No Free Lunches - Seniors Benefit at the Expense of Our Kids: Stan Druckenmiller at TEDxWallStreet

See more at: tedxwallstreet.com/
Stanley F. Druckenmiller, Chairman, Founder, President and CEO at Duquesne Capital Management, founded the firm in 1981. He was a Managing Director at Soros Fund Management from 1988 to 2000, was employed at The Dreyfus Corporation, where Mr. Druckenmiller developed and ran the best performing mutual fund in the industry from its date of inception to his departure from Dreyfus in 2010. He is the Chairman of The Harlem Children's Zone, is a Trustee of Environmental Defense Fund, is a Director of The Children's Scholarship Fund, serves on the Board of Overseers of Memorial Sloan Kettering, and is a Member of the Investment Committee of Bowdoin College. He is a magna cum laude graduate of Bowdoin College in Maine with degrees in Economics and English and has graduate degree credits in Economics from the University of Michigan.
In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

[@LiveWell6]

Stan Druckenmiller is one of the smartest people on the planet. We should listen to him.

[@mgorbaty]

LiveWell6 He is the brightest mind to ever come into economics and finance. This video should have 100 million views.

[@schrodingerbracat2927]

Nooooooo. No. No. No. No. We should just print and print more money (or just press a few buttons on a computer) and kick the can further down the road. No problem.

[@davidcardenas6134]

A truly exceptional mind

[@MartinSage]

I LOVE Stan Drunkenmiller and support him. He doesn’t need to do this! He wants to help young adults. Bless Him. I lived in Communist Vietnam for 7yrs. There were a lot of bad things but medical care was not one of them. I stayed in the Saigon Hospital 2days. My bill was under $100. I am shocked how greedy our Govt +Insurance companies have allowed our doctors and hospitals to be. Canada, Europe don’t have this problem….only the USA

[@kathyjones274]

Because it suits him to do it. Believe he wouldn't bother if he was not going to benefit in some way. This is a crock. They want to privatize your social security, vet benefits like wall street. They cannot get away with this. I don't want my social security to go up and down with wall street. I paid for it, it's a shame how many people buy into this crock. Research it.

[@frankozz8699]

its 2020, weve had a pandemic, record unemployment, executive branch cutting ssi tax to zero, over 4,000,000,000,000 in spending in 1 year, record offshoring, and debasement of the currency. Today Stanley holds a metric fuk ton of gold.

[@skobie7]

Thanks for trying Stan.

[@fengqin821021]

Someone said if you can't explain things simply, means you don't understand the situation. Stanley is the one who can explain complicated situation to 101 data analysis. Looking at most of the developed countries, they all have this kind of problem. I think the system itself would have a crash, before politician face the reality.

[@skobie7]

Vampire lore originated with Irish freeloaders. History will have to create an even more nefarious monster.

[@Nick-yn2uz]

7:00 “In 2030 the average age of a U.S. citizen will be more than the average age of a Floridian today”

[@superwealthy4653]

Where is other languages subtitle? Like Vietnamese.

[@lilybaker732]

Great analysis. There’s an impending crisis as SS and Medicare liabilities explode but we lack the funding for it. In addition, increasing healthcare costs will likely drive up Medicare costs per capita at a higher rate than general inflation. And the 12% to 16% jump sounds small but is quite significant - the burden (as a % of income) of payroll tax falls primarily on the poor and middle class - i.e. those who need the money most.

[@kathyjones274]

Greed simply Greed. I won't sit and let this guy try to Buffalo people. I won't say it is OK for our social security to go up and down with wall street. Research Katie porter California she will explain

[@mikestarks8464]

i am 58, if i could pick an older brother to mentor me I would choose SD.

[@dachanist]

Its because children don't vote. Tax the clearinghouses on the notional value of all positions straight out of the accounts of the investors. 1% equity pro rata per year. It'll be 700B a year. We don't need more poor elderly. We need to tax the buy side the same way you'd tax a reit.

[@redcae1911]

Social security tax is the worst tax out there And also unfair

[@jennifergonzalez6431]

So cute

[@knpstrr]

Interestingly on his bar graph "sharing the pie" in 1960 elderly received 8.7x more benefit while in 2011 elderly received 6.5x more benefit so a relatively the children are catching up, despite increased nominal values.

[@bonn94]

In 1960 there were lesser elderly and more children in terms of the split between the two.... So money spent per elderly person turns out to be more.

[@knpstrr]

@@bonn94 it's per capita

[@kalaupun]

not to mention, benefits to parents go to children too! he is twisting data for his neoliberal agenda

[@alancalvo2355]

How much do you think is going to the military industrial complex? Let’s keep making them rich though! That’s a good plan!

[@jameslivermore4481]

Great argument to move your business and divest your assets out of America.

[@kailiang4160]

I’m a billionaire money man too, I can always unscientifically feel the talents in a money man when I c one, unfortunately many of them r weird ppl like drunkmiller, especially the traders ,but they r often strangely right and have very unpopular opinions , because they admit what they don’t know ,true to themselves and don’t care about what the others think

[@tsuba14]

demographic bomb just like in Japan and elsewhere... boom

[@mynameisnotimportant2854]

Social Security and Medicare are NOT entitlements. We as a nation have an ethical and moral obligation to protect out most neediest population: indigent, elderly, children and disabled. Instead of looking of ways to cut social security and Medicare, the U.S should look at ways on how to save money and provide by for our indigent. This includes costly wars, and a greedy legislative branch who frequently get into bed with corporate lobbyist. He would feel otherwise if he was poor and disabled.

[@requiemforamerica8432]

Social security is nothing but a ponzi scheme. If a private company was running a business with the exact same model, they would go to jail. Also if you think that just cutting costs from wars and corporate welfare would be enough to pay for social security and medicare/medicaid PLEASE STUDY THESE PAGES VERY CAREFULLY all americans OWE IT TO THEMSELVES AND THEIR CHILDREN to know EXACTLY how much $$ is going where www.usdebtclock.org LOOK AT THE LARGEST BUDGET ITEMS as well as UNFUNDED LIABILITIES.

[@requiemforamerica8432]

(contd) Anything that requires stealing from one group to give to another IS an entitlement. And using government violence to pay for ANYTHING is the MOST EXPENSIVE way to get anything done. Would you give your checkbook to the Congress and allow them to go grocery shopping for you all your life? No? I REST MY CASE. ALL government programs are filled with inanities, waste, corruption on both ends and every step of the way (people take more than they need if it's "free")

[@mynameisnotimportant2854]

NoName NoFame and what makes you think that a private organization wouldn't steal social security monies if managed? Look at what happened with Enron? All those employees lost their lifetime savings because their retirement money was being managed by a private company. Your argument is a fail.

[@drakefire1800]

ChocolateBunny Dba UrbanEssence The usa has enforced stability in a lot of the third world. If we withdrawal from the world now, it will turn into chaos. And I think we need less boomers collecting ss, pensions and working full time when they don't need the money.

[@RedondoBeach2]

Every working age American and the elderly should face heavy taxes to make Social Security whole again for future generations while simultaneously paying down the national deficit. Crying that you were promised a social security check isn't a valid argument... never was. As American's we're long overdue for tightening our belts, and not only paying down national debt but personal debt as well. Spending responsibly. We need to learn the hard way what it means to be fiscally responsible. Unfortunately this means every American alive today, and many yet to be born, would have to pay heavier taxes for the rest of our lives. A small price to pay to strengthen the United States and future generations. However, this is only one part of the solution. Another part is enforcement of balanced budget spending, tax reform that promotes business growth, regulatory reform that promotes responsible business growth, and smaller government, to name a few. Additionally, stiff and enforced penalties (long prison sentence) for people in government and lobbyists that use their position to personally profit from tax payers or by taking inappropriate actions considered fraud, waste or abuse. Think of it another way; what real sacrifices have you and I made for our country. Maybe you served in the armed forces, or as a policeman or a handful of other honorable professions that sacrifice for the greater good of our nation. If so, great. I salute you. However, the vast majority have only benefited from those who made these sacrifices. We benefit every day in ways that we take for granted. The peace of mind knowing that we're reasonably safe on U.S. soil compared to other nations, that our food and water supplies are protected, etc. Others around the world would kill for this alone. In fact, many Americans fought and died for our way of life. We take it for granted on most days. As a nation, we're all overdue for making financial sacrifices that ensure the longterm solvency of the United States and for making our nation a better place for future generations. Time to stop spending on credit. Time to legitimately balance federal and state budgets. Time to stop squandering funds on irresponsible programs like High Speed Rail in California or Planned Parenthood, and yes, even cutting back Social Security until eventually, one day, debt is paid down enough that each generation is paying money into Social Security that they can reasonably expect to be able to withdraw when they come of age, not on the backs of a previous generation or those who have yet to be born!

[@kalaupun]

Truly vile misinformation. Comparing numbers of spending on children vs seniors, selectively not counting any benefits that go to children's parents.