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"We have 5 years until Social Security is bankrupt." David david friedberg on why Brad Gerstner's (Brad Gerstner) Trump Accounts for children are great for America: "The idea is right. It's a 401(k) for everyone." "Social Security needs to flip into being a 401(k) for everyone, tomorrow." "When you...

48,378 görüntüleme • 2 ay önce •via X (Twitter)

16 Yorum

Molly O’Shea profil fotoğrafı
Molly O’Shea2 ay önce

"If the federal government is now going to go and set up a private equity account, a sovereign wealth account to buy assets in private companies, I personally don't love that." "I don't love that America is suddenly going to become public-private. That's not my free market belief." "But if they do that, then all of those shares can get distributed to those accounts, and we could flip Social Security tomorrow into that system and expand it in that way."

kaveh moini profil fotoğrafı
kaveh moini2 ay önce

@friedberg @altcap one of the solution they offer is capital gains tax ( which everyone freaked out about ) maybe David should be talking less and reading / listening more about policies they put forward

Steve Pair profil fotoğrafı
Steve Pair2 ay önce

@friedberg @altcap I’ve been hearing this for 20 years.

Al Goldstein profil fotoğrafı
Al Goldstein2 ay önce

We got into the Trump Accounts angle on this same idea on our podcast this week ($50K at 18, growing to $1M by 55 if left invested). Pete Kadens' pitch was builders over bureaucrats, an ownership society where people are incentivized to see businesses succeed, not just collect a check. Full clip:

Aaron von Linder, MS.c. profil fotoğrafı
Aaron von Linder, MS.c.2 ay önce

I think that right now I support privatization of social security because without foreign sovereign wealth funds the US would go into austerity from government spending. Even if it's the bond market they need to structure the social security where it's bailed out from the printer.

Icy Dicy profil fotoğrafı
Icy Dicy2 ay önce

@friedberg @altcap Soc Sec bankruptcy imminent.... they been spewing this nonsense for 30 years. Govt will just brrrrr print like they always do.

CyberJC profil fotoğrafı
CyberJC2 ay önce

@friedberg @altcap i've been supplementing my elderly parents income with income producing options (covered calls and sell puts) which pays out way way more than social security. only issue is the high taxes they have to pay as they live in California.

Lennon Madureira 🇧🇷 profil fotoğrafı
Lennon Madureira 🇧🇷1 ay önce

@friedberg @altcap Why not make factories, that make essential products for people survive and develop? Instead of making money to give to people... Is this just to mantain the market model? Is this worthy?

DO profil fotoğrafı
DO2 ay önce

@friedberg @altcap Pretends to be freedom guy, but always comes back to how government should being doing more. Confuses the problem with the solution. Hopeless.

Michael Brandon Guercio profil fotoğrafı
Michael Brandon Guercio1 ay önce

@friedberg @altcap Hey David, pension plans aren’t going anywhere. But I do agree with you on social security.

Davey_CoolCat profil fotoğrafı
Davey_CoolCat1 ay önce

@friedberg @altcap Raise the cap on social security and it’ll be just fine.

Daniel Lewis profil fotoğrafı
Daniel Lewis2 ay önce

@friedberg @altcap YES!!!

MaIIy 0’Shae profil fotoğrafı
MaIIy 0’Shae2 ay önce

@friedberg @altcap

Chuck profil fotoğrafı
Chuck2 ay önce

@friedberg @altcap Social Security has had 5 years for the last 20.

Daniele Sgarbini profil fotoğrafı
Daniele Sgarbini2 ay önce

@friedberg @altcap feel like with time our pension funds should be fine due to ai bringing in insane gdp we could have pension funds for 3-4 agents per person. thoughts on this molly?

Furnuwees profil fotoğrafı
Furnuwees2 ay önce

Friedberg and folks like him is the reason we have CA in the state it is today. They turned a blind eye to all the crazy socialist policies for many many years. Now that CA is coming after their wealth they have started whining. He is not wrong now be was wrong in the past. Time to come clean... And vote your feet. Socialists dont care about builders.

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David Friedberg on the Nonprofit Scam: 90% Are Bullsh*t “ The definition of exempt activities is charitable, religious, educational, scientific, literacy, public safety, or fostering amateur sports competition, or preventing cruelty to children or animals. You tell me how the f**k 90% of what we call nonprofits today fall under that definition. We have completely f**king closed our eyes to the fact that organizations, regardless of political affiliation or social interest, have fundamental commercial and probably not aligned interests with the definition of a 501(c)(3), and we've allowed them all to get away with it for far too long. I don't think that this is a blue or red thing. I think that this is a thing where we let these organizations make it easy to get money, to hide the money, and to do whatever the hell they want with the money, and we need to stop it. And I think that it's an amazing opportunity right now for everyone to kind of reset the decks by cleaning all the sh*t up, and getting all of these organizations flushed, and make sure that any organization that wants to do whatever bullsh*t, nefarious things they want to do, by all means do it. But it's not a nonprofit and you shouldn't get a charitable donation deduction, and the government should not be putting money into these sorts of things. This is an entirely different sort of activity in the social order. And as a libertarian, I'm all for it, but I don't think that they should be tax exempt, and I don't think they should be getting government money, and I don't think that individuals should be benefiting from giving them money. And if we could fix all that shit up, I think a lot of these problems are going to go away.”

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🚨Should the US create a Sovereign Wealth Fund? Chamath and Friedberg discuss Chamath: “I think that we should start a sovereign wealth fund right now.” “The great news is that these Trump tariff deals come with huge amounts of capital that these other countries have committed to spending inside the United States.” “We've exceeded $1T of inbound capital on the investment side. We get 90% of the upside.” “A lot of that capital should be the seed capital for a sovereign wealth fund.” Friedberg: “The concern I have is anytime we create a new income stream at the federal government, or we have some sort of growing asset that you mark up on the book, someone tends to invest ahead of the curve on that.” “Meaning someone takes that and they're like, ‘Oh, great, I can spend more now.’ I mean, we even saw this in California (with) Gavin Newsom and the budget skyrocketed as the income went up.” “Rather than take the surplus and book it for a rainy day, they went and spent ahead of it, and then all of a sudden they had a huge deficit.” “Which is what happened with Social Security is, it's like, okay, all these people are providing this income every year to the federal government, which they're supposed to be paying into their Social Security Trust Fund, which is gonna go bankrupt sometime between 2030 and 2033.” “But then what happened is we raided the coffers, we took all that money, and we started spending it on random new programs.” “And the problem is, by giving the government more assets, by giving the government more income, we set ourselves up for a circumstance where the federal government, the Congress says, ‘Great, we got more money to spend. Let's do X, Y, and Z program and let's do this. Let's build a high speed train. Let's do this. These are all good for American people.’” “And all of a sudden, you don't actually solve any real problems. And this is why my argument is that we should use it to fill the hole that we have, for example, in Social Security.” “And that needs to become an asset that's strictly used as an offset on Social Security, because if you don't put it in that box, it just becomes another spending mechanism.”

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Woman who grew up in Southern California says she saw first hand out illegals qualify for Section 8 and all our benefits “I saw exactly how they did it and what they did and how they were able to get away with it for so long. So how they would do it is when you fill out these applications, there is a box that asks you, now they'll initially ask you for your social security number and date of birth, whatever. But there's a box that said check here if you do not have a social security number. Once you check that box, baby, you're a celebrity after that. — The border is right there. So the women and children would come over. And they'll apply to all this aid. They'll check that box. Do not have a Social Security number. And then they will get immediate assistance. - They'll get the Section 8 - They'll get cash assistance - They'll get EBT - They'll get free lunch for the kids - They'll get ESL (English second language) - hey'll get free tutoring they'll get everything they need, right? Because they're not a citizen, so they need the emergency help but here's what they would do. The men would be there too. They just wouldn't include them on any paperwork. The men would be in the home, but the men would go to work. All while they woman and children are getting all this free everything, they would go to work. They would do construction, get paid under the table, odd jobs, handyman work, paid under the table, fixed cars, paid under the table, have a food stand or food truck, cash only, okay? Selling whatever they can sell, reselling, doing whatever they can, all under the table. And the women would do it, too. So they getting all this money, cash only, tax free, no proof of anything, and living high off the hog off of our money that we're actually paying off the government, off the handouts. That they say we take. That's how they were doing it.“ “That's how they've been. Getting away with it. The men, they be out there making money and even the women, they be out there making money, cash only, tax free with the handouts of the government.” She then explains what illegal businesses they run in California and how they avoid taxable income and reporting

Wall Street Apes

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David Friedberg: How to Save Social Security Using Compound Interest david friedberg with an incredible breakdown on E219: "The US Social Security Program is meant to be kind of the retirement program for folks that don't have access to private retirement accounts." "This program was set up in the 1930s after the Great Depression. There's a trust fund, the OASDI, which is the fund that they invest the capital (from)." "So every year we all put money in with our social security taxes out of our paychecks, (which) goes in there." "It gets invested in one thing: US Treasuries." "Which have averaged about 4.8% return per year since the beginning of the program." "Meanwhile, the S&P 500 has been averaging 11%." "So here's the math: if in 1971, which was the year that we went off the gold standard in the US, if we invested the Social Security Trust Fund in the S&P, the balance of the social security trust fund today would be $15T." "That would be roughly one-third of the value of the total S&P 500, which would be jointly owned by all Americans." "Now here's what's f*cked up: the middle class people who had access to private retirement accounts benefited by buying the S&P 500 and the wealthy were able to access it." "So all of the equity value that accrued from American enterprise and the prosperity of the American system accrued to the people that had access to the private accounts." "Meanwhile, the people that only had access to the public accounts got stuck owning treasuries." "Today, the Social Security Trust Fund has a $2.7T balance, and based on the outflows and inflows, it's going to go bankrupt in 2032." "So I did the math: If you assume that the S&P 500 continues to grow at 10.5% per year on average, we could put about $500B in the trust fund today, and it will not go bankrupt again." "And it will continue to grow every year. And then all Americans have participation in American enterprise." "And importantly, this becomes the world's largest sovereign wealth fund ever. You don't need a separate sovereign wealth fund. We already have one." "We've totally mismanaged it. And I went back to try and understand why this is the case. Why have we only ever bought treasuries? " "Early on, the US needed someone to loan money. So they basically forced the citizens to loan the government money in the form of treasuries." "But today, the social security trust fund owns less than 10%, about 8% of the total treasury bonds outstanding." "So why are we forcing all the American citizens to participate?" "Through the social security system, we've created the deep inequity we see in this country." "If instead we had allowed the social security system to invest in the S&P 500 to buy American enterprises to fund American businesses, then every American would be wealthy and that middle class that uniquely participated by basically arbitraging the market where they forced the treasury bond yields on the poor and they got to take access to the equity yields would have not happened."

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And here it is: One of the most shocking whistleblowers in the history of whistleblowing. “I Couldn’t Believe That We Were Giving These People Social Security Cards And U.S Passports, Free Medical, Free Housing, Free Food, Free Everything.” WHISTLEBLOWER: They were incentivized to qualify illegals for LONG TERM DISABILITY to qualify illegals for Social Security FOR LIFE, “So they were set for life” “They wanted us to try to identify them in such a way that they would qualify for long-term social security disability. Now long-term social security disability is for life. So if they get identified and qualify for long-term social security disability, they are as good as set up for life” “That doesn't sound like a refugee to me. Just being honest, that sounds like someone who's planning on staying here.” “So they instructed us to try to identify, to try to get the client, because once they arrive here, they're now called clients. —So they told us that we needed to talk to the client and ask them if they had any headaches, recurring headaches, or any lower back problems, anything that would qualify them for Social Security Long Term Disability” “Yes, it is insanity. But in order to get Social Security disability benefits, don't you need a Social Security number? Well, we were instructed in the meeting that one of the first things we were supposed to do was sign them up for Social Security.” “This is unbelievable. So they come over here and they get a Social Security number. Right. They become legal. Correct.” A deliberate strategy by Democrats to use government handouts as bribes to encourage an invasion:

🇺🇸RealRobert🇺🇸

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Wall Street Apes

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“ One of the greatest philanthropic gifts in the history of humanity”: $6.25B to fund investment accounts for 25M American kids 🇺🇸 @jason: “ This is one of the greatest philanthropic gifts in the history of humanity.” “People have just kind of glossed over it because there's a lot of big numbers in the world, but we're talking about you and Susan sat down and said, ‘We're gonna give a number.’ And that number was $5, $6, $7 billion.” Michael Dell 🇺🇸: “It's $250 to 25 million children, ages 2-10, in zip codes where the median income is $150,000 or less. It’s $6.25 billion.” Brad Gerstner (Brad Gerstner): “This is Social Security 2.0. This is the biggest change to the social contract in America in 50 years.” “3.7 million kids a year will get an account that can compound. It's a 401k from birth.” “And yes, we're going to have a lot of announcements, but it's not just billionaires.” “It's going to be companies that are donating stock on their IPOs into these accounts, it's going to be wealthy people, it's going to be states, it's going to be moms and dads, it's going to be corporations.” “And the estimate is over 15 years, we can move $5 trillion into the pockets of families that would've otherwise had zero.” david friedberg: “If this $5 trillion moved through government programs, it would get incinerated.” “That's what we see happen. There's just a million crony structures that take it away and destroy it.” Brad: “And it unlocks the human potential. It's not just the money. ‘It's that ‘I'm in the game. I have a shot.’” Michael Dell: “Invest America, it’s not a red idea or a blue idea. It's a red, white, and blue idea.”

The All-In Podcast

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David Friedberg explains that owning a home is worse than investing in stocks Calls it the "Great lie" FRIEDBERG: "This is one of the great lies. Convincing everyone that the great American dream is to own a house. When owning a house for a lot of Americans ends up putting all your capital in one asset, and you've got to basically get the price of housing to go up every year to keep everyone moving up the ladder." "So now, fast forward 30, 40, 50 years, young people can't afford to buy a house anymore because we've pushed the asset value up so much to try and make sure that everyone's got good household wealth." BARTLETT: "We are told. I mean, that's the sort of central idea once you leave university—is to figure out how quickly you can get a mortgage or buy a house." FRIEDBERG: "Great lie. It's one of the great lies. And there's a lot of countries where people have been able to accumulate capital and jump that ravine from labor to capital much more quickly when they don't buy a house because they can invest in stuff. They can buy, you know, the S&P 500, which you can just buy on an E-Trade or Robinhood account, and you can just own it; on average, it will make you 10-11% a year. You just put your money in that, you're making 10-11% a year, and it can go up every year, and you don't have to pay taxes. You don't have to pay property tax. You don't have to pay insurance. You don't have to deal with repairs and maintenance. All that sort of stuff. So, a lot of people would have been better off, depending on the markets that they're in. There's some markets that ballooned, but a lot of people would have been better off over the last 30 years actually owning the S&P 500 than owning their home and paying for the rent on a home."

Tony Jacob | FindaClip.com

450,379 görüntüleme • 20 gün önce