Welcome to another edition of Checks on the Right podcast. We are here with our BFF, our financial BFF and BFF Zach from Bulwark Capital. I've been working since i was fourteen years old. Do you think I'm going to get Social Security? Because this is what irritate you.
Do you think I'm gonna get?
Yeah? I think if you're over fifty years old, do you have nothing to worry about?
Really? And it's the people under fifty that do yeah.
And here's why.
So this is the cruel reality of the way we're of the world we're in. And this is one of the things that is endlessly frustrating to me. When we're talking about debt, when we're talking about deficits, when we're talking about financing healthcare of illegal immigrants, nobody ever wants to talk about fiscal constraints, right, So, now there is a constraint there if you look at Social Security, If we looked at Social Security the way that we look at a corporation, we would say.
It's defunct and bankrupt right now totally.
And the reason we say that is it's all blaations far exceed its ability to pay right, So it's technically in default down but when we did the lock box, when we undid the quote unquote lock box, when social Security was started, these Social Security owned the Social Security payments and that was effectively what they referred to as the lock box at that time Okay, well early sixties, when they quote unquote rated the lock box, social Security
payments became a general obligation of the federal government, just like government bonds are, okay, which means that they are not They are no longer secluded to just Social Security.
So in my.
Mind, when people say social Security is bankrupt, they're right, but they're not in the sense that it's a Social Security is no more bankrupt than the federal government's right. And bankrupt by definition is the inability to pay your debts. Well, because all of our debts are denominated in US dollars, we are not bankrupt, okay, So meaning not paying Social Security is a political decision, not a financial at least right now in the current construct.
Okay.
Now, we also know that baby boomers are the largest voting block in the country. So bottom line is this, anybody that goes out, regardless of the veracity, efficacy, or whatever of their plan to save Social Security, if the saving of Social Security is a reduction or an elimination of a payment to anybody that is a baby boomer. Whoever makes that proposition will not get elected by Yeah.
It is truly the third rail in American politics.
Yeah, So what will happen is eventually, if everybody's like in nineteen or by twenty thirty two, they'll just print the money.
Guys, it's general omination.
They'll print the money. And what they will do when they finally curtail it is they will grandfather in people. Usually in the past fifty years old has been kind of the mark to make the most sense to me.
And what they will say is you under the age.
And it'll probably be done along the lines of political calculus, meaning where can we make that demarcation point where the people below it don't really care because it's so far away. Oh my, And that's that's probably how the decision will get made. But my whole thing is, I'm forty three. I will doubt that I.
Will end up getting a single payment of Social Security.
But you're paying into it. That's what's so absurd.
Oh, I'm paying in tons and and But my guess is, and I would bet my house that you will get every bit.
Of Social Security that you're currently looking.
At right now.
That is such an I love here.
I mean, I love hearing your perspective on that, because I always I've been thinking for the past, you know, however many years, There's just no way I'm going to get it.
There's no way because these people suck.
They're going to screw it up, you know they and they will screw it up obviously because you're not going to get it, and you should get it. It's your daying money, your money, right right right, We would have been better off if somebody would have taken that much. We could have taken it, or we could have invested it, kind of like what Trump, I think, at the beginning of his trum memory said, let's give these babies like investment accounts and member, well the Trump baby.
And here, just to get everybody a little bit more frustrated, here's the irony. Right, Remember I said that that social Security is now a general obligation debt of the of the US government, right, which is the exact same type of debt. It's the way that we characterize government bonds. Okay, So here's the frustrating part. If everybody, if you work a full career, so you start working at age eighteen, you work to the age of sixty five.
And if they would have just taken.
Your Social Security payments and invested them in US government bonds, right, Remember it's the exact same type of debt. Okay, had we just taken that amount of money invested in the US government bonds, the return of the US government bonds.
All of us are ours.
If you worked from eighteen to sixty five, your Social Security benefit would be double what it currently was.
Oh my gosh.
So what that means is our government has been giving twice as good outcome do external debt holders as they have to their own citizens and internal debt.
I'm not shocked by that. I'm not. It's just not shocking at all. It's not.
I mean, who's shocked by them doing that when they want to give freebies to everybody, they protect illegals and criminals over us crying out.
Yeah, And meanwhile, the spending orgy on Washington d C continues. Politicians on both sides of the side of the aisles get rich, and the average person sitting at home doesn't realize that their government just gave them half the return on their investment. Then they give to external that is just investors, and it shouldn't be that way.
It's completely wrong. And people have one retirement and that's why they need to talk to you, Zach. How can people find you? Tell them all about how awesome you are because you're awesome.
Well, I can tell you how easy we are to find. So go to Bulwarkapitalmanagement dot com or Know Your riskpodcast dot com.
You can sign up there subscribe to our podcast. We do it once a day.
It's about twenty five to thirty five minutes, go over everything that matters in the world of finance or any politics related to finance or investing. And then just today did about an hour long interview with a buddy of mine that just.
Put out a book about Warren Buffett.
Put out interviews with specialists and folks in the industry about once a week, and yeah, between those you can find out everything to know about Bulwark Capital Management and hopefully you'll become a client and you know, we can all don't make a lot of money.
Together, hopefully.
Yeah, skater around the social security all that.
Well, there you go.
An take advantage is so many of these other things, right, like that in these era of governments running out of money, there's also all these wonderful investments that can protect you from it and rapping a heck of a year.
And hopefully we can tell you why.
Yes, thank you, Zach, appreciate you, Thank you.
Investment Advisory services offered through Track Financial LLOC, an SEC registered investment advisor.
The opinions expressed in this program are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. Any references to performance of security so are thought to be materially accurate, and actual performance may differ.
Investments involve risk and are not guaranteed. Past performance doesn't guarantee future results. Track twenty four to three zero eight