Last week, Peter was interviewed on Speak Up with Anthony Scaramucci. In their conversation, they covered a wide range of important topics, including inflation, the fate of the dollar, and the trade-offs between gold and cryptocurrency.
JD and Joel discuss hotter-than-expected inflation data, Peter’s recent podcast, TikTok, Twitter, and gold and silver price action.
With President Biden’s Saving on a Valuable Education (SAVE) plan set to extend more student loan relief to borrowers this summer, the federal government is pretending it can wave a magic wand to make debts disappear. But the truth of student debt “relief” is that they’re simply shifting the burden to everyone else, robbing Peter to pay Paul and funneling more steam into an inflation pressure cooker that’s already set to burst.
Rampant government spending continues to mask fundamental weaknesses in the US economy. Recently, national debt grew much faster than the economy for the third quarter in a row, just one of many warning signs concerning legendary investors. Our guest commentator explains just how much the government is spending to make the economy seem strong, even as the US remains in the midst of a “private sector recession.
With a stunning trillion dollars added to the national debt in only three months, projected to reach an incomprehensible $54 trillion within 10 years, and America’s interest payments on track to exceed defense spending next year, the question must be asked: How much longer can the debt bubble go?
Can America hope to climb past its mountain of $34 trillion of federal debt? With the staggering weight of unfunded liabilities in vital entitlement programs like Social Security and Medicare reaching $212 trillion, any strategy for repayment is met with formidable obstacles. Our guest contributor arrives at a sobering verdict: the magnitude of the debt renders the prospect of repayment virtually impossible.
The US can still take decisive action to rein in spending and prevent further exacerbation of its dire financial predicament.
Federal Budget
The Federal Government publishes the spending and revenue numbers every month. The charts and tables below give an in-depth review of the Federal Budget, showing where the money is coming from, where it is going, and the surplus or deficit.
This month saw a $22B deficit.
Recent data have many cheerful about the economy. But according to Peter in his latest podcast, the economy may already be in recession. Here are some of Peter’s biggest causes for concern:
The Federal Reserve recently surrendered in its inflation fight. But price inflation is nowhere near the 2% target. Why did the Fed raise the white flag prematurely?
One of the major reasons is debt.
The world is buried under record debt levels and the global economy can’t function in a high interest rate environment.
Two weeks ago, Federal Reserve Chairman Jerome Powell said it would be “premature” to conclude that monetary policy is sufficiently restrictive. This week, the Fed indicated rate cuts are on tap for next year. What a difference two weeks makes! In this episode of the Friday Gold Wrap, host Mike Maharrey breaks down this week’s Fed meeting and the status of the inflation fight.
