Speaker 1: Welcome to another edition of Checks on the Right podcast.
Speaker 1: We are here with our BFF, our financial BFF and
Speaker 1: BFF Zach from Bulwark Capital. I've been working since i
Speaker 1: was fourteen years old. Do you think I'm going to
Speaker 1: get Social Security? Because this is what irritate you.
Speaker 2: Do you think I'm gonna get?
Speaker 3: Yeah? I think if you're over fifty years old, do
Speaker 3: you have nothing to worry about?
Speaker 2: Really? And it's the people under fifty that do yeah.
Speaker 3: And here's why.
Speaker 4: So this is the cruel reality of the way we're
Speaker 4: of the world we're in. And this is one of
Speaker 4: the things that is endlessly frustrating to me. When we're
Speaker 4: talking about debt, when we're talking about deficits, when we're
Speaker 4: talking about financing healthcare of illegal immigrants, nobody ever wants
Speaker 4: to talk about fiscal constraints, right, So, now there is
Speaker 4: a constraint there if you look at Social Security, If
Speaker 4: we looked at Social Security the way that we look
Speaker 4: at a corporation, we would say.
Speaker 3: It's defunct and bankrupt right now totally.
Speaker 4: And the reason we say that is it's all blaations
Speaker 4: far exceed its ability to pay right, So it's technically
Speaker 4: in default down but when we did the lock box,
Speaker 4: when we undid the quote unquote lock box, when social
Speaker 4: Security was started, these Social Security owned the Social Security
Speaker 4: payments and that was effectively what they referred to as
Speaker 4: the lock box at that time Okay, well early sixties,
Speaker 4: when they quote unquote rated the lock box, social Security
Speaker 4: payments became a general obligation of the federal government, just
Speaker 4: like government bonds are, okay, which means that they are
Speaker 4: not They are no longer secluded to just Social Security.
Speaker 3: So in my.
Speaker 4: Mind, when people say social Security is bankrupt, they're right,
Speaker 4: but they're not in the sense that it's a Social
Speaker 4: Security is no more bankrupt than the federal government's right.
Speaker 4: And bankrupt by definition is the inability to pay your debts. Well,
Speaker 4: because all of our debts are denominated in US dollars,
Speaker 4: we are not bankrupt, okay, So meaning not paying Social
Speaker 4: Security is a political decision, not a financial at least
Speaker 4: right now in the current construct.
Speaker 3: Okay.
Speaker 4: Now, we also know that baby boomers are the largest
Speaker 4: voting block in the country. So bottom line is this,
Speaker 4: anybody that goes out, regardless of the veracity, efficacy, or
Speaker 4: whatever of their plan to save Social Security, if the
Speaker 4: saving of Social Security is a reduction or an elimination
Speaker 4: of a payment to anybody that is a baby boomer.
Speaker 4: Whoever makes that proposition will not get elected by Yeah.
Speaker 3: It is truly the third rail in American politics.
Speaker 4: Yeah, So what will happen is eventually, if everybody's like
Speaker 4: in nineteen or by twenty thirty two, they'll just print
Speaker 4: the money.
Speaker 3: Guys, it's general omination.
Speaker 4: They'll print the money. And what they will do when
Speaker 4: they finally curtail it is they will grandfather in people.
Speaker 4: Usually in the past fifty years old has been kind
Speaker 4: of the mark to make the most sense to me.
Speaker 3: And what they will say is you under the age.
Speaker 4: And it'll probably be done along the lines of political calculus,
Speaker 4: meaning where can we make that demarcation point where the
Speaker 4: people below it don't really care because it's so far away.
Speaker 4: Oh my, And that's that's probably how the decision will
Speaker 4: get made. But my whole thing is, I'm forty three.
Speaker 4: I will doubt that I.
Speaker 3: Will end up getting a single payment of Social Security.
Speaker 2: But you're paying into it. That's what's so absurd.
Speaker 4: Oh, I'm paying in tons and and But my guess is,
Speaker 4: and I would bet my house that you will get
Speaker 4: every bit.
Speaker 3: Of Social Security that you're currently looking.
Speaker 4: At right now.
Speaker 2: That is such an I love here.
Speaker 1: I mean, I love hearing your perspective on that, because
Speaker 1: I always I've been thinking for the past, you know,
Speaker 1: however many years, There's just no way I'm going to
Speaker 1: get it.
Speaker 2: There's no way because these people suck.
Speaker 1: They're going to screw it up, you know they and
Speaker 1: they will screw it up obviously because you're not going
Speaker 1: to get it, and you should get it. It's your
Speaker 1: daying money, your money, right right right, We would have
Speaker 1: been better off if somebody would have taken that much.
Speaker 1: We could have taken it, or we could have invested it,
Speaker 1: kind of like what Trump, I think, at the beginning
Speaker 1: of his trum memory said, let's give these babies like
Speaker 1: investment accounts and member, well the Trump baby.
Speaker 4: And here, just to get everybody a little bit more frustrated,
Speaker 4: here's the irony. Right, Remember I said that that social
Speaker 4: Security is now a general obligation debt of the of
Speaker 4: the US government, right, which is the exact same type
Speaker 4: of debt. It's the way that we characterize government bonds. Okay,
Speaker 4: So here's the frustrating part. If everybody, if you work
Speaker 4: a full career, so you start working at age eighteen,
Speaker 4: you work to the age of sixty five.
Speaker 3: And if they would have just taken.
Speaker 4: Your Social Security payments and invested them in US government bonds, right,
Speaker 4: Remember it's the exact same type of debt. Okay, had
Speaker 4: we just taken that amount of money invested in the
Speaker 4: US government bonds, the return of the US government bonds.
Speaker 3: All of us are ours.
Speaker 4: If you worked from eighteen to sixty five, your Social
Speaker 4: Security benefit would be double what it currently was.
Speaker 2: Oh my gosh.
Speaker 4: So what that means is our government has been giving
Speaker 4: twice as good outcome do external debt holders as they
Speaker 4: have to their own citizens and internal debt.
Speaker 2: I'm not shocked by that. I'm not. It's just not
Speaker 2: shocking at all. It's not.
Speaker 1: I mean, who's shocked by them doing that when they
Speaker 1: want to give freebies to everybody, they protect illegals and
Speaker 1: criminals over us crying out.
Speaker 4: Yeah, And meanwhile, the spending orgy on Washington d C continues.
Speaker 4: Politicians on both sides of the side of the aisles
Speaker 4: get rich, and the average person sitting at home doesn't
Speaker 4: realize that their government just gave them half the return
Speaker 4: on their investment. Then they give to external that is
Speaker 4: just investors, and it shouldn't be that way.
Speaker 1: It's completely wrong. And people have one retirement and that's
Speaker 1: why they need to talk to you, Zach. How can
Speaker 1: people find you? Tell them all about how awesome you
Speaker 1: are because you're awesome.
Speaker 4: Well, I can tell you how easy we are to find.
Speaker 4: So go to Bulwarkapitalmanagement dot com or Know Your riskpodcast
Speaker 4: dot com.
Speaker 3: You can sign up there subscribe to our podcast. We
Speaker 3: do it once a day.
Speaker 4: It's about twenty five to thirty five minutes, go over
Speaker 4: everything that matters in the world of finance or any
Speaker 4: politics related to finance or investing. And then just today
Speaker 4: did about an hour long interview with a buddy of
Speaker 4: mine that just.
Speaker 3: Put out a book about Warren Buffett.
Speaker 4: Put out interviews with specialists and folks in the industry
Speaker 4: about once a week, and yeah, between those you can
Speaker 4: find out everything to know about Bulwark Capital Management and
Speaker 4: hopefully you'll become a client and you know, we can
Speaker 4: all don't make a lot of money.
Speaker 1: Together, hopefully.
Speaker 2: Yeah, skater around the social security all that.
Speaker 3: Well, there you go.
Speaker 4: An take advantage is so many of these other things, right,
Speaker 4: like that in these era of governments running out of money,
Speaker 4: there's also all these wonderful investments that can protect you
Speaker 4: from it and rapping a heck of a year.
Speaker 3: And hopefully we can tell you why.
Speaker 2: Yes, thank you, Zach, appreciate you, Thank you.
Speaker 3: Investment Advisory services offered through Track Financial LLOC, an SEC
Speaker 3: registered investment advisor.
Speaker 4: The opinions expressed in this program are for general informational
Speaker 4: purposes only and are not intended to provide specific advice
Speaker 4: or recommendations for any individual or on any specific security.
Speaker 4: Any references to performance of security so are thought to
Speaker 4: be materially accurate, and actual performance may differ.
Speaker 3: Investments involve risk and are not guaranteed. Past performance doesn't
Speaker 3: guarantee future results. Track twenty four to three zero eight