Peter Schiff: Bonds Are The Mother Of All Bubbles And Losses Will Dwarf The Stock And Property Bubbles Combined
Vincent Fernando, CFA
Aug. 24, 2010
Peter Schiff, famous for issuing warnings ahead of the recent U.S. property crash, doesn’t have kind words for the recent U.S. treasury rally.
“The bond market is the mother of all bubbles right now and I think when it bursts the losses will dwarf the combined losses of the stock market bubble and the real estate bubble. The problem is that there is no way for the government to pay things back, the only way they could do that would be tax increases which are horrendous and would never be accomplished…”
“This decade will be the worst decade for bonds in US history…”
See the full video below, we believe Marc Faber also makes a valid point when he highlights that the U.S. treasury market has already experienced a 19-year bull market.