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Despite all kinds of economic bad news, as of Friday, the Dow Jones was on pace for the best October in history. As Peter Schiff explained in his podcast, this demonstrates the fact that for now, bad news is good news, and stocks are priced for perfection in an imperfect world.
A lot of people seem to think that if the Fed had just started fighting inflation a little earlier, we wouldn’t have seen the rapidly rising prices that continue today. The mistake, they say, was thinking inflation was transitory. But as Peter Schiff has pointed out, this problem didn’t start last year, or even with […]
The third quarter GDP data came out this week and it looks like the recession is over. (If there ever was one.) But in this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the data and says, “Not so fast!” He also talks about a mainstream economist who sounds a lot […]
Air continues to seep out of the housing bubble blown up with the Fed’s artificially low interest rates in the wake of the pandemic. Sales of previously owned homes fell by 1.5% in September, according to a National Association of Realtors report. It was the eighth straight month of declining home sales.
The US government ran a $1.38 trillion budget deficit in fiscal 2022 despite government receipts at near-record levels. This further highlights the federal government’s out-of-control spending problem. It’s also a big problem for the Fed as it tries to fight inflation.
Federal Reserve Chairman Jerome Powell knew fighting inflation would cause big problems in a bubble economy loaded up with debt. He put it off as long as he could, calling inflation “transitory.” But once inflation became a huge problem, the central bank had no choice but to get into the fight and start tightening monetary […]
Is now the time to buy gold? Or should we be bearish on the precious metal? Peter Schiff debated TD Securities Global Head of Commodity Markets Strategy Bart Melek on the future of gold prices on CNBC Asia.
Last week, the Bank of England suddenly pivoted. It gave up its inflation fight to rescue its pension funds and bond market. What exactly happened? And what does it tell us about the Federal Reserve’s inflation fight? Peter Schiff explained it all on his podcast.
The September Federal Reserve meeting wrapped up this week with another 75 basis point rate hike. And Fed Chairman Jerome Powell admitted that there is going to be some pain as the central bank continues to fight inflation. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey reacts to the meeting and […]
During his post- FOMC meeting press conference, Federal Reserve Chairman Jerome Powell said, “Hope for the best; plan for the worst.” I think he meant, “Live in hope; die in despair.”
