Peter’s Blog

Retail sales unexpectedly dropped in May, casting doubt on Federal Reserve Chairman Jerome Powell’s “the American consumer is healthy” narrative.

Federal Reserve Chairman Jerome Powell insists the central bank can fight inflation because the economy is strong. President Joe Biden keeps telling us the economy is strong. The talking heads on CNBC insist the underlying economy is strong. In a recent podcast, Peter Schiff talked about the economy. As it turns out, it’s not so […]

Retail sales have spiked over the last few months. You would think that would be great news for retailers, right? Not so fast.

There is a lot of spin out there when it comes to economic news. You get spin from the corporate media, You get spin from government officials. And you get spin from central bankers. In this episode of the Friday Gold Wrap, host Mike Maharrey spins the spin, breaking down the media take on the […]

American consumers are in a sour mood, but they haven’t stopped spending money. The problem is they’re spending money they don’t have. And they’re getting less for it.

American consumers are spending more, getting less, and borrowing more to fund this involuntary spending spree. Retail sales in March were 7% higher than they were in the stimulus-fueled March of 2021, but thanks to inflation, they didn’t get as much bang for their buck.

Retail sales have gone up to start the year as Americans keep spending. But what are they buying? Inflation. American consumers are spending hand-over-fist in an effort to keep up with surging prices.

In October, retail sales surged much higher than expected, rising 1.7%. The mainstream gushed over retail spending, asserting that it was a sign that the economy is booming. At the time, I argued that it wasn’t necessarily good news. Well, the news just got even worse. Retail sales in November disappointed, despite another big surge […]

It appears American consumers are going to have a red Christmas this year. Red — as in going deeper into debt.

The retail sales numbers for October came in even better than expected. The mainstream reported this as fantastic news — proof that the economy is booming. Meanwhile, Janet Yellen went on national TV and put a new spin on the transitory inflation narrative. In this week’s Friday Gold Wrap, host Mike Maharrey explains why you […]