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Joe Biden says the economy is great. Paul Krugman says the inflation war is over and we won. But Americans aren’t buying the narrative. They’re growing increasingly worried about the economy and inflation. The University of Michigan Index of Consumer Sentiment tanked in October with inflation worries at the highest level since last May.
Great news! The inflation war is over and we won! At least that’s how Paul Krugman sees it. But he’s playing tricks with the data and making assumptions that are meaningless in the real world. In this episode of the Friday Gold Wrap, host Mike Maharrey dissects Krugman’s claims in light of the September CPI […]
“Hotter than expected.” This seems to be a recurring theme when it comes to price inflation. The September CPI data gave us another variation on that tune. And it should once again remind us that the Federal Reserve is nowhere near its 2% target.
An important error in statistical analysis is that mathematical economists have lost sight of what their beloved statistics represent —none more so than with GDP. In this analysis, I explain why GDP is simply the total of accumulating currency and credit which is wrongly taken to reflect economic progress — there being no such thing […]
After the August CPI data came out, Paul Krugman declared that the inflation war was over. The Biden administration and the Fed won the fight. In his podcast, Peter Schiff said he actually agrees with Krugman, at least in part. The inflation war is over. But who really won?
The United Auto Workers went on strike against the Big Three US automakers in Detroit last week. Peter Schiff went on Real America with Dan Ball to talk about the strike and how it might impact the US economy. Peter put the strike in the context of the current inflationary and high interest rate environment, […]
After the August CPI report showed price inflation heating up again thanks to rising gasoline prices, Peter Schiff appeared with Jesse Kelly on First TV to answer the question: where are we heading? Peter said this story is going to have a tragic ending.
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 […]
About that disinflation… It was transitory. As we predicted, a jump in gasoline prices helped drive the August Consumer Price Index (CPI) higher, throwing cold water on the disinflation narrative.
Gold and silver prices fell this week in light trade, with US markets closed on Monday for Labor Day. In European trade this morning, gold was at $1925, down $15 from last Friday’s close, and silver was at $23.05, down $1.10.
