debt limit. And even though the Obama administration has assured us that accounting gimmickry will allow the government to borrow for another few months, the breach has given seeming urgency to Congressional negotiations to raise the debt ceiling. Republicans are making […]
By Peter Schiff I have worked on Wall Street my entire life, and one thing I’ve learned is that large institutional investors, like pension funds and endowments, rarely veer from the herd. They manage too much of other people’s money to stick their necks out alone – if their investments go bad, at least they […]
The following article was written by Mary Anne and Pamela Aden for the May 2011 edition of Peter Schiff’s Gold Letter. To hear Fed chairman Ben Bernanke tell it in his press conference this past month, the US stock market is in the beginning stages of a moderately paced recovery. Many on Wall Street are […]
Gold Breaks $1,500 An Ounce New York Times – The price of gold broke through the psychologically significant $1,500 an ounce barrier on Wednesday, April 20th for the first time. Global inflation and sovereign debt concerns, geopolitical unrest in the Middle East, and mounting Asian demand combined to drive the precious metal to a new […]
Michael Pento’s Market Commentary In the same vein as medieval physicians believed bloodletting would cure illness, modern snake-oil economists still perilously cling to their claim that rising wages and salaries are the cause of inflation. With my recent debates with these mainstream economists, I’ve heard the following: “without rising wages, where does the money come […]
By Peter Schiff The only thing more ridiculous than S&P’s too little too late semi-downgrade of U.S. sovereign debt was the market’s severe reaction to the announcement. Has S&P really added anything to the debate that wasn’t already widely known? In any event, S&P’s statement amounts to a wakeup call to anyone who has somehow […]
Michael Pento’s Market Commentary For years the Federal Reserve has told us that in order to detect inflation in the economy it is important to separate “signal from noise” by focusing on “core” inflation statistics, which exclude changes in food and energy prices. Because food and energy figure so prominently into consumer spending, this maneuver […]
By Peter Schiff While gold and silver coins are nice to look at, and there’s a certain sense of independence one gets from owning them, most purchasers buy physical precious metals with the goal of eventually spending them. As they say, you can’t take it with you. Unfortunately, many purchasers buy without ever knowing how […]
