If you were born in 1968 you turn 64 in 2032. You’ve paid into Social Security every single paycheck for over 40 years. You were promised it would be there. Social Security is projected to be insolvent by 2033. That’s not a maybe. That’s the government’s own estimate. Congress borrowed from the fund for decades. Never paid it back. Now the people who spent it are debating how to tell the people who earned it that it’s gone. Meanwhile we just approved another $800,000,000,000 defense budget. Found that money immediately. No debate. No delay. But your retirement check that you paid for your entire working life? That’s a budget problem. The government didn’t run out of money. They ran out of interest in protecting yours.

$AKAM is down almost 4% AH after they announced a $2.6B convertible notes offering split evenly between 2030 and 2032 maturities, with proceeds aimed toward expanding its Cloud Infrastructure Services business, share repurchases, and hedge transactions. The company also authorized roughly $350M in buybacks tied to the offering, signaling continued focus on capital returns while funding long-term AI and cloud infrastructure growth.

YieldMax just announced distributions for some of their ETFs $CHPY – $0.6629 $FEAT – $0.2643 $FIVY – $0.2032 $GPTY – $0.3555 $LFGY – $0.2635 $MINY – $0.2729 $QDTY – $0.2256 $RDTY – $0.2449 $SDTY – $0.2105 $SLTY – $0.2961 $ULTY – $0.2729 $YMAG – $0.4046 $YMAX – $0.1497 Disclosure YieldMax is a WOLF Financial partner. For informational purposes only, not investment advice.

FITCH SAYS ON THE UNITED STATES THAT FISCAL PRESSURES WILL INCREASE AS MEDICARE AND SOCIAL SECURITY EXPENDITURES EXPAND BY NEARLY 1 PERCENTAGE POINT OF GDP BY 2032, ADDING THAT GRIDLOCK AND GOVERNMENT SHUTDOWNS MAY BECOME MORE LIKELY AND POSSIBLY MORE PROTRACTED AS WELL

From @TheAthleticFC: Real Madrid have confirmed that Vinicius Junior has signed a new long-term contract with the club, which runs until 2032. Arsenal were ready to launch a move for the Brazil international if he didn't choose to stay in Madrid.

$CRWV The $META fears are overblown. I'll be adding aggressively (via options) to CoreWeave. Here's why: 1⃣ CoreWeave's $35b contracts with Meta are through Dec 2032. These are explicitly take-or-pay. This is guaranteed revenue. 2⃣ These are just rumors of selling "excess" capacity. Per Zuck in May, companies were "asking if we have compute that they could buy from us at some premium to what we've bought it at." IE, this is them selling capacity they bought from NBIS and CRWV at a premium, if they have extra. 3⃣ META is constrained already. Google limited Meta's usage of Gemini back in March, which likely led to the two contracts with Nebius and CoreWeave over the following 45 days. 4⃣ Even IF Meta does a pivot and begins a data center play, their model (per the rumors) appears to be AWS-like. Per the Bloomberg report, "Meta would run the data centers and chips that power the models, including its own Muse Spark models, and charge developers to access them." If this goes wildly successful for Meta, you know what they'll need beyond 2032? Compute. Lots of it. Likely more than they are able, willing, or wanting to build out. What kind of compute will you want in that scenario? Bare metal compute. IE, CoreWeave.

We don’t agree on much, but @SenWarren and I agree on this: Social Security is a promise that must be fulfilled. By 2032, benefits could be cut by more than 20% if we do nothing. We have a bipartisan plan to save it: end the payroll tax cap so everyone pays the same. No benefit cuts. No raising the retirement age.

Today in Tampa, I outlined the Save Our Homes from Excessive Property Taxes plan that will eliminate taxes on homesteads.  Property tax revenue collected by local governments has nearly doubled in the past seven years (from $32 billion to $60 billion) and is expected to reach an astounding $83 billion by 2032. Florida homeowners need relief. Now is the time to stand up for taxpayers, enact a historic reform, and save the home of every Floridian.