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Last week, Keynesian extraordinaire Paul Krugman called for more fiscal stimulus in the form of a “government investment program.” Mike Maharrey poked fun of him in his Fun on Friday column. But while it might be amusing to crack jokes at the expense of Keynsians and their obsession with both fiscal and monetary stimulus, the […]
The Commerce Department released the first estimate of Q1 GDP growth on Friday. It came in higher than expected at 3.2%. Somewhat surprisingly, the price of gold rose on the news and the dollar showed some weakness. The primary reason was presumably lower inflation. This means the Fed still has the excuse it needs to […]
Peter Schiff has been saying that despite the recent stock market rally and all of the optimism about an end to the trade war, a recession is a done deal. There is plenty of economic data to back up despite the recent economic growth. In his most recent podcast, Peter Schiff said that while the […]
As we reported last week, China is dumping US debt. China’s holdings of US Treasuries fell for the third consecutive month in August. The Chinese shed another $6 billion in US debt, dropping its total holdings to $1.165 trillion. Over the last year, China’s holdings of Treasury bonds fell by $37 billion year-on-year. But China has […]
In fiscal 2018, the national debt expanded by more than $1 trillion. According to data released by the Treasury Department, it was the sixth-largest fiscal-year debt increase in the history of the United States. A combination of increased spending along with shrinking revenues continues to expand the federal deficit and balloon the national debt. GOP apologists insist […]
The second quarter GDP number released Friday came in at 4.1%. It represents the fastest rate of growth since 2014. President Trump called the number “amazing,” bragging that, “We’ve accomplished an economic turnaround of historic proportions.” Peter Schiff wasn’t quite as impressed. In his latest podcast, he said this “peak GDP” is an aberration and it’s setting […]
We’ve done extensive reporting on the GOP tax reform bill as it’s moved through Congress. We’ve highlighted a number of concerns about the plan, specifically the significant expansion of the national debt it will cause. Yesterday, we explained how the impact on the deficit will likely be even bigger than expected because of the incentives […]
During a recent interview with Investing News Network, Peter Schiff reiterated something he’s been saying for the last several months. The stock market is still a big, fat, ugly bubble, and misplaced optimism continues to blow it up. [Pres Trump has] accomplished blowing more air into a stock market bubble that already existed before he […]
Last week, we asked an important question about Trump’s tax reform plan: Can it deliver? Despite rampant optimism about tax reform, there are a number of problems. In the first place, it remains uncertain whether or not Congress can even get anything done. Second, as Peter Schiff pointed out, the plan as presented won’t likely create the […]
When Pres. Trump signed a bill raising the debt ceiling limit for the next three months, it instantly added approximately $318 billion to the national debt, raising it to $20.16 trillion. And Trump wants to do away with the debt ceiling altogether. It’s hard to even conceptualize $20 trillion. What does that mean to the average person? Just […]
