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POSTED ON August 5, 2022  - POSTED IN Friday Gold Wrap

Jobs are on everybody’s mind as the July employment report comes out. Will the labor market show more cracks? Or will it give the pundits more room to spin the idea that we’re not really in a recession? In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the labor market and breaks the July jobs data news as it comes out. He also talks about the “health” of the American consumer and gold’s flirtation with $1,800 an ounce.

POSTED ON August 3, 2022  - POSTED IN Original Analysis

After the second straight negative GDP print in Q2, the markets began anticipating that the Federal Reserve would pivot away from its monetary tightening. But a few choice words from some Fed members this week caused thoughts of a pivot to pivot. As Peter Schiff put it in his podcast, it appears to be damn the recession! Full ahead with rate hikes. The question is how long can the Fed keep this up?

POSTED ON August 3, 2022  - POSTED IN Key Gold Headlines

Despite back-to-back contractions in GDP, President Joe Biden, Fed Chair Jerome Powell, Treasury Secretary Janet Yellen and all of their supporters in the corporate media insist the US economy isn’t in a recession. But the only data they ever point to in order to back up their assertion is the “strong” labor market.

The problem with this spin is the labor market is a lagging indicator and it’s starting to show cracks.

POSTED ON August 2, 2022  - POSTED IN Interviews

GDP fell 0.9% in the second quarter. This followed on the heels of a -1.6 GDP print in Q1. Back-to-back contractions in GDP have historically been defined as a recession, but the Biden administration and their apologists insist we aren’t in a recession. Peter Schiff appeared on the Megyn Kelly show to talk about the White House recession spin. He said this recession is just getting started.

POSTED ON July 29, 2022  - POSTED IN Friday Gold Wrap

This week, the Federal Reserve raised interest rates another 75 basis points despite a second straight quarter of negative GDP growth. Meanwhile, Congress is debating a big government spending bill to “reduce inflation.” In this week’s Friday Gold Wrap podcast, host Mike Maharrey tries to unspin all of the spin and government propaganda to make some sense of what’s going on.

POSTED ON July 28, 2022  - POSTED IN Interviews

Rapidly rising prices put the squeeze on everybody’s wallets. A recent study showed that inflation is hitting rural Americans particularly hard. According to the Iowa State University report, people in rural areas now spend 91% of their income on expenses alone. Peter Schiff recently appeared on Rob Schmitt Tonight to talk about the pain of the inflation tax.

POSTED ON July 28, 2022  - POSTED IN Original Analysis

The Federal Reserve delivered another 75 basis point interest rate hike at its July FOMC meeting. This pushes the federal funds rate over the 2% threshold to between 2.25% and 2.5%.

The mainstream media emphasized the size of the hike. One headline called it “a second super-sized hike,” with many other mainstream pundits noting that it matched a June hike was the biggest since 1994. But it wasn’t as big as the full 1% hike everybody thought was on the table after we got June’s flaming hot Consumer Price Index (CPI) data.

Here’s the question: has the Fed reached the end of its rope? Will this be the last hike in this cycle?

POSTED ON July 27, 2022  - POSTED IN Interviews

The economic data indicates that the US economy is already in a recession. The Biden administration wants you to think otherwise, and the White House has come up with an interesting way to deny the recession reality. Just change the definition of a recession.

Peter Schiff appeared on the Ingraham Angle with Lauren Ingraham to talk about this White House spin.

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