Japan is in the midst of a slow-motion train wreck. The country has a massive national debt and it is starting to feel the pressure of rising interest rates. In his podcast, Peter Schiff talked about the situation in Japan and pointed out some disturbing parallels to what’s happening in the US.
The mainstream remains optimistic about the trajectory of the economy. Price inflation has supposedly been beaten down. GDP growth was even better than expected, and most economists have tabled their recession predictions. But in his podcast, Peter Schiff explained that it’s all an illusion. The financial crisis has already started, and it continues to play out beneath the radar.
Nobody understands that this crisis has started. But believe me, it has. This was the way the 2008 financial crisis started. It didn’t just happen when Lehman Brothers went bankrupt.”
When it comes to economic data, context matters. In this episode of the Friday Gold Wrap, host Mike Maharrey explains how the Fed, many mainstream economists, and financial network talking heads get a lot wrong because of bad data, shoddy economic frameworks, and ignorance of history. Along the way, he covers the GDP and the latest price action for gold.
Will the Federal Reserve raise interest rates again? Or is this hiking cycle over? Will it really hold rates higher longer, or will it cut in the near future? Everybody in the financial world is trying to predict the central bank’s next move.
Fed members insist they are data-dependent and will go where the numbers lead them. But in an interview on CNBC, financial analyst Jim Grant said data alone isn’t enough. You need to put the data into context.
Last week, Federal Reserve Chairman Jerome Powell delivered a speech at the Economic Club of New York luncheon. In his podcast, Peter Schiff broke down some of the Fed chair’s comments and concluded that Powell is not qualified to be a member of any economic club.
The economy is strong. The American consumer is resilient. Everything is great. At least that’s the mainstream narrative. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains why it’s all just an illusion of prosperity. Along the way, he covers the September retail sales data, Federal Reserve Chairman Jerome Powell’s speech this week, and the recent gold rally.
Problems in the commercial real estate (CRE) sector continue to bubble under the surface. This is a major stress point for US banks and could precipitate the next phase of the financial crisis.
A combination of high interest rates and declining tenancy is putting the squeeze on commercial real estate owners. As a result, banks hold a growing portfolio of delinquent CRE loans.
There is a persistent myth that inflation was “low” in the decade following the 2008 financial crisis.
It’s time to bust that myth.
After the CPI data came out last week, gold rallied. On his podcast, Peter Schiff talked about the rally and the trajectory of gold. He said we can expect even bigger moves up when the markets figure out the inflation problem isn’t solved.
The CPI has cooled in recent months, but Americans say they’re still struggling with rising prices and they’re worried about inflation. Why is there this dichotomy between people’s perceptions and the official data?
Peter Schiff recently appeared on Real America with Dan Ball to talk about the economy. He said the problem is the government isn’t being honest about inflation.
