Get the latest headlines, market analysis, and original content from SchiffGold.
To hear President Joe Biden tell it, the US economy is booming. Meanwhile, the Biden administration is running monthly budget deficits that you would normally see during a deep recession. With two months left to go, the deficit for fiscal 2023 now stands at $1.61 trillion, after the federal government charted another massive shortfall in […]
The Consumer Price Index (CPI) data for July came out last week. Even though the headline number ticked up slightly compared to June, most mainstream analysts took it as a sign that the Federal Reserve made more progress in its inflation fight. In fact, most mainstream pundits seem convinced that the Fed is on the […]
Credit cards are great until the bill comes due. And the US economy has about maxed out the plastic. The Federal Reserve incentivized borrowing and the economy is buried under trillions of dollars in debt. As Friday Gold Wrap host Mike Maharrey explains in this episode, the bill is about to come due. He also […]
The annual increase in the Consumer Price Index (CPI) ticked up in July, after two months of big drops, revealing that price inflation might be down, but it certainly isn’t out. On an annual basis, CPI rose 3.2% in July, a tick higher than the 3% yearly increase in June, according to the latest data […]
After three straight months of net sales, central banks globally became net buyers of gold again in June. On net, central banks bought 55 tons of gold in June as the Central Bank of Turkey switched from selling back to buying, according to the most recent data compiled by the World Gold Council.
With much stronger-than-expected second-quarter GDP growth and continued labor market strength, a growing number of people in the mainstream now think the US has escaped the clutches of a recession despite the Fed driving interest rates to the highest level in 16 years. But there are plenty of signs that a recession is looming. For instance, a […]
After the Federal Reserve incentivized borrowing with more than a decade of artificially low interest rates and easy money, the debt chickens are coming home to roost. Last week, Fitch Ratings downgraded the US’s long-term credit rating from AAA to AA+, and on Monday, Moody’s cut the credit rating of 10 small and midsize banks.
Australia has become the front line in the war on cash with an aggressive effort to ring physical money out of the economy. Over the last financial year, more than a billion dollars worth of physical cash disappeared from circulation, according to data released by the Reserve Bank of Australia (RBA). The Australian news service […]
Flashing another recession warning sign, credit card spending suddenly fell off a cliff in June. American consumers have been using credit cards to make ends meet for months, but with credit card debt at record levels, rising interest rates appear to have slammed the door on spending. Credit card debt contracted in June for the […]
The Federal Reserve advertises itself as “independent” and above the political fray. We all know this isn’t true. The Fed is inherently political and makes decisions based on political calculations as much as economic data.
