Producer prices just annualized to 17%. Banks sit on $2 trillion in mortgage losses. Peter Schiff explains why 2008 and 2021 are both hitting at once.
📢 Please Support Our Sponsors:
- Ethos. Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/gold. Application times may vary. Rates may vary.
- Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee.
Producer prices just annualized to 17%, and banks are sitting on $2 trillion in mortgage losses before a single default.
Peter Schiff says the data looks like late 2020 and early 2021 all over again. September PPI rose 1.3% in one month, core PPI annualizes to 9%, import prices are up 8.1% year over year and export prices 11.6%. These are the leading indicators of consumer prices, and the CPI is already up 4% in the first nine months of 2026. Peter forecasts CPI above 7% in 2027, worse than any year under Biden, while Fed Chair Kevin Warsh has delivered a single 25 basis point hike.
Housing looks like 2007. Pending home sales just hit the lowest level in the index's history, builder confidence is the weakest since 2012, and new homes now sell for less than existing ones. Lenders hold $8.5 trillion in fixed-rate mortgages at an average 4.6% coupon, about $2 trillion underwater, four times the realized losses of the 2008 crisis. Peter explains why the Fed cannot bail out housing with QE while inflation is this hot, why Fannie and Freddie will need another bailout, and why the dollar sits at the center of what comes next.
Chapters:
00:00 Inflation and Housing Collide
02:42 Fed Averaging Target Nonsense
05:45 COVID Stimulus Fueled Inflation
09:36 PPP Fraud and Fed Balance Sheet
14:31 Transitory to Political Fallout
18:08 2026 CPI Surge and Weak Growth
22:42 Polls Turn on Trump Economy
26:17 Energy Shock and PPI Warning
29:30 Fed Behind Inflation
32:05 Import Export Price Shock
34:27 Gold Silver Mispricing
35:00 Housing Crash Parallels
39:07 Builders Slash Prices
42:32 Affordability Math Breaks
43:53 Banks Mortgage Loss Trap
51:05 Defaults And Bailouts Ahead
54:18 Fed Cornered By Inflation
56:54 Protect Wealth And Diversify
58:19 Politics Deficits And Dollar
01:00:22 Closing And Subscribe
Follow @peterschiff
X: https://twitter.com/peterschiff
Instagram: https://instagram.com/peterschiff
TikTok: https://tiktok.com/@peterschiffofficial
Facebook: https://facebook.com/peterschiff
Free Reports & Market Updates: https://www.europac.com
Book Store: https://schiffradio.com/books
Sign up for Peter's most valuable insights at https://schiffsovereign.com
Schiff Gold News: https://www.schiffgold.com/news
Our Sponsors:
* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com
* Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai
Privacy & Opt-Out: https://redcircle.com/privacy
