Elon Musk, the world’s richest man, is doing great work to shake Washington’s political facilities. He recently visited Joe Rogan Podcast and said he said. “Social security is the largest ponji system in history.”
This small amount of reality was enough to cause excitement from large government statisticalists. Rex huppke, with opinion US todayWe provided the opposite point.
“Social security is one of the most popular and successful federal programs in the United States, and the contract you pay is not just a fraud. It is a way of building the system.”
No doubt, social security is a popular program. Do you not like the prospect of not getting anything? But this does not mean that it is not a ponzine system.
Charles Ponzi gained a reputation for providing seductive investments in 1920 unknown. He promised 50 % of investment in 45 days and 100 % in 90 days. Trusted investors, dizziness with easy wealth, have since discovered that they were paid profits from investors’ money.
The show is over when the incoming money cannot be caught by the promised return. But Ponzi’s sucker reached about $ 20 million.
Musk’s point of social security is that when the system is first released, the demographic ratio with Americans, who lives longer, is popular in the wrong direction. The percentage of the US’s death no longer prefers young and growing population.
About 17 million baby boomers will retire by 2030. The “Pay-AS-You-Go” system will not be able to cover all promises. So, like all Ponzi systems, social security is destined to fail.
Stimulus
Naturally, this is very angry with those who have paid for their work life and believe in it to end their retirement.
The center of social security promises is the central government and the central planning authorities. They promise comfort and comfort. In return, you will depend. They promise safe retirement and free drugs by operating a plan that goes beyond the rough dream of Charles Ponzi.
No doubt, social security is an attractive idea. The government seizes part of the salary every two weeks. Then, after retiring in 45 years in return, we pay subsidies. You can enjoy your golden days comfortably.
According to Rachel GreSellResearcher at Heritage Foundation:
“[Social Security is] This is because the US’s favorite qualification program and some of the popular reasons are not Solvent. ”
In fact, the most popular program is a program that people promise to go out more than they wear. The promise is to be tempted to allow people to allow people to deliver something that is mathematically impossible. Unfortunately, many people who rely on social security will be seriously disappointed.
At the time of the establishment of social security, it was not really abstract to recognize that the program would eventually be bankrupt. Honest assessments can identify ruin to fail. All Ponzi systems are as follows:
In 1939, before the first check was paid, John T. Flynn predicted that social security will be in the water by 1970 and will go bankrupt in 1980. He was called crank by today’s political elites. But Flynn was right.
Other growth curves
Without the Greenspan Commission and the 1983 Social Security Reform Act, Flynn’s prediction would have been just three years. More importantly, Greenspan did not solve social security problems.
By changing the terms and conditions, he expanded to the future. In doing so, he tried to rely on several generations of workers. And once again, the social security posts are destined to fail.
Now, we are in the process of conflict with disasters. For example, take government debt. Real Gross GDP, which ends in the fourth quarter of 2024 in the last 10 years, increase About $ 18.5 trillion to about $ 23.5 trillion. During the same period, there is a national debt increase $ 18.2 trillion to $ 36.2 trillion.
There is a fundamental difference between economic growth and government debt growth. In the last decade, Real GDP has increased $ 5 trillion or 27 %. But national debt increased by $ 18 trillion or 99 %.
For a long time, this divergence causes two dramatically different growth curves. Government debt now reaches $ 12.7 trillion in real GDP. Do you think the United States can get out of this?
The first people of the Ponzi plan always make it like a thief. IDA May Fuller cashed the first social security check, check number 00-000-001 of $ 22.54 on January 31, 1940. In only one check, she almost recovered the total value of $ 24.75 he paid.
But Fuller continued to cash in cash until he died on January 27, 1975. A total of $ 24.75 paid $ 22,88.92. This is in accordance with the rate of return of 92,380 %.
Fate of social anxiety and all Ponzi plans
One generation always cultures the bacteria of the disease that dominates the following: Yesterday’s actions have nurtured things that control the present. So today’s actions give birth to things to control tomorrow.
At this moment, we live with some disadvantageous gifts from our original gifts. One of them is that the social safety net built decades ago is torn in the exact moments of tens of millions of baby boomers.
According to Official estimation In the Social Security Administration, only 79 %of the promised benefits will be paid in 2033 due to the depletion of the trust fund. But everyone knows that social security will soon lack, but many people have not prepared for them. Instead, they buried their heads in the sand like a meaningless ostrich.
If you can trust Almost half There is no retirement savings of US families. The promise of social security misunderstood them in an irreversible and irreversible way.
Perhaps MUSK, like the previous GREENSPAN, will provide acceptable plans to change social security conditions. In essence, this is a combination that raises the qualified age requirements and lowers the payment.
Again, this will not solve the ponzine system. It will just make the day of calculation further to the future. Meanwhile, MUSK’s initial reform efforts firing It has brought serious warnings among 7,000 social security staff.
Martin O’malley, a former social guarantee commissioner and former Governor of Maryland, predicts an imminent fate. Last weekend he warned CNBC That:
“We will ultimately see the system collapses and the benefits are stopped. I believe you will see it within the next 30 to 90 days. ”
Is O’malley just inflammation?
no way. His timing may be turned off. We will see it soon. But the ultimate collapse is given.
The same is true of the fate of all the ponji plans.
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thank you,
Mn Gordon
For economic prism
It returns to economic prisms in social anxiety and the fate of all Ponzi plans.
