Chief Economist & Global Strategist https://xitter.cf/t.co/X35usGhhgW, Chairman https://xitter.cf/t.co/ulhU3vptUb, Founder https://xitter.cf/t.co/zB1vZlRBGh, Host https://xitter.cf/t.co/XazFnrIREg, Best-selling Author
Joined July 2009
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The Fed's inflation target is 2% a year. Export prices just rose 2.2% in one month. That annualizes to 30%. Producer prices rose 1.3%, a 17% annual rate. Oil just hit a five-month high of $110. If you think the cost of living crisis is bad now... just wait
youtu.be/weQTaAfDcXU?utm_sou…
2008 and 2021 Are Hitting at the Same Time... The Inflation Bomb Is Lit
youtube.com/watch?v=weQTaAfD…
Peter Schiff retweeted
Peter Schiff warns that America's debt trap is closing. As Treasury yields rise and the Fed runs out of options, he sees hyperinflation or default ahead. He also explains why gold, not another fiat currency, could replace the dollar as the world's reserve asset.
schiffgold.com/interviews/sc…
Larry Kudlow just said there is no question that the U.S. economy is booming. Given that GDP growth during Trump's first two years is lower than during Biden's last two years, but with higher inflation, based on what evidence does Kudlow conclude the economy is booming?
Peter Schiff retweeted
Peter Schiff warns that America's debt spiral is accelerating. With interest payments potentially reaching $4 trillion annually, the Fed faces a choice between a sovereign debt crisis and massive inflation. Meanwhile, housing and banks face growing pressure.
schiffgold.com/commentaries/…
Earlier this year the odds of Vivek Ramaswamy becoming Ohio's next governor were over 85%. But given his association with the disastrous Trump economy, the odds have now collapsed to just 26%. Ohio hasn't had a Democratic governor in 16 years, and Trump won the state three times.
Homeowners, how long do you think your home's value holds up against rising mortgage rates? Buyers can't pay more. They can't get approved. The only way homes sell is at lower prices... and the minute that happens, everybody's equity is gone.
The housing agencies are collapsing in real time, and the price cuts come next. Watch the full episode here.
youtu.be/tWczSy6qDyw?utm_sou…
Peter Schiff retweeted
Can America ever repay its national debt? Peter Schiff argues the US faces two choices: default outright or inflate the debt away. He also examines China's retreat from Treasuries, America's trade deficit, and Bitcoin's vulnerability.
schiffgold.com/interviews/sc…
The Pending Home Sales Index tanked 7.3% in Sept., the biggest drop since Dec. 2025. Worse, the index fell to 66, the lowest level ever recorded, dating back to 2001. That means it's already lower than the lowest level hit during any year affected by the 2008 financial crisis.
Just like in early 2008, most are oblivious to the obvious signs of a real estate crash. Only this time the losses for lenders will be bigger, as not only will they lose hundreds of billions on the mortgages that default, but they've already lost trillions on the ones that don't.
Peter Schiff retweeted
🚨🇺🇸 U.S. STRATEGIC OIL RESERVE AT LOWEST LEVEL SINCE 1982
America’s emergency crude inventories reportedly DROPPED to 282.7 MILLION BARRELS, the lowest since Oct. 1982.
The decline comes as the White House moves ahead with a 172-MILLION-BARREL-RELEASE to help offset oil market disruptions linked to the Iran war.
Private oil companies borrowing crude from the reserve are required to return it to the DoE with additional barrels as a premium.
If the emergency tank IS drained before it can be replenished, America is SCREWED if another crisis hits.
Source: Reuters, U.S. Energy Info. Admin., DoE / Writer: Marie
September housing starts unexpectedly fell 5.2% versus expectations of a 1.3% rise. The real surprises are that anyone expected a rise and that the decline wasn't even larger. Starts will soon collapse as rising construction costs and mortgage rates make new homes unaffordable.
Oil is $110, up another 6% this morning. We are still early in a major breakout in the price of oil that will substantially raise the cost of living. Plus, it's not just energy. The price of all everyday necessities is about to soar. This is a tax hike to cover deficit spending.
Under capitalism, when private employers create jobs, workers' paychecks have value because there are plenty of goods and services to buy. But under socialism, when government creates jobs, paychecks are of little value, as there are very few goods or services available to buy.
Peter Schiff retweeted
44% Of Americans Have Trouble Paying For Basic Necessities As Lifetime Cost Of The American Dream Tops $5 Million zerohedge.com/personal-finan…
Peter Schiff retweeted
Homebuyers are canceling sales at near-record rates finance.yahoo.com/real-estat…
