The Next Financial Crisis In Plain Sight: S&P 500 Debt Has More Than Tripled In Last 14 Years; Consumer Debt Is Approaching $4 Trillion, Up 50% Since 2008…

By David Stockman

Peter Schiff recently appeared on RT News with Rick Sanchez. Peter said both an economic and a political crisis is looming, and Americans need to get ready.

Sanchez started out the interview noting that the extreme levels of household debt. As we’ve reported US consumer debt is approaching $4 trillion. When you include mortgages in the equation, Americans are some $15 trillion in debt. But Peter said household debt is just the tip of an even more massive debt iceberg.