[Age of Reason]

I totally agree with Schiff that our prosperity has increasingly been a phony prosperity.

In a healthy economy, prosperity is based upon a country creating wealth via the production goods and services.

But America for the last few decades, has instead been eating its own seed corn and spending borrowed money.

It’s obvious that you cannot eat your own seed corn forever and that there will come a time when you can borrow no more money until you pay back the money you already borrowed.

But the only thing I disagree with Schiff about, is exactly how long the people in power can keep our phony economy sputtering along.

It could be far longer than Schiff has been saying.

Or even sooner.

[Ken H]

It's obvious that you cannot eat your own seed corn forever and that there will come a time when you can borrow no more money until you pay back the money you already borrowed.

Yes.

It could be far longer than Schiff has been saying. Or even sooner.

I lean toward a time frame of months, rather than years before it tanks for real. We've consumed an awful lot of seed corn since 2008.