Welcome to the Eric Erickson Show podcast, Hour 3.

Welcome. Hello there. It is Eric Erickson here. It is my show, and I'm delighted to have you with me.

The phone number is 877-9-737-9-37-4-25. Should you wish to be a part of this year program, I got to play you a clip of Stanley Drucken Miller. Stanley Drucken Miller.

Stanley Drucken Miller is a highly, highly regarded investor.

He's someone who, when he speaks, the entire world of investing, listens to him.

He is a billionaire.

He made it big as a hedge fund manager for 30 years.

He worked until 2000 for George Soros.

He shut down his hedge fund and returned the funds to his clients.

It was $12 billion in August of 2010.

He is number 143 on the Forbes 400 list.

He's a self-made man.

And when he speaks about the economy, people listen.

And he was interviewed on CNBC earlier, and what he said is, well, generating a lot of shockwaves for a lot of people out there.

There was a time you went to college campuses and you talked about

an equity and debt. I think in this case it wasn't necessarily fed induced, but it was

entitlement induced. And it could come, this was 10 years ago, and I think you said

sometime between, you know, Mrostradamus, you said 2020 and

2035. So it's 2000, is it 2022? Is it happening?

We are in deep trouble. So everything I said at those colleges is worse in terms of the metrics, except for one thing.

And what I miscalculated was I didn't calculate zero rates, I used 4% rates.

But the only thing Donald Trump and Hillary Clinton agreed on in 2016 was don't cut Social Security, don't cut entitlements. So nothing was done. Joe Biden has

...