Schiff confirmed what I have been telling students in a class of mine. We are reading Brink Lindsey’s “Age of Abundance.” I give them a three point strategy on solving the economy and many of the world’s problems:

1) Buy only what you have cash to afford.
2) Save and invest money and defer gratification.
3) Volunteer your service and skills to help the less fortunate in our society.

Schiff’s blast of the notion of credit was right on. He made me a fan right off.