Peter's Blog

How Government Spending Messes Up the Economy

Virtually everybody agrees that government spending is necessary to support the economy and society in general. We may debate vigorously about what exactly the government should spend money on, but few people will entertain the thought that maybe the government shouldn’t spend money at all. Most fail to even acknowledge that even the best government […]

Peter Schiff: Here’s Why Inflation Is Going to Get Worse

The January CPI report threw cold water on the idea that the Federal Reserve has inflation under control. While the headline annual CPI came down a tick to 6.4%, month-on-month prices rose by 0.5%. After the data came out, Peter Schiff appeared on NTD News to explain why inflation is going to get even worse.

Total Household Debt Charts Biggest Rise in 20 Years

After charting its biggest increase since 2007 in the third quarter, household debt surged again in Q4 as Americans try to borrow their way out of the squeeze soaring price inflation has put on their wallets. Total household debt rose by $394 billion in the last quarter of 2022, according to the latest New York […]

Peter Schiff: The Fed Brought a Knife to an Inflation Gun Fight

Despite the hotter-than-expected CPI report, the mainstream still seems convinced that the Federal Reserve can get inflation under control and bring the economy to a soft landing. But Peter Schiff argues that the central bank can’t win this fight – at least not without crashing the economy. Since the Fed isn’t willing to do that, […]

Garbage In, Garbage Out: SchiffGold Friday Gold Wrap Feb. 17, 2023

Garbage in, garbage out. The phrase is usually associated with computers, but it also applies to the formulas used to generate government economic data. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey goes over the January CPI and retail sales data with that phrase in mind.

The Dark Side of January’s Big Retail Sales Print

Retail sales came in much stronger than expected in January after declining the previous two months. Mainstream financial media pundits immediately declared that this “jump in consumer spending” was a good sign for the economy. The Wall Street Journal called the robust sales report “evidence that US economic growth picked up at the start of […]

“Supercore” Inflation: The Latest Buzzword to Remind You Everything Is Fine

There is apparently a new economic buzzword out there – supercore inflation. CNN says this is a buzzword we all need to pay attention to. Why?

History Rhymes: SchiffGold Friday Gold Wrap Feb. 10, 2023

You’ve probably heard the saying that history might not repeat, but it often rhymes. If that’s true, looking back at the runup to the 2008 financial crisis and Great Recession should cause concern. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks at some of the parallels between then and now. […]

Why You Should Take the Latest Jobs Report With a Grain of Salt

If you have any skepticism of government narratives at all, you have to question last week’s non-farm payroll report from the Bureau of Labor Statistics. Given the number of layoffs and the general slowing of the economy, the notion that 517,000 jobs were created in January just doesn’t make sense. Turns out that your skepticism […]

Consumer Debt Increase Slows in December But Americans Still Relying on Credit Cards

Consumer debt grew at a slower pace in December, but Americans continued to rely heavily on credit cards to keep up with high price inflation.