What’s Happening in Hormuz Matters to You...Social Security Too – Top 3 Takeaways – June 10th, 2026

Takeaway #1: Rising very meaningfully

The origin of the saying a rising tide lifts all boats, like many common sayings, has often been miscredited. It wasn’t JFK who coined it, but rather a New Jersey newspaper called The Herald News, which published this in 1910 in response to a story the paper had written about a Christian group raising funds for missionary work: Some inquiries are already heard concerning work at home, if so much is to be given abroad. The reply of this in charge of the campaign is that a rising tide lifts all boats. Maybe you’ll consider that a fun fact, maybe you don’t care. Something you do care about however, is the price you pay for gas and the overall inflation rate. And the reason that quote came to mind yesterday was due to what U.S. Energy Secretary Chris Wright said that moved the needle on the price of energy significantly. In an interview with CNBC ,at the Atlantic Council Global Energy Forum, Secretary Wright said this: Oil exports through the Strait of Hormuz are rising and “will continue to rise”. On the back of that news the price of WTI crude (the stuff that you and I use) fell to around $86 per barrel – the lowest price in 53 days. So that got me to wondering...is this really true? Are oil tankers really traversing the Strait of Hormuz? And the answer is yes. For example, yesterday when I spot checked what was happening and had happened through the Strait of Hormuz, I found this... Over the prior 24 hours, ten tankers carrying 16.7% of the typical amount of freight through the Strait of Hormuz got through. This is significant, because what we’d previously seen for most of the past three and a half months since the onset of the war was no activity taking place most days, and at most one or two ships making the trip through the Strait on the best days. What Wright said was true, and the question is whether we’re finally making a breakthrough. Wright’s indication that activity will continue to pick up would seem to suggest that the answer may be yes, and what he said is consistent with President Trump’s assertion on Monday that we might have a deal in place in two or three days. Given the number of times the president has suggested that a deal with Iran is close, only for nothing new to materialize, most of us will likely only trust that’s the case when it’s in place, however we now have the lowest oil prices since the day in mid-April that it was reported that the Strait was open amid an actual increase in shipping activity through the Strait. Deal or no deal, lower oil prices, which equal lower gas prices, which equal lower inflation, equal the rising tide that lifts all boats...and hopefully gets them through the Strait of Hormuz.

Takeaway #2: Six years from today...

Six years ago, yesterday here’s what took place... Worldwide COVID-19 cases had surpassed 7 million people, George Floyd’s funeral, after an executive order by Governor DeSantis, Florida had begun to reopen from lockdowns. Maybe those events feel like a time in life that was far away from where we are today. Maybe it doesn’t seem like it’s been six years since it all took place. In any event the reason I’ve referenced where we were six years ago yesterday is as a point of reference for where we may find ourselves six years from yesterday. It’s been no secret that Social Security, as currently operated, isn’t sustainable. It’s long been reported that one day the alleged trust fund, that is anything but, would become insolvent. However, yesterday in the annual Social Security Trustees Report what we found out is that we’re now awfully close to insolvency. The report started with bad news that then became worse. Specifically, Social Security is now pacing towards insolvency in 2032 - a year earlier than projected previously. What’s more is that once insolvency is reached it’s no longer a 20% cut in Social Security benefits that would be necessary, but rather a 22% cut in benefits that could be expected without a meaningful change in the trajectory of this country economically or the program itself. The biggest catalyst shift for the accelerated timeline for the decline, is somewhat ironically President Trump’s tax cut policy, which doesn’t tax tips, but also Social Security. The loss of taxes paid on Social Security by recipients today, is projected to lead to quicker insolvency in future days. This of course is because Social Security hasn’t been operated by the federal government as a trust fund but rather as a

Takeaway #3: Ponzi-styled scheme...

that doesn’t save and invest the taxes paid into Social Security for the future benefit of the would-be recipients. The money paid in taxes today is sent out to cover those receiving Social Security today with congress having borrowed against and having spent the rest of what was supposed to be there for you. What this means is that there will soon be no more kicking of this issue to curb to address for another day – but what will likely become the biggest political issue of the day. And an issue that will need to be addressed by the next President of the United States as this is currently projected to happen on their watch. A 22% reduction in Social Security benefits would have devastating consequences for many seniors who rely on the promised proceeds to pay the bills. There are numerous options to be considered for reform in coming years – I'll be sure to cover them here – but the biggest reform of all that’s needed is an end to the Ponzi. Social Security funds shouldn’t be part of the government’s general fund. It should be an actual trust fund with the money in an account with your name on it.

The Brian Mudd Show