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The stock market continued to rally last week despite the fact that the economy remained on lockdown. Stocks made gains even after the weekly report revealing that another 6.6 million people filed for unemployment, bringing the three week total to nearly 17 million people. That’s 10% of the workforce. In what kind of world does […]
The economic lockdowns continued and another 6.6 million Americans joined the ranks of the unemployed this week. But the stock market rallied? How can this be a thing? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains what’s going on. And then he asks the burning question: what’s next? What is […]
There seems to be some optimism in the markets that the end of the coronavirus shutdown is getting closer. There is also this persistent myth that the economy will just fire back up at the snap of a finger. Peter Schiff recently appeared on RT Boom Bust along with Christy Ai to talk about the […]
A lot of people still seem to think at some point, Donald Trump will flip a switch and the government will start humming again. As Peter Schiff explained in his podcast Friday that’s not going to happen. The best we can hope for is recovering from a depression to the recession we were going to […]
As the coronavirus economic lockdown drags on, there seems to be a lot of delusional thinking out there. Many people seem to believe that at some point, President Trump will snap his fingers and the economy will roar back to life. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks at […]
All eyes have been on the stock market in recent weeks as it has reflected the fears about the coronavirus-induced economic shutdown and the hopes of massive stimulus. It’s been quite a rollercoaster ride. But in his podcast on March 27, Peter Schiff said there’s an even bigger problem looming on the horizon that people […]
On Monday, the Fed announced QE infinity and by mid-week, Congress had agreed on a $2 trillion stimulus package to battle the economic impacts of the coronavirus. That launched us into a bizarro world where a weekly record of over 3 million unemployment claims led to a huge stock market rally. As Mike Maharrey put […]
According to Owen Ullmann in an op-ed published by USA Today, there are some unsung “heroes” in the battle against the coronavirus pandemic – the brave and courageous bankers at the Federal Reserve. I think Ulmann misspelled “villains.”
March 23 was Peter Schiff’s birthday. It was also the day the Federal Reserve announced QE Infinity. So, Peter spent over three hours hosting a live videocast talking about the latest Fed moves, the potential impact on the economy and answering questions from viewers. Peter said he was hoping to combat the rampant economic ignorance […]
We now have QE to infinity and beyond. On March 23, the Federal Reserve announced it will purchase an “unlimited” amount of US Treasuries and mortgage-backed securities. The Washington Post called the move “unprecedented” and said that it goes “much further than what the central bank did in the 2008-2009 crisis.”
