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POSTED ON May 17, 2024  - POSTED IN Original Analysis

The US national debt is so out of control that, ironically enough, even the Federal Reserve chair has expressed concern about the problem. And while America is among the top contributors, it isn’t just the US that’s spending money it doesn’t have: after briefly declining in 2023, the global debt-to-GDP ratio is again at an all-time high.

POSTED ON March 6, 2024  - POSTED IN Original Analysis

Ron Paul’s recent op-ed from the Ron Paul Institute for Peace and Prosperity, reprinted in the Orange County Register, breaks down the profound damage caused by central bank money printing: it pits savers against speculators, encouraging consumers to use debt to fund basic needs since their savings are constantly evaporating due to monetary debasement.

POSTED ON December 11, 2023  - POSTED IN Original Analysis

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 1.2% increase.

POSTED ON November 29, 2023  - POSTED IN Key Gold Headlines

Holiday shoppers plan on cutting back on spending and piling on even more debt this year, and nearly a quarter of Americans still haven’t paid off their debt from last year’s holiday spending spree.

These were just a few revelations in a recent WalletHub survey that indicates American consumers aren’t quite as “resilient” as pundits and government people would have you believe.

POSTED ON November 10, 2023  - POSTED IN Original Analysis

Mainstream pundits and government officials keep talking about the strong economy and resilient consumers while ignoring what’s driving them – borrowing. To listen to them, you would think the road to prosperity is paved with credit cards. In this episode of the Friday Gold Wrap host Mike Maharrey breaks down the recent household debt data and explains why this isn’t the sign of a strong economy. He also highlights some interesting silver demand news.

POSTED ON November 9, 2023  - POSTED IN Key Gold Headlines

Mainstream financial network pundits and government officials keep telling us that the economy is chugging along because Americans continue to spend money. But it’s clear that borrowing is the only thing sustaining this spending spree.

Meanwhile, the “resilient” American consumer is drowning under a surging tidal wave of debt.

POSTED ON October 19, 2023  - POSTED IN Peter's Podcast

Every time retail sales come in higher than expected, the mainstream media breathlessly reports this as proof that the American consumer is strong and resilient. In his podcast, Peter Schiff explained that these retail sales numbers aren’t a sign of a strong economy. They just reflect Americans paying more for less. And what’s worse, they’re burying themselves in debt to do it.

POSTED ON September 15, 2023  - POSTED IN Friday Gold Wrap

The economy is in a slow burn. You can’t even see the flames. But you can smell whiffs of smoke every now and then if you’re paying attention. In this episode of the Friday Gold Wrap, host Mike Maharrey calls attention to that smoke with a breakdown of August’s CPI  and some other data that came out this week. He also busts a myth about silver.

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