If you look at the increase in contingency liabilities in just the past year with government pensions, social security and mortgage obligations, the true amount of the increase in the debt is not $1.4 trillion, rather $5 trillion. And remember, that’s only from government pensions, social security and mortgage obligations, not any of the other unfunded obligations. - in Advisor One
Related: ProShares UltraShort 20+ Year Treasuries ETF (TBT), iShares Barclays 20+ Yr Treasury Bond ETF (TLT)
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.