 Here's social security. I'm laughing, but social security is a disaster like really it's a disaster, right? Here's social security Here's a whole bunch of people Working class they don't have mad-offs Not that you want mad-offs, right? Here's a whole bunch of people Here's a government Told those people that they have to give a certain amount of money in taxes burned by Bernie They have to give certain amount of taxes into social security, right? And the government says you work for 20 years 30 years 40 years let's say 30 years When you get old When you get old there's gonna be a bunch of these people certain percent is it ain't gonna be around no more, right? They're done. So let's take five people and make you know, let's say four of them survive To the ripe old age of 65, right? So let's say They're working from the time they're 25 right Years old 30 years or 55 years old years old now these guys are Putting money into social security, right? And the government runs their numbers and says social security is going to be returning I don't know what it is three percent per year four percent per year five percent per year So whatever money that these people have put in Right over the years and it's not in one lump sum, right as you work You put money into social security into retirement or whatever it is in my part of the world You work until you are 62 and then you get you get your pension Okay, and the kicker is How much is that pension really going to buy right because they have an account for inflation, right? So show social security pension your retirement plan assumes that there's two percent inflation per year right two percent inflation In my part of the world anyway, right? So when these guys give money to the government the government promises them a certain return When they reach 55 or 62 because I think 55 is the earliest that you can start collecting social security I believe so anyway, right? So 30 to 40 years to 40 years, right? So it could be 65 Years or 62 a success, right? The government says hey, we're going to give you a certain amount of money per year or per month Okay, and the government The numbers what they've done they've counted on more people joining the workforce Throughout this 30 years right And contributing to this fund right So they're expecting money to be coming in They're expecting money to cut to be coming in they're expecting two percent inflation Okay, that means they need to be paying out on the social security When they because when they get the money, they're not just sitting on the money. They're making the money work So they're expecting interest rates to be More than two percent, right? They're expecting for there to be interest. So the fund that they have Actually grows so there's two Grow growth factors in there JJT, how are you doing welcome to a live stream? So there's two growth factors there There's growth from interest and there's the growth from people putting money into the funds, right? So what's the problem In the western world for the last 10 plus years Okay, two problems The workforce Has gone down So there isn't as much money going into this social security fund The other thing is Right now interest rates are sitting in negative Zero or negative. So for the last 10 years, right? You're sitting at zero percent. So this fund hasn't been growing right Meanwhile, they're been paying people off because if you think about it, this isn't one group Every year there's more people retiring retiring retiring retiring So the government social security is dependent on growth They need growth in interest and they or they need interest rate to be at a certain level And they need the workforce to be constantly pumping money into this thing the workforce is not constantly pumping money here because A lot of people young people are out of work. The job market is not there, right? automation kicking in The economy is not as healthy as you assume it is right or they tell you it is And interest rates have been sitting at 10 percent There goes their mathematics their functions Are gone their assumptions are done for right so they're running out of money to pay people out right And growth from new people come to your country and growth from yeah sticks and growth from new people coming in their country But the new people come in your country. They're a higher Higher the lower wage. So again, it's less funds going in right So no matter how you look at it. There's desperation in governments right now trying to increase the money here Because they know people need to be paid out right What's been happening governments have been running out of money So they're telling people okay, you can't retire 55. You can't retire 65 Like Greece is one example Now retirement they're kicking it down the road and saying okay 68 years old When you're 68 you can get your money back Right, or you can start applying for social security Right and get money. Here's another way they've been doing it Let's say they promise these people a thousand dollars a month right They don't have a thousand dollars a month to pay people When these guys retire When they're retiring they're expecting a thousand dollars a month all of a sudden the government the company The county whoever's been managing their money Turns to them and says look, we can't give you a thousand. We're going to give you 500 Now These people who are retiring who are expecting to get a thousand to be able to live to be able to pay rent to be able to pay their taxes by food Right all of a sudden their incomes cut in half Now this isn't hearsay. This isn't what could happen. This is exactly what has been happening in certain parts of the world In the united states. This is exactly what has been happening Okay, this increase in retirement age is exactly what has what's been happening, right? So I tell people younger than 65 55 or whatever it is, right if you expect Social security Money to come to you to be worth anything for you to buy anything You're out of your mind. You got to worry. You got to think about your own retirement Right, you got to think about your own finances. You better learn your mathematics Because if you think A centralized institution is here to take care of you and they've done their math the right way All their assumptions and play you're out of your mind right Now you have to work until you're 70 and longer $500 today. Don't even pay the rent. No Don't even pay. They don't even pay nothing like really it doesn't pay anything $500 $500 a month What does that do? Well, that's Like that that that's a phenomenal income for a high-level youtube person That has over a thousand subscribers right Crazy like we don't I don't not not even this right I can't wait to learn how to do decentralized math sounds messy. No, it's not decentralized math is It's pretty easy. It's pretty easy. Don't believe what centralized institutions tell you. That's the first thing about decentralized math But making people work until 68 years old makes it harder for younger people to get the job It's a cycle. It's a perpetual. It's a feedback loop JJ it literally is a feedback loop. That's what we're seeing right now