Peter’s Blog

Economics 101 – incentives matter. But politicians often seem to forget this. Or simply ignore it. “Generous” unemployment benefits provide the perfect example. With the US government handing out enhanced unemployment checks, we ended up in a bizarre situation with high unemployment even as job openings hit record levels.

Mainstream pundits sometimes accuse Peter Schiff of being a “stopped clock.” They admit he’s right occasionally, but only by virtue of sticking to the same narrative, talking about the malinvestments and misallocations in the economy and warning about an impending crisis. In this clip from his podcast, Peter said it’s the mainstream regulars on financial […]

Earlier this week, a federal court threw out an antitrust case against Facebook. The lawsuit filed by the Federal Trade Commission, along with 48 state governors, sought to force Facebook to divest itself of WhatsApp and Instagram, but the court said the FTC failed to prove that Facebook holds monopoly power. In his podcast, Peter […]

A guy made a comment about my article highlighting Chipotle’s recent decision to raise menu prices in order to cover some of the cost of higher wages, pointing out that the CEO made some $38 million last year, noting “I doubt he needs it.” The first thought that popped into my head was, ‘how exactly […]

We have been saying that given the extraordinary level of money printing the Fed has done since the beginning of the pandemic, a wave of price inflation is coming down the pike – perhaps even hyperinflation. But many will be quick to remind us that we raised the warning flag about inflation when the Fed […]

There’s an economic myth out there. As the story goes, governments can print their way to prosperity. Just run the money printing press, hand out cash for consumers to spend and the economy will hum. In this clip from a podcast episode, Peter Schiff calls it “The Kelton Myth” named for economist Stephanie Kelton. At […]

The federal minimum wage hike didn’t make its way into the coronavirus stimulus bill passed by the Senate last week, but it is an idea that won’t die. With Biden in the White House and Democrats controlling both houses of Congress, the issue will almost certainly come up again sooner rather than later. Proponents of […]

The Federal Reserve has created trillions of dollars out of thin air and injected it into the economy over the last year. As a result, the money supply has grown at a record pace. This is by definition inflation. As Peter Schiff has pointed out in recent weeks, signs that this inflation is finding its […]

Talk of hiking the minimum wage at the national level has ramped up in recent weeks. With the Democrats controlling the House and the Senate, and Joe Biden in the White House, it seems increasingly likely that we’ll soon see a federal $15 per hour minimum. In other words, it may soon be illegal to […]

The government response to the coronavirus pandemic has put extraordinary pressure on small businesses. And that pressure is about to increase thanks to yet another government action – minimum wage increases across the US.